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What Has Kept the Bull Alive

Two groups--technology and finance--accounted for 74% of profit increases 
recorded by the S&P 500 in the past two years

 SHARE OF S&P
                          PROFIT GROWTH*
FINANCIAL                       38.4%
TECHNOLOGY & COMMUNICATIONS     35.4%
HEALTH                          16.6%
UTILITIES AND TRANSPORTATION    10.3%
CAPITAL GOODS (EXCEPT COMPUTER)  8.8%
CONSUMER GOODS                   0.7%
ENERGY AND BASIC MATERIALS     -10.2%

*Fourth-quarter 1996 vs. fourth-quarter 1994, adjusted for mergers
DATA: STANDARD & POOR'S COMPUSTAT, BUSINESS WEEK


Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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