If undertaken, it would be aimed at extending, not ending, the current economic expansion.

What we're seeing as we look into the futures markets presently are increases that seem to be never ending,

Investors believe it is simply not acceptable to be environmentally irresponsible.

Such a 'flu shot' is now widely expected and would be unlikely to unsettle investors beyond a transitory period.

We expect 1999 and 2000 to be years of ongoing profit expansion, with better aggregate gains than 1998, which was disappointing.

The basic conclusion is that 1999-2000 will bring further gains in corporate profits, mild-mannered inflation and a generally favorable outcome for equity prices. Increasing confidence that the economic expansion will continue through our newly-extended forecast horizon encourages a modest upward revision in stock price targets.