Investment Figures Of The Week

COMMENTARY
      Wow! Bond prices surged on expectations of an interest-rate cut by the Federal 
      Reserve, pushing the yield on 30-year Treasuries to 6.03%, the lowest level in 
      two years. The five-day total return for Treasury bonds, at a nifty 2.75% (see 
      bottom of page), eclipsed the 1.85% five-day return from U.S. stocks. The 
      euphoria in bondland carried over into the stock market, helping the Dow 
      continue its climb to ever-greater heights. The index racked up a 1.8% gain to 
      close the week a hair below 5200.
      
      MARKET ANALYSIS
                                                             % change
      U.S. STOCKS                               Latest    Week     52-week
      DOW JONES INDUSTRIALS                     5199.1    1.8      39.2
      MIDSIZE COMPANIES (S&P MidCap Index)      218.6     0.6      32.1
      SMALL COMPANIES (Russell 2000)            312.7     1.9      30.2
      ALL COMPANIES (Russell 3000)              353.6     1.9      37.1
      
      FUNDAMENTALS                              Latest    Week ago Year ago
      90-DAY TREASURY BILL YIELD                5.47%     5.48%    5.79%
      30-YEAR TREASURY BOND YIELD               6.03%     6.20%    7.89%
      S&P 500 DIVIDEND YIELD                    2.20%     2.46%    2.86%
      S&P 500 PRICE/EARNINGS RATIO              18.3      17.2     16.4
      
                                                 % change (local currency)
      FOREIGN STOCKS                            Latest    Week     52-week
      LONDON (FINANCIAL TIMES 100)              3662.8    0.2      21.6
      TOKYO (NIKKEI INDEX)                      19,067.9  2.9      -0.6
      TORONTO (TSE COMPOSITE)                   4745.1    1.6      16.3
      
      TECHNICAL INDICATORS                      Latest    Week ago Reading
      S&P 500 200-day moving average            548.5     545.3    Positive
      Stocks above 200-day moving average       67.0%     64.0%    Neutral
      Speculative sentiment: Put/call ratio     0.57      0.57r    Negative
      Insider sentiment: Vickers sell/buy ratio 1.52      1.64     Positive
      BLOOMBERG FINANCIAL MARKETS
      
      INDUSTRY GROUPS
                              % change                    % change
                             1-    12-   Strongest stock 1-    12-
      ONE-MONTH LEADERS      month month in group        month month Price
      
      1 METAL AND GLASS      17.8  11.7  CROWN CORK &    22.1  15.8  42 1/8
        CONTAINERS                       SEAL
      2 ENGINEERING AND      16.0  41.9  FLUOR           19.9  52.2  66 3/8
        CONSTRUCTION
      3 OIL AND GAS DRILLING 14.6  12.7  ROWAN           19.6  26.4  8  3/8
      4 DEFENSE ELECTRONICS  14.3  85.4  LORAL           16.7  79.4  35 7/8
      5 MANUFACTURED HOUSING 13.2  24.7  FLEETWOOD       13.2  29.6  24 5/8
                                         ENTERPRISES
      
                              % change                        % change
                             1-    12-   Weakest stock   1-    12-
      ONE-MONTH LAGGARDS     month month in group        month month Price
      1 SEMICONDUCTORS       -15.3 48.2  MICRON          -20.5 134.3 51 1/4
                                         TECHNOLOGY
      2 COMPUTER SYSTEMS      -6.3 38.2  COMPAQ COMPUTER -13.0  14.1 47 1/2
      3 SHOES                 -4.2 31.1  REEBOK          -23.2 -32.4 26 1/8
                                         INTERNATIONAL
      4 TRANSPORTATION        -2.0 31.4  FEDERAL EXPRESS  -5.3  45.5 80 3/4
        SERVICES
      5 PAPER CONTAINERS      -1.8  3.0  STONE CONTAINER  -7.5  -6.1 15 3/8
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      LEADERS                            LAGGARDS
      Four-week total return          %  Four-week total return        %
      1 MAP EQUITY                  10.2 STEADMAN TECHNOLOGY GROWTH -13.0
      2 WRIGHT EQUIFUND-MEXICO       9.3 EV MARATHON GREATER INDIA  -11.2
      3 DFA JAPANESE SMALL COMPANY   8.7 ROBERTSON STEPHENS          -9.9
                                         VALUE + GROWTH
      52-week total return            %  52-week total return          %
      1 ALGER CAPITAL APPRECIATION  87.4 WRIGHT EQUIFUND-MEXICO     -57.0
      2 GOVETT SMALLER COMPANIES A  85.1 EV MARATHON GREATER INDIA  -39.1
      3 FIDELITY SELECT ELECTRONICS 80.2 BT INVESTMENT LATIN        -38.8
                                         AMERICAN EQUITY
      DRI/McGRAW-HILL
      
      RELATIVE PORTFOLIOS
      
      Dollar amounts represent the present value of $10,000 invested one year ago in 
      each portfolio
      
      Percentages indicate five-day total returns
      
         U.S.      Treasury  Foreign   Money
         stocks    bonds     stocks    market fund   Gold
         $14,047   $13,493   $11,836   $10,561       $10,048
         +1.85%    +2.75%    +0.94%    +0.12%        -0.60%
      
      All data on this page are as of market close Wednesday, Dec. 6, 1995, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Dec. 5. Mutual fund returns 
      are as of Dec. 1. Relative portfolios are valued as of Dec. 5. A more detailed 
      explanation of this page is available on request. r=revised
      

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