Investment Figures Of The Week

COMMENTARY

A spectacular start for the fourth quarter: The Dow Jones industrials closed

above the 5900 mark on Oct. 1 and Oct. 2. It's up 16% so far this year. The

broader Standard & Poor's 500-stock index also reached record levels. The stock

market is getting its strength from investor optimism about corporate earnings,

a modest drop in long-term interest rates, and heavy inflows into equity mutual

funds. Secondary stocks also turned in strong performances, but have not yet

broken records set in the spring.

MARKET ANALYSIS

Investment Figures of the Week
      
                                                                % change
      U.S. STOCKS                                Latest      Week      52-week
      DOW JONES INDUSTRIALS                      5934.0      1.0       25.2
      MIDSIZE COMPANIES (S&P MidCap Index)       243.3       1.1       16.1
      SMALL COMPANIES (Russell 2000)             348.2       1.3       15.7
      ALL COMPANIES (Russell 3000)               395.2       1.3       18.7
      
      FUNDAMENTALS                               Latest    Week Ago    Year Ago
      90-DAY TREASURY BILL YIELD                 5.02%       5.04%       5.45%
      30-YEAR TREASURY BOND YIELD                6.83%       6.92%       6.43%
      S&P 500 DIVIDEND YIELD                     2.09%       2.11%       2.34%
      S&P 500 PRICE/EARNINGS RATIO               19.9        19.7        16.8
      
                                                    % change (local currency)
      FOREIGN STOCKS                        Latest      Week      52-week
      LONDON (Financial Times 100)          4015.1      2.0       13.3
      TOKYO (Nikkei Index)                  21,498.6    0.7       18.5
      TORONTO (TSE Composite)               5388.0      1.2       19.9
      
      TECHNICAL INDICATORS                       Latest   Week ago   Reading
      S&P 500 200-day moving average             650.7    648.9     Positive
      Stocks above 200-day moving average        59.0%    57.0%r    Neutral
      Speculative sentiment: Put/call ratio      0.53     0.51r     Negative
      Insider sentiment: Vickers sell/buy ratio  1.52     1.27      Positive
      
      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.OIL AND GAS       17.8  101.6  ROWAN               22.8  151.7 18 7/8
       DRILLING
      2.MEDICAL PRODUCTS
       AND SUPPLIES       15.2  19.7   BOSTON SCIENTIFIC   24.8  31.6  57 1/4
      3.SEMICONDUCTORS    12.4 -7.5    MICRON TECHNOLOGY   28.0 -63.3  29 1/8
      4.DRUG CHAINS       11.9  28.9   RITE AID            14.1  29.9  36 3/8
      5.MANUFACTURED                   FLEETWOOD
       HOUSING            11.7  56.0    ENTERPRISES        11.7  56.0  31
      
                             % change                         % change
                           1-    12-     Weakest stock       1-     12-
      ONE-MONTH LAGGARDS   month month   in group           month  month Price
      1.SPECIALTY APPAREL -8.5   37.9    GAP               -18.6   58.3  28 1/2
       RETAILERS
      2.GOLD MINING       -5.8  -3.4     ECHO BAY MINES    -10.7  -18.4  8 7/8
      3.DEFENSE
       ELECTRONICS        -5.3   34.1    EG&G              -5.3   -9.0   17 3/4
      4.BROADCASTING      -5.1  -19.8    US WEST MEDIA     -7.6    NA    16 3/4
                                          GROUP
      5.ENGINEERING AND
       CONSTRUCTION       -5.0   6.5     FLUOR             -7.0    6.3   59 1/2
      
      MUTUAL FUNDS
      
      LEADERS                            LAGGARDS
      Four-week total return    %        Four-week total return          %
      1.ROBERTSON STEPHENS
       INFORMATION AGE        18.6       PIONEER INDIA B              -10.3
      2.MERRILL LYNCH
       TECHNOLOGY B           16.8       CAPPIELLO-RUSHMORE GOLD      -8.8
      3.PIMCo ADVISORS
       INNOVATION A           14.9       EV MARATHON GREATER INDIA    -8.1
      
      52-week total return     %        52-week total return             %
      1.LANDMARK SMALL CAP
       EQUITY A              72.4       STEADMAN TECHNOLOGY GROWTH    -44.9
      2.GT GLOBAL CONSUMER
       PRODS. & SVCS.        54.5       MATTHEWS KOREA                -24.5
      3.IDS PRECIOUS
       METALS A              53.0       UNITED SERVICES GOLD SHARES   -23.9
      
      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
         $12,118       $11,434          $10,519       $10,195      $9,728
          +0.51%        +1.54%           +0.11%        +1.58%      -1.10%
      
      DRI/McGRAW-HILL
      
      All data on this page are as of market close Wednesday, Oct. 2, 1996, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Oct. 1. Mutual fund returns 
      are as of Sept. 27. Relative portfolios are valued as of Oct. 1. A more 
      detailed explanation of this page is available on request. r=revised NA=Not 
      available
      
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