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The Daily Dow SEATTLE, Wa., May 29 -- Greetings from Seattle, where our day was spent dealing with two emotions: (1) total shock at paying up to $150-250/ticket to see the Sonics lose a game in overtime that we were sure would be an easy win and (2) hopeful anticipation that rumors about British Airways placing an enormous $4.2 billion order with Boeing are true. The market dealt with its own set of emotions today. General caution seemed to prevail after Federal Reserve Board Governor Susan Phillips spoke at a conference and was reported to have said that although the economy was doing very well, there were some signs of wage inflation. The Dow Jones Industrial took her words to heart and dropped 35.84 to 5673.83. Our Foolish Four portfolio reflects the overall Dow drop by losing 1.37% today. Dupont (DD) and Chevron (CHV) contributed to our loss by declining $1 5/8 and $1, respectively. On the bright side, one of our stocks, (Eastman Kodak [EK]), was in the limelight today, as the Wall Street Journal said that EK was working with Microsoft to announce a new imaging technology designed to speed up editing and transmission of photos by computer. The market, however, ho-hummed at this news; EK closed unchanged at $74 3/4. The WSJ said this new technology is called "Nifty" and will allow users to manipulate and send images between the Internet and other services. I'd imagine Microsoft's clever marketing gurus are already feverishly conjuring up a difficult-to-remove "Nifty" icon for the Windows 96 desktop. Minnesota Mining and Manufacturing (MMM) dropped $1 1/4 to $69 on news that Donaldson Lufkin and Jenrette downgraded the stock from outperform to market perform. To me, the difference in these two ratings is miniscule enough to warrant a wholehearted yawn. On a different note, USA Today published an interesting article today on portfolio differences between men and women and the acute need for women to save more money for retirement than men. It states that although investment fundamentals are the same for women and men, women, in general, want easy-to-understand explanations of investment philosophies. Tomorrow, we'll explore how the Foolish 4 has performed over time and how this simple concept can form the foundation of a fool-proof, or rather Wise-proof, basis for investing for the future. Have a good evening. Transmitted: 5/29/96
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