European Stars and Stripes (Newspaper) - July 17, 1994, Darmstadt, Hesse                                Page 20 the stars and stripes Money matters sunday july 17. 1994 Dollar watch shown below Are Trie highest Dollar Exchange rates for the week of july 11 15 com area with Dollar rates for the same period one year and five years ago. German Mark Psi a Market could be ready for a swinging summer one Dollar would buy you 9 cd 1.90 .1.53 169 1989 1994 1993 a military Exchange rate British Pound one Pound would Cost you 1.58 1.52 1 61. Quot a a. A1994 1993 1969 belgian franc one Dollar would buy you 39-80 32.56 35.74 1994 1993 1989 dutch Guilder one Doliar would buy you 2.13 .1.76 1994 1.89 1993 1989 5.40 1994 French franc one Dollar would buy you. Quot 0-38 5,91 1993 by Patricia Lamiell the associated press new York a has the much touted summer Stock rally finally arrived some Wall Street insiders were triumphantly saying a yes a last week after thursdays sparkling rally a in the face of a firming Dollar and lower interest rates a did no to fade into the Sunset Friday. A a a a a. A my feeling is that the Market is searching for a Bottom that stocks have gone far enough that Dollar has do so ended far enough a said Byron Wien chief investment strategist at Morgan Stanley amp co. A basically i  re in a bottoming  the Dow Jones Industrial average closed fridays session at 3753.81, up 14.56 on the Day and 44.67 for the week. The Dow gained 62 Points in the previous week. Market participants said fridays activity could have been skewed by options expiration which often cause frenetic computer guided trading and can Lead to misleading movements in Stock indexes. Still some cited evidence both Funda Nientai and technical that stocks can put in some solid gains before autumn. For one thing the markets got indications last week that the Economy May not be growing at a wildly inflationary Pace. June producer and consumer prices came in about As expected and Industrial production excluding higher Utility use tied to hot weather Rose modestly. Business inventories grew As Well which could signal to manufacturers to slow Down production economists said. Unemployment claims Rose the lacklustre economic data boosted prices in the Bond Market where investors arc perpetually worried that a robust Economy could be inflationary. And the Dollar stabilized after a three week rout. Both of these factors helped the Stock Market. There Are also some technical reasons Dow Jones 3 new York a a rags Friday a Dow Jones closing Range of air Low close change High Low Closa change 30 industrials j 3769.35 3712.37 3753.81 up 14.56 20transport 1612.56 1587.49 1601.98 up4.03 15 utilities 184.22 181.26 183.23 up 0.72 65 stocks a a a 1307.18 1287.07 1300.54 up 4.70 new York Exchange. New York a sales pie 15 most Active new York nationally Friday. Nam Etc c p s. Motorola s. Texas list v Merck Micro tech 5 lil Yeti. Chrysler. Walmart a Ford motor s. Phill Morris a a a ism reps lads. Citicorp. A Compaq gone acc s 4 . Price and no la change of Slock Exchange issues trading volume 2,948.100 2.561.500 2.497.200 2,416,500 2.353.000 2,244,200. 2.210.000 2,0 60 000 a 2,009.800 1.685.500 1,841,300 1818,700 1.816,000  1,807,500 1.718.200 last chg. 15 a a 49 it Suli a Gilt. 295t Uriah 3�y -1.h 50th a a 48vl m �5v6 i 3l5i.unch 54 i w 56�?T4 tit 30lt 41w m i 34vi> -1 4714 i m Why stocks May rally at least Over the Short term. Utility stocks often viewed As a leading indicator for the Market arc showing signs of bottoming. And the proportion of advances to declines has widened said Edward Collins head of Block trading at Uaiwa securities America. Nearly twice As Many investors Are bearish As bullish noted Michael Burke editor of investors intelligence newsletter in new Rochelle n.y., which tracks investor sentiment. When the numbers get that lopsided Burke said it usually Means that everyone who wants to sell has already done so and the Market should go higher. Similarly sales of Short positions and puts which Are bets that the Market will fall have reached High Levels Burke american Exchange new Yoko up sales Closen g Price and net change n the 10 most Active american Slock Exchange issues Trad leg nationally Friday \ Nam volume last chg. Chucy frs. A a 1.1.11,700 9 a i Waco tit a. 1,046,700 5, it unc three free s a a 621,000 37h 6v a  a a. 444,100 6h a. Vac Nib ,438,500 31w via a Hasbro a 385,400 29w a. Ivan up Quot a a a 316,600 164h Ai excl Ltd a a a Quot. 313,000. 1 5/16 1/16 eng Ysac 5. A. 285.000 1fl a 4h Audre recon a a a 279,boo 1 1/16i  to Many people Are pessimistic there slots of Cash on the sidelines a Quot. A. But Ralph Acampora technical analyst at Prudential securities cautions that any gains made on such factors could be minimal. A the majority can be right for a while a he said. A it does no to mean you can have an instant explosion on the up side.�?�. Other doubters of the summer rally note that technology stocks which some analysts View As becoming another bellwether have been temperamental rising sharply thursday but falling just As sharply Friday. 1 and although second Quarter earnings reports have by and Large been Good investors have been unmerciful to any Stock whose company turns in anything the least bit negative. Stocks Are Selling at High premiums to earnings and investors need to see very respectable profits to. Justify current prices Collins said. Quot if you come in 30 cents above estimates your stacks up an eighth l2>/2 cent Sand if you come in a Penny below its Down 4 Points $4 a Collins said Acampora said there May indeed be. A summer rally but a so far i done to think the evidence is there to suggest a Broad based rally a greek drachma. One Dollar would buy you. 23830 229.1 s 163.05 or Mutual 1994 1993 1989 x italian lira one Dollar would buy you i.565 1.598 1,372 1994 1993 1989 Spanish peseta one Dollar would buy you 131,28 13.25 1994 1993 118.70 1989 turkish lira. One Dollar would buy you 31,000 994 11,183 1993 2,129 1989 j new York a Thi following quotations a from the National association of secure lifts dealers inc. Sio the a facts is which these. A out 1ic5 Puig have been Soli net asset value or bought value plus sales charge Friday. Sail buy chg. A amps Aal Mutual Bond p Carp mud p a most. A util p Harp invest Bis amp by a car Ifni m go hone a he by to fed Abt funds erg p r Hal of. Goth lip. 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Esgro eel no income 9.45 10,55 10.43. 9,95 10.04 9.54 a 9.64 17.00 13.18 18.09 a 15.33 no a no no ,01 no .02 no .02 no ,01 no .03 Access funds 17.00 01 ,13 01 10.09 15.33 ,q1 ,01 5 84 no int Feln a crag Sham Acornl a Acoma ads Ca p adv Bai p adv ret p Adverl adv am govt p. A a a Wii p  Inco p a Mubin a a Spicl p Aetna advisor Aetna t. Bond t it Loco t int mgr t taxer. Aetna select. Aetna Asi Angr Bond growth growl no into go. So Cor Alger funds Gnu the in Corr mid Cut a capt Alliance Cap Allan p. Balan p balt Bonda p Cost Van a prep a pc p. Count p Gidge p Gabsa p 11.50 tr.7j 11.9 15.91 13.03 2003 10.00 .9.55 8.99 16.09 8.73 12.27 9.30 19.33 10.48 9.73 10.83 11.47 9.31 1d.43 3 42 9.74 10.21 .10.83 11.49 9.98 19.39 11.51 11.2520.36 6 59 1327 14.10 .12 63 10.39 12.63 12.63 16.85 8.53 11 24 no 01 no of no 15.91j8 13.03 .05 20.65 .07 no .01 no 01 8 99 ,01 16.09 .02 8.73 12.27 9.30 19.33 .01 .02 .02 1q.4b�? 9.73 10.83, 11.47 9.31 .01 .03 01 no .01. No .12 no 10.21 a no. 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Naga nag p Nagac Agtha p put hip Gus a p 57 Mia p St Midi tech p Widen a .07.08 ,07  02. .02 .02, 02 .05 .05 7.35 8.20 7.85 7.35 7.85 7,85 2,29 .2.39. 20.39 20f3924.05 25,1220,38 20.382,23 2.28 11,60 11.60 9.71 9.71 9.53 9.959.53 9.53 9.53 9.53 18,70 19.53 18.21 19.21 8 41 8.78 8.41 8.41 8.41 8.41 9.67 10,10 9.67 9.67 9 67 1.64 8,43 8.07 10.35 9.91  9.91 9.07 12.4613.01 .02 12.47 12.47 .03 9.89 9.89 .03 9.29. .03 9.22 ,02 9.21 9.68 9.27 9.27 10.32 967 1.84 8.07 8.07 9.91 9.91 9.91 9.07 .02 .02 .01 .02 am South funds 9,29 9.22 9.21 9.27 9.27 9.27 9e 9.83 9.83 12.56 13.12 12.32 no 8.54 8.928 54 s.54-854 8.5411.48 11.9911.38 11.38 a �1.77 22.748.75 9.14 8.75 8.75 25.76 26 901.67 1 87 Balanc Bond equity a attn Ltd mat file Gfa a Manalac 11.74 12 29 1 10.49 10.81 14 77 15.47 9.40 9.g9 10.18 10.49-/ 16 68 t7.47 12.03 no .01 .02 .01 .02 .02 .02 .02 .02 .01 .01 .01 06 .07 .02 .57 .01 01 .01 .01 ambassador fid bal cd bund a esl Cor a growth id silk. 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Udor Amer capita cams tap -�,01 .01 .01 .07 ,02 Quot 09 02 ,01 .07 ,d9 .02 .01 .01 .01 .01 07 .09 .01 .01 12.24 no 13.85 no 12.34 no 9.76 no 03 a .04 .08 a Sib p cps Idip Cobda p a Marc p a Gap ego p Denlap Entz p a Seq inca p Estr Tab t eel acc p exch Fumga p pm Phi p Gienap go Fra p gig a p i gab p Gigic p Yimga p 15.68 16.64 15.69 15.69 6.60 6.60 6.60 6.93 23.28 23.28 23.43 24.91 23.01 23.01 11.63 12.55 11.74 11.74 5.33 5.66 5.32 5.32 5.32 5.32 111.69 12 09 12.37 12.10 12.10 11.86 12.5a 11.66 no 3 30 8.71 .8 34 no 8.28 no 9.52 9.99 .02 .02 .01 .14 ,14 .14 .03 .03 .01 .01 20 .03 .04 -�?ot01 .04 gig by i Mac p Gas Cap go Scop go Scop gvt97p Ovtia p Gutib p go tic p i Insp Gran cd p Harrap. Harby p his rap a Heyl dip. Cuba p Munib p. Pac eap Pace p res tap rest p resin p Vehap the hip a to Lap Treib p to map a trap Ruiria p i american funds 4 ral n 1 952 9,52 9.94 9 95 9,94.  ,13.13 8.29 6.79 8 29 12 47 12.48 13. B9 13 34 6,22 6,22 9.95 9.96 11.26 a 11.17 9.54 9.54 a 9.54 10.81 10.b1 11.07 11.06 9.76 8.55 a no no 10.44 9.95 9.94 13.54 b.70 3.29 a 8.29 a 13.23 12.43 14.74 13.34 6.53 6.22 10.45 9 96 11.95 a Alp am cup Amu top Bonds Capalb p Capp a a Cap we eur pack of deny p govt. Go lip Hitup of cop in Ted p Cap Ute neck p Nerp so cup to exp Recap temp Teva p wish p a a thud a Hurt la 12.12 11.84 21.31 13.21 32.15 15.35 17.70 21.63 17.94 13.18 26.11 14.05 13.57 13.36 18.43 14.06 14.47 15.09 22.49 11.61 1534 14.92 15.39 17.40 9.34 1.12 Sprng Amer Nali funds Goth 4.17 Inco 21.21 Timex 15.16 .04 .03 01 ,51 .01 .01 .02 .02 .01 .02 .02 .0? 11.17.-r ,02 10.02�? 9.549 54�? 11.35 10.81 11.62 11.06 10.25 8.98 .01 .01 it .02 .02 .02 .01 .01 .02 12.86 .03 12.56 .03 22.61 .04 13.87 .02 34.11 .07 16.12 .01 18.73 .09 23.00 .08 19.03 .02 13.64 .02 27,70 ,03 14.75.04 14.40 .03 14.03 01 19.55 .01 14,76 01 15.35 .0 16.01 .03 23.b6 ,01 12,19 .01 16.10 .01 15.66-f .02 16.16 02 18.46 .03 9.91 .01 no .01 4.42 .01 22 50 11 16.08 .04 api Gap. A am Peri Brm 1 12,13 no .05 Bond. 933 972 .01 equity. 11.37 11,84 .02in Ted 10.22 10.54 .01 int mtg. 10.34 10.66 .01 Mutt cd a a 19,91 no .02 Amway 7,25 7.47�? .02 analyst 9,72 9.72 .01 anal Al 11.96 no .03 Anchor cd 19.82 19.82 .02 Antt mgr p 10.66 a no a pull a funds a of. 1073 10.66 .01 go of 10.18 10.60 .02 hit 11 14 11.60 .01 Katf 10 34 10.77 .01 Naif 9.50 9.90 .02. Ort 10 33 ,76 .01 a to fut 9.39 a 9,78 .02 Aquinas fund Vaince. 9.52 no .02 Seq inc 9.58 no .03 fax inc 9.54 no .01 Arch funds bal. 9.76 10.22 .01 mgr 11.43 11.97 .0 adv up a 9.91 10.38. Grolnic 12.82 13.42 .01 Motif 11.07 11.59 .01 us gov 10.33 10.82 amsong 8.37 no. Atlanta p. 10.76 11.18 .01 Allas funds Cains 9.94 10.25  1082 11.15 .02 g4sca 9.87. 10.1-8 a i Lonca 13 44 13.86 .01 Yamuna 1083 11.16 .01 93 at funds balt 981 no .02 grown it 11.07 no ,d3 Quot in govt 9.50 no a Cit 9.85 no .01 a govt 9.71 a no 8ea fund Emke 21.44 21.44 .12 Ini Leq 19.86 19.86 12 Munizd 14,97 14.97 .01 stg fax p 15.56 1556 .04 us Fin 14 61 14.61 .02 by f,1 Tilida 975 no .01 bj3gia p 11 25 11 72 .01 Bible p 11.14 11.60 .15 but Hami Ingr i Linc 10.77 no lnlgn4 9 39 no Nyte a 9.94 no .01 Sab amp in group