Investment Figures Of The Week

COMMENTARY

The U.S. markets seemed poised to reach record highs for much of the week. The

Dow Jones industrial average climbed for three straight days, peaking at 5671

on Mar. 26--just 12 points beneath the all-time record of 5683 on Mar. 18. But

the financial markets went into reverse on Mar. 27. Led by bonds, which fell

sharply, the Dow slid 44 points, to 5627. The bond market was hurt by reports

that a major money manager was selling bonds. Even a drop in U.S. factory

orders didn't help.

MARKET ANALYSIS

Investment Figures of the Week
      
                                                             % change
      U.S. STOCKS                               Latest    Week     52-week
      DOW JONES INDUSTRIALS                     5626.9    -0.5     35.2
      MIDSIZE COMPANIES (S&P MidCap Index)      229.6     -0.3     26.1
      SMALL COMPANIES (Russell 2000)            328.5     0.0      26.4
      ALL COMPANIES (Russell 3000)              369.9     -0.2     29.2
      
                                                 % change (local currency)
      FOREIGN STOCKS                            Latest    Week     52-week
      LONDON (FINANCIAL TIMES 100)              3672.4    -0.4     16.9
      TOKYO (NIKKEI INDEX)                      21,330.0  4.3      29.6
      TORONTO (TSE COMPOSITE)                   4987.5    0.5      16.0
      
      FUNDAMENTALS                              Latest    Week ago Year ago
      90-DAY TREASURY BILL YIELD                5.16%     5.14%    5.80%
      30-YEAR TREASURY BOND YIELD               6.68%     6.63%    7.37%
      S&P 500 DIVIDEND YIELD                    2.15%     2.16%    2.61%
      S&P 500 PRICE/EARNINGS RATIO              19.2      19.0     16.6
      
      TECHNICAL INDICATORS                      Latest    Week ago Reading
      S&P 500 200-day moving average            595.4     592.4    Positive
      Stocks above 200-day moving average       69.0%     67.0%    Neutral
      Speculative sentiment: Put/call ratio     0.60      0.61r    Neutral
      Insider sentiment: Vickers sell/buy ratio 2.50      2.13     Neutral
      BLOOMBERG FINANCIAL MARKETS
      
      INDUSTRY GROUPS
      
                           % change                      % change
                          1-    12-   Strongest stock   1-    12-
      ONE-MONTH LEADERS   month month in group          month month  Price
      1 SHOES             28.4  66.2  NIKE              34.0  128.9  85 1/4
      2 ALUMINUM          11.9  38.6  ALCOA             13.7   55.4  63 1/2
      3 SPECIALTY APPAREL 10.5  32.3  CHARMING SHOPPES  27.0   -7.0   5
        RETAILERS
      4 GENERAL            9.6   9.0  KMART             24.6  -31.7   8 7/8
        MERCHANDISE CHAINS
      5 AUTOMOBILES        8.8  35.2  CHRYSLER          15.6   59.2  62 7/8
      
                          % change                        % change
                         1-    12-   Weakest stock       1-    12-
      ONE-MONTH LAGGARDS month month in group            month month Price
      1 COMMUNICATIONS   -13.5 37.2  BAY NETWORKS        -39.1 15.8  28 3/8
        EQUIPMENT
      2 COMPUTER SYSTEMS -13.4 29.8  DIGITAL EQUIPMENT   -31.0 42.2  50 1/8
      3 TOBACCO          -10.7 28.9  PHILIP MORRIS       -11.4 32.8  89
      4 BROADCASTING      -9.5 23.8  TELE-COMMUNICATIONS -10.6 17.5  19
      5 SEMICONDUCTORS    -8.6  7.2  LSI LOGIC           -29.0 -7.7  26 3/8
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      
      LEADERS                       LAGGARDS
      Four-week total return     %  Four-week total return         %
      1 DREYFUS AGGRESSIVE      9.4 MERRILL LYNCH TECHNOLOGY D  -13.2
        GROWTH
      2 VONTOBEL EASTERN        9.0 FIDELITY SELECT COMPUTERS   -11.0
        EUROPEAN EQUITY
      3 FONTAINE CAPITAL        8.4 SELIGMAN COMMUNICATIONS     -10.4
        APPRECIATION                AND INFORM. D
      
      52-week total return       %  52-week total return           %
      1 MIDAS                  79.8 STEADMAN TECHNOLOGY GROWTH  -20.8
      2 INVESCO STRATEGIC GOLD 78.3 EV MARATHON GREATER INDIA   -19.6
      3 IDS PRECIOUS METALS A  75.4 STEADMAN AMERICAN INDUSTRY  -17.0
      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
         $13,298    $11,890    $11,559     $10,554        $10,401
         +0.20%     +0.90%     +1.39%      +0.11%         +1.06%
      
      All data on this page are as of market close Wednesday, Mar. 27, 1996, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Mar. 26. Mutual fund 
      returns are as of Mar. 22. Relative portfolios are valued as of Mar. 26. A more 
      detailed explanation of this page is available on request. r=revised
      
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