Investment Figures Of The Week

COMMENTARY

Federal Reserve Chairman Alan Greenspan's semiannual testimony on the state of

the economy roiled stock and bond markets. The bond market plunged on fears

that another cut in short-term interest rates was no longer in the cards. That

prospect sent the yield on the 30-year Treasury racing from 6.2% to 6.4% in one

day. The stock market had a volatile week as well, with the Dow suffering a

four-day losing streak until gaining 57.4 points on Feb. 21, to close at 5516.

Rallies in computer stocks such as Hewlett-Packard and IBM helped shave the

stock market's weekly decline to 1.1%.

MARKET ANALYSIS

Investment Figures of the Week
                                                            % change
      U.S. STOCKS                               Latest   Week     52-week
      DOW JONES INDUSTRIALS                     5516.0   -1.1     38.8
      MIDSIZE COMPANIES (S&P MidCap Index)      227.2    0.3      27.9
      SMALL COMPANIES (Russell 2000)            321.3    0.1      26.5
      ALL COMPANIES (Russell 3000)              368.8    -0.8     33.1
      
      FUNDAMENTALS                              Latest   Week ago Year ago
      90-DAY TREASURY BILL YIELD                4.94%    4.93%    5.83%
      30-YEAR TREASURY BOND YIELD               6.37%    6.09%    7.54%
      S&P 500 DIVIDEND YIELD                    2.13%    2.10%    2.68%
      S&P 500 PRICE/EARNINGS RATIO              18.8     18.9     16.3
      
                                                % change (local currency)
      FOREIGN STOCKS                            Latest   Week     52-week
      LONDON (FINANCIAL TIMES 100)              3725.6   -0.5     23.4
      TOKYO (NIKKEI INDEX)                      20,372.2 -2.7     12.5
      TORONTO (TSE COMPOSITE)                   4961.1   -1.9     20.4
      
      TECHNICAL INDICATORS                      Latest   Week ago Reading
      S&P 500 200-day moving average            580.4    577.9    Positive
      Stocks above 200-day moving average       70.0%    72.0%    Neutral
      Speculative sentiment: Put/call ratio     0.68     0.69r    Neutral
      Insider sentiment: Vickers sell/buy ratio 1.75     1.66     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 OIL AND GAS DRILLING 27.7 61.9 ROWAN               28.8 95.8 11 3/4
      2 MACHINE TOOLS        16.5 11.6 CINCINNATI MILACRON 25.7 24.3 26 7/8
      3 TOYS                 14.0 40.6 HASBRO              18.3 11.8 35 1/2
      4 COMMUNICATIONS       13.8 63.2 ANDREW              40.6 31.1 50 1/4
        EQUIPMENT
      5 AIRLINES             13.8 50.7 SOUTHWEST AIRLINES  27.3 71.3 29 1/8
                             % change                     % change
                            1-    12-   Weakest stock    1-    12-
      ONE-MONTH LAGGARDS    month month in group         month month Price
      1 SAVINGS AND LOANS   -5.1  32.2  H.F. AHMANSON     -6.5  36.2 23 1/2
      2 ALCOHOLIC BEVERAGES -3.0  20.7  ADOLPH COORS     -13.5  18.5 20
      3 REGIONAL TELEPHONE  -2.9  30.9  BELLSOUTH         -8.0  32.1 38 5/8
        COMPANIES
      4 POLLUTION CONTROL   -2.9   5.7  WMX TECHNOLOGIES  -4.2   9.1 28 3/8
      5 SHOES               -2.0  36.2  BROWN GROUP       -4.7 -60.9 12 3/4
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      LEADERS                            LAGGARDS
      Four-week total return          %  Four-week total return        %
      1 MONITREND GOLD              25.3 STEADMAN INVESTMENT         -3.9
      2 PIONEER INDIA A             18.8 WRIGHT EQUIFUND-MEXICO      -3.7
      3 INVESCO STRATEGIC GOLD      16.5 WARBURG PINCUS JAPAN        -2.6
                                         OTC COMMON
      52-week total return            %  52-week total return          %
      1 MIDAS                       96.4 AMERICAN HERITAGE          -22.9
      2 IDS PRECIOUS METALS A       82.6 STEADMAN TECHNOLOGY GROWTH -21.0
      3 ALGER CAPITAL APPRECIATION  80.7 EV MARATHON GREATER INDIA  -20.1
      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.      Foreign   Treasury   Money
         stocks    stocks    bonds      market fund   Gold
         $13,532   $12,342   $12,260    $10,561       $10,162
         -3.14%    -0.23%    -4.57%     +0.11%        -1.42%
      
      All data on this page are as of market close Wednesday, Feb. 21, 1996, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Feb. 20. Mutual fund 
      returns are as of Feb. 16. Relative portfolios are valued as of Feb. 20. A more 
      detailed explanation of this page is available on request. r=revised
      
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