COMMENTARY
      Another record week for the Nasdaq composite index. So far this year, that 
      high tech-laden index has risen a breathtaking 44%, dwarfing the gains of both 
      the Dow industrials and the S&P 500 index. The much-awaited United Parcel 
      Service initial public offering, the largest U.S. IPO ever, made its debut on 
      Nov. 10. Priced at $50 a share, it closed at 67 1/4.
      
      Data: Bloomberg Financial Markets
      
      STOCKS
      
                                                 % change
      U.S. MARKETS                 Nov. 10     Week    12 mos.
      Dow Jones Industrials        10,597.7    -0.1    19.6
      Nasdaq Composite             3155.8       4.2    69.2
      Nasdaq 100                   2797.7       4.7    89.4
      S&P MidCap 400               415.5        2.5    19.7
      S&P SmallCap 600             180.9        0.8    8.8
      S&P SuperComposite 1500      288.6        1.4    21.2
      
                                                  % change
      SECTORS                      Nov. 10      Week   12 mos.
      S&P/BARRA Growth             806.7        1.7    28.1
      S&P/BARRA Value              592.2        0.9    14.7
      S&P Basic Materials          128.0        0.9    10.4
      S&P Capital Goods            1014.0       1.0    22.4
      S&P Energy                   839.3        4.4    18.6
      S&P Financials               139.4       -0.2    15.4
      S&P REIT                     74.2        -1.8   -13.8
      S&P Transportation           631.5        1.3     0.7
      S&P Utilities                238.3       -2.7    -7.8
      GSTI Internet                515.6        8.7   147.8
      Morgan Stanley Cyclical      538.6       -0.4    15.4
      PSE Technology               726.9        6.2    93.2
      
                                                  % change
      GLOBAL MARKETS               Nov. 10      Week   12 mos.
      S&P Euro Plus                1371.0       2.5    24.3
      London (FT-SE 100)           6447.0       2.6    18.7
      Frankfurt (DAX)              5742.4       3.3    23.2
      Tokyo (NIKKEI 225)           18,567.9     3.2    31.6
      Hong Kong (Hang Seng)        13,975.5     5.4    43.8
      Toronto (TSE 300)            7366.5       1.8    17.7
      Mexico City (IPC)            5963.8       2.9    44.0
      
                                                       Week         Year
      FUNDAMENTALS                         Nov. 9      ago          ago
      S&P 500 Dividend Yield                 1.24%     1.25%        1.40%
      S&P 500 P/E Ratio (Trailing 12 mos.)   30.5      29.9         28.8
      S&P 500 P/E Ratio (Next 12 mos.)*      23.7      23.3         21.8
      First Call Earnings Revision*         -2.00%    -1.60%       -4.77%
      
      *First Call Corp.
      
                                                       Week
      TECHNICAL INDICATORS                 Nov. 9      ago        Reading
      S&P 500 200-day average              1317.2    1314.1       Positive
      Stocks above 200-day average           32.0%     31.0%      Positive
      Options: Put/call ratio                 0.49     0.55       Negative
      Insiders: Vickers Sell/buy ratio        0.83     1.09       Positive
      
      BEST-PERFORMING          Last                                   Last 12
      GROUPS                   month%                                 months%
      Insurance Brokers         19.6          Communications Equip.    117.1
      HMOs                      16.9          Semiconductors           103.6
      Communications Equip.     16.7          Broadcasting              84.6
      Oil & Gas Drilling        14.0          Instrumentation           80.9
      Multiline Insurers        13.9          Computer Software         66.0
      
      WORST-PERFORMING          Last                                  Last 12
      GROUPS                    month%                                months%
      Tobacco                  -27.3          Pollution Control        -60.1
      Machine Tools            -24.4          Tobacco                  -51.7
      Office Equip. & Supplies -21.5          Toys                     -49.5
      Specialty Printing       -20.2          Food Wholesalers         -38.9
      Shoes                    -17.2          Office Equip. & Supplies -38.3
      
      INTEREST RATES
      
                                                   Week          Year
      KEY RATES                     Nov. 10        ago           ago
      MONEY MARKET FUNDS             5.07%        5.05%          4.84%
      90-DAY TREASURY BILLS          5.19          5.12          4.55
      1-YEAR TREASURY BILLS          5.49          5.46          4.53
      10-YEAR TREASURY NOTES         5.97          6.01          4.82
      30-YEAR TREASURY BONDS         6.08          6.14          5.29
      30-YEAR FIXED MORTGAGE***      7.86          7.86          6.90
      
      ***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         4.97%            5.72%
      TAXABLE EQUIVALENT          7.20             8.29
      INSURED REVENUE BONDS       5.19             6.05
      TAXABLE EQUIVALENT          7.52             8.77
      
      MUTUAL FUNDS
      
      EQUITY FUND CATEGORIES
      
      Leaders                                   Laggards
      Four-week total return     %              Four-week total return       %
      Technology               14.7             Precious Metals           -10.5
      Latin America            11.3             Natural Resources          -0.5
      Small-cap Growth         11.0             Real Estate                -0.2
      Mid-cap Growth            9.5             Small-cap Value             1.6
      Financial                 8.2             Health                      1.8
      
      Leaders                                   Laggards
      52-week total return       %              52-week total return         %
      Technology              119.8             Real Estate                -4.8
      Japan                   100.9             Precious Metals            -4.1
      Communications           71.5             Small-cap Value             1.8
      Diversified Pacific/Asia 68.7             Mid-cap Value               5.3
      Small-cap Growth         50.1             Large-cap Value             9.1
      
      
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