The Daily Dow FOOL GLOBAL WIRE by Robert Sheard (TMF Sheard) LEXINGTON, KY. (Apr. 24, 1997) -- The Dow tried to get off to another strong start today, up nearly 80 points chiefly on the news that IBM <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: IBM)") else Response.Write("(NYSE: IBM)") end if %> came in with better-than-expected earnings after yesterday's close. But it couldn't hold the gains, despite IBM's 8% jump. Other earnings reports on the Dow today included PROCTER & GAMBLE <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: PG)") else Response.Write("(NYSE: PG)") end if %>, ALLIEDSIGNAL <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: ALD)") else Response.Write("(NYSE: ALD)") end if %>, and AMERICAN EXPRESS <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AXP)") else Response.Write("(NYSE: AXP)") end if %>. It was the bond market, however, that popped the early Dow balloon. In a nervous interest-rate environment, and comments by a Fed governor can throw the market into a tizzy. Laurence Meyer apparently made some additional "hawkish" comments about the economy, spooking the bond market, especially on the heels of a much smaller number of initial jobless claims in today's weekly employment report. Dow giant PHILIP MORRIS <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: MO)") else Response.Write("(NYSE: MO)") end if %> held its shareholders meeting today in Richmond, Virginia. Despite the hoopla surrounding the meeting, with protesters outside the meeting and many, many shareholders attending, hoping to get a clue about the current legal settlement negotiations, there was really nothing to be learned. As one might expect, Philip Morris isn't going to discuss publicly, even with shareholders, an ongoing negotiation. The stock, however, popped about 2.5% on the day. Earnings season for the Dow has turned out to be a good one, with most of the companies meeting or exceeding consensus estimates. The real test, of course, is how will the companies do in the second quarter, now that interest rates have been raised, and are likely to go up again in the coming months. (c) Copyright 1997, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. ________________________________

The Current BTD 10 AT&T <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:T)") else Response.Write("(NYSE:T)") end if %> *Philip Morris <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MO)") else Response.Write("(NYSE:MO)") end if %> *Intl. Paper <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IP)") else Response.Write("(NYSE:IP)") end if %> * Exxon <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:XON)") else Response.Write("(NYSE:XON)") end if %> *General Motors <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GM)") else Response.Write("(NYSE:GM)") end if %> Chevron <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CHV)") else Response.Write("(NYSE:CHV)") end if %> Eastman Kodak <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:EK)") else Response.Write("(NYSE:EK)") end if %> Minnesota Mining <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MMM)") else Response.Write("(NYSE:MMM)") end if %> J.P. Morgan <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:JPM)") else Response.Write("(NYSE:JPM)") end if %> DuPont <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DD)") else Response.Write("(NYSE:DD)") end if %> NOTE: Foolish four stocks are preceded by an asterisk. Updated Daily

1997 Foolish Four Model Stock Change Last -------------------- T - 5/8 30.88 GM - 3/4 55.50 CHV - 3/8 66.25 MMM + 1/8 86.13 Day Month Year FOOL-4 -1.03% -4.65% -8.75% DJIA -0.30% 3.17% 5.33% S&P 500 -0.32% 1.86% 4.11% NASDAQ +0.08% 0.52% -4.87% Rec'd # Security In At Now Change 1/2/97 120 3M 83.00 86.13 3.77% 1/2/97 153 Chevron 65.00 66.25 1.92% 1/2/97 179 Gen. Motor 55.75 55.50 -0.45% 1/2/97 479 AT&T 41.75 30.88 -26.05% Rec'd # Security In At Value Change 1/2/97 120 3M 9960.00 10335.00 $375.00 1/2/97 153 Chevron 9945.00 10136.25 $191.25 1/2/97 179 Gen. Motor 9979.25 9934.50 -$44.75 1/2/97 479 AT&T 19998.25 14789.13 -$5209.13 CASH $431.29 TOTAL $45626.17

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