COMMENTARY
      It's too soon to fret about third-quarter earnings, so the jittery market 
      focused on the widening trade deficit and the dollar's fall against the yen. 
      The Dow Jones industrials finished the week at 10,524.1, a three-month low. 
      Even a Fed survey that showed brisk economic growth with no inflation couldn't 
      jump-start a rally. Only technology stocks were able to buck the downtrend.
      
      Data: Bloomberg Financial Markets
      
      STOCKS
      
                                                      % change
      U.S. MARKETS             Sept. 22       Week                Year
      Dow Jones Industrials    10,524.1       -2.6                33.3
      Nasdaq Composite           2858.2        1.6                68.3
      Nasdaq 100                 2513.9        2.1                88.1
      S&P MidCap 400              394.0       -1.8                27.1
      S&P SmallCap 600            176.0       -2.2                14.0
      S&P SuperComposite 1500     275.4       -0.7                26.9
      
                                                      % change
      SECTORS                   Sept. 22       Week               Year
      S&P/BARRA Growth            765.0        0.8                34.8
      S&P/BARRA Value             569.1       -2.1                18.9
      S&P Basic Materials         124.5       -2.9                14.0
      S&P Capital Goods          1009.7        0.1                37.6
      S&P Energy                  833.3       -3.3                19.2
      S&P Financials              123.9       -1.5                11.1
      S&P REIT                     77.2       -1.9               -16.3
      S&P Transportation          600.8       -5.4                -3.9
      S&P Utilities               245.8       -3.0                -1.3
      GSTI Internet               436.5        3.6               197.0
      Morgan Stanley Cyclical     550.7       -3.7                34.4
      PSE Technology              651.0        1.1               101.6
      
                                                      % change
      GLOBAL MARKETS            Sept. 22       Week               Year
      S&P Euro Plus              1337.7       -1.6                29.8
      London (FT-SE 100)         5913.9       -2.5                15.9
      Frankfurt (DAX)            5238.8       -2.8                14.5
      Tokyo (NIKKEI 225)       17,325.8       -2.5                25.6
      Hong Kong (Hang Seng)    13,187.6       -1.8                78.9
      Toronto (TSE 300)          6886.1       -2.5                18.3
      Mexico City (IPC)          4991.8        0.4                39.5
      
                                                           Week      Year
      FUNDAMENTALS                            Sept. 21     ago       ago
      S&P 500 Dividend Yield                    1.29%      1.26%     1.54%
      S&P 500 P/E Ratio (Trailing 12 mos.)      31.0       31.5      24.4
      S&P 500 P/E Ratio (Next 12 mos.)*         22.9       23.4      19.8
      First Call Earnings Revision*            -1.07%      5.80%    -5.87%
      
                                                          Week
      TECHNICAL INDICATORS                    Sept. 21    ago       Reading
      S&P 500 200-day average                 1301.2      1297.4    Positive
      Stocks above 200-day average              34.0%     37.0%     Positive
      Options: Put/call ratio                   0.63      0.54      Neutral
      Insiders: Vickers Sell/buy ratio          1.13      1.11      Positive
      
      BEST-PERFORMING              Last                               Last 12
      GROUPS                       month%                             months%
      Defense Electronics          11.7     Instrumentation           131.3
      Computer Software            10.6     Semiconductors            130.4
      Instrumentation               9.8     Communications Equip.     107.6
      Communications Equip.         9.5     Computer Systems           82.4
      Semiconductors                7.9     Invest. Banking/Brkrge,    72.3
      
      WORST-PERFORMING            Last                                Last 12
      GROUPS                      month%                              months%
      Furnishings & Appliances    -23.8     Pollution Control         -49.2
      Housewares                  -23.4     Manufactured Housing      -33.3
      Apparel Manufacturing       -21.7     Food Wholesalers          -26.0
      Metal & Glass Containers    -17.1     Tobacco                   -24.9
      Specialty Appar. Retailers  -15.7     Life Insurance            -22.3
      
      INTEREST RATES
      
                                                    Week           Year
      KEY RATES                     Sept. 22        ago            ago
      MONEY MARKET FUNDS            4.86%           4.83%          5.06%
      90-DAY TREASURY BILLS         4.80            4.75           4.68
      1-YEAR TREASURY BILLS         5.23            5.25           4.59
      10-YEAR TREASURY NOTES        5.91            5.94           4.67
      30-YEAR TREASURY BONDS        6.09            6.11           5.17
      30-YEAR FIXED MORTGAGE**      7.83            7.85           6.78
      
      **BanxQuote, Inc.
      
      BLOOMBERG MUNI YIELD EQUIVALENTS
      Taxable equivalent yields on AAA-rated, tax-exempt municipal bonds, assuming a 
      31% federal tax rate.
      
                                 10-yr. bond    30-yr. bond
      GENERAL OBLIGATIONS           4.92%          5.62%
      TAXABLE EQUIVALENT            7.13           8.14
      INSURED REVENUE BONDS         5.07           5.84
      TAXABLE EQUIVALENT            7.35           8.46
      
      MUTUAL FUNDS
      
      EQUITY FUND CATEGORIES
      Leaders                               Laggards
      Four-week total return      %         Four-week total return     %
      Japan                      9.6        Financial                -9.1
      Diversified Pacific/Asia   5.5        Large-cap Value          -5.8
      Technology                 4.3        Mid-cap Value            -5.8
      Precious Metals            4.2        Health                   -4.7
      Latin America              1.7        Natural Resources        -4.4
      
      Leaders                               Laggards
      52-week total return        %         52-week total return       %
      Technology               113.2        Real Estate              -0.6
      Japan                    108.7        Precious Metals           4.8
      Diversified Pacific/Asia  87.5        Financial                 8.5
      Pacific/Asia ex-Japan     85.7        Small-cap Value          11.2
      Communications            69.3        Domestic Hybrid          12.8
      
      BW PRODUCTION INDEX
      The production index dipped in the week ended Sept. 4. Before calculation of 
      the four-week moving average, the index fell 0.2%, to 149.6, from 149.9. Truck 
      and coal production dropped after seasonal adjustment. Output of steel, autos, 
      electric power, crude oil, and lumber were up. Rail-freight traffic also rose, 
      and the Association of American Railroads noted that railroads recorded their 
      third-largest weekly volume ever for intermodal freight.
      
      
Before it's here, it's on the Bloomberg Terminal. LEARN MORE