Investment Figures Of The Week

COMMENTARY

Despite the decision by the Federal Reserve on Aug. 20 not to raise rates, U.S.

stocks hardly moved for the week. Clearly the markets had already factored in

the Fed's nonaction. The performance overseas was another story: The London

market hit a new high; the Nikkei, after bouncing around for weeks, zoomed

ahead and broke through the 21,000 level; and the Mexican Bolsa, reflecting a

much improved economy, surged a stunning 18.5% for the week. Note the top

performing mutual fund over the last four weeks: Wright EquiFund-Mexico.

MARKET ANALYSIS

Investment Figures of the Week
      
                                                                % change
      U.S. STOCKS                                Latest      Week      52-week
      DOW JONES INDUSTRIALS                      5689.8      0.4       24.1
      MIDSIZE COMPANIES (S&P MidCap Index)       231.3       0.7       9.9
      SMALL COMPANIES (Russell 2000)             328.9       0.7       8.0
      ALL COMPANIES (Russell 3000)               376.5       0.4       17.1
      
      FUNDAMENTALS                               Latest    Week Ago    Year Ago
      90-DAY TREASURY BILL YIELD                 5.13%       5.17%       5.59%
      30-YEAR TREASURY BOND YIELD                6.83%       6.79%       6.91%
      S&P 500 DIVIDEND YIELD                     2.16%       2.18%       2.42%
      S&P 500 PRICE/EARNINGS RATIO               19.0        18.9        16.0
      
                                                    % change (local currency)
      FOREIGN STOCKS                        Latest      Week      52-week
      LONDON (FINANCIAL TIMES 100)          3872.1       1.0       10.1
      TOKYO (NIKKEI INDEX)                  21,275.0     1.4       20.0
      TORONTO (TSE COMPOSITE)               5167.1       2.3       12.1
      
      TECHNICAL INDICATORS                         Latest   Week ago   Reading
      S&P 500 200-day moving average               640.8    638.8      Positive
      Stocks above 200-day moving average          57.0%    54.0%r     Neutral
      Speculative sentiment: Put/call ratio        0.59     0.59r      Negative
      Insider sentiment: Vickers sell/buy ratio    1.43     1.66       Neutral
      
      DATA: BLOOMBERG FINANCIAL MARKETS
      
      INDUSTRY GROUPS
                             % change                         % change
                            1-    12-  Strongest stock       1-    12-
      ONE-MONTH LEADERS   month month    in group            month month Price
      1.HMOs              12.9  17.9   UNITED HEALTHCARE     13.2 -11.5  38 5/8
      2.APPAREL
       MANUFACTURING      11.1  17.1   LIZ CLAIBORNE         17.7  48.4  34 3/8
      3.MAJOR REGIONAL
       BANKS              10.9  34.6   COMERICA              17.7  43.4  49 7/8
      4.METAL AND GLASS
       CONTAINERS         10.2  4.0    CROWN CORK & SEAL     11.3  11.3  48 3/4
      5.DIVERSIFIED
       MANUFACTURING      10.2  25.1   ALLIEDSIGNAL          14.7  41.1  63 7/8
      
                             % change                         % change
                           1-    12-     Weakest stock       1-     12-
      ONE-MONTH LAGGARDS   month month   in group           month  month Price
      1.TOBACCO           -9.4   19.6    PHILIP MORRIS     -10.0   22.9  91 1/2
      2.REGIONAL TELEPHONE
       COMPANIES          -3.7   8.0     BELLSOUTH         -9.6    13.8  38 1/8
      3.TRANSPORTATION
       SERVICES           -3.6   7.7     FEDERAL EXPRESS   -6.1   -0.5   74 3/8
      4.TRUCKING          -3.5  -38.6    CALIBER SYSTEM    -13.2  -59.2  18 3/4
      5.HARDWARE
       AND TOOLS          -1.8   21.1    STANLEY WORKS     -5.4    34.7  28 3/4
      
      MUTUAL FUNDS
      
      LEADERS                            LAGGARDS
      Four-week total return    %        Four-week total return          %
      1.WRIGHT EQUIFUND-MEXICO 11.2      PIONEER INDIA B              -15.0
      2.FIDELITY SELECT
       MEDICAL DELIVERY        9.4       EV MARATHON GREATER INDIA    -9.9
      3.ROBERTSON STEPHENS
       VALUE & GROWTH          9.0       AMERICAN HERITAGE            -7.8
      
      52-week total return     %        52-week total return             %
      1.LANDMARK SMALL CAP
       EQUITY A               63.9      STEADMAN TECHNOLOGY GROWTH    -38.6
      2.MONITREND GOLD        50.4      UNITED SERVICES GOLD SHARES   -26.4
      3.FONTAINE GLOBAL                 RESERVE INFORMED INVESTORS
       GROWTH                 47.8       GROWTH A                     -24.8
      
      MORNINGSTAR INC.
      
      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. stocks  Foreign stocks  Money market fund   Gold   Treasury bonds
         $12,218       $11,387       $10,703       $10,524       $10,141
          +0.83%       +0.52%         -0.23%        +0.11%       -0.13%
      
      DRI/McGRAW-HILL
      
      All data on this page are as of market close Wednesday, Aug. 21, 1996, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Aug. 20. Mutual fund 
      returns are as of Aug. 16. Relative portfolios are valued as of Aug. 20. A more 
      detailed explanation of this page is available on request. r=revised
      
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