In This Issue:

•Only Yesterday: On May 30, the S&P 500 finally recovered all ground lost in the 2000-02 bear market. How do current conditions compare to the previous record close seven years ago?

•Intelligencer: Headlines, Highlights, and What's on Our Minds

•The Observatory: Selected actions for June 4 through June 8.

•Dividends Abroad: Diversification pays, in more ways than one.

•Not Your Father's Utility: The once-sleepy sector, known mostly for high dividends, is shaking itself awake.

•Concentrating On Utilities

•Blowin' In The Wind: Should investors heed this season's storm warnings?

•Services Set PetSmart Apart: Pet-pampering promises powerful profit growth.

•Industry Momentum Portfolio: This Standard & Poor's portfolio identifies industries with the potential for above-average price performance.

Some of the Companies Featured:

AES
Allianz
Aqua America
Chunghwa Telecom
Dominion Resources
Enel
Exelon
GlaxoSmithKline
Mirant
Oneok
PPL
Public Service Enterprise Group
Sanofi-Aventis
Telecom Italia
UGI

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The Outlook
Search Engine Survey
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About Standard & Poor's

Standard & Poor's is one of the world's preeminent providers of credit ratings, and for such globally recognized financial-market indices as the S&P 500®. S&P also provides a wide range of other products and services designed to help individuals and institutions around the world make better-informed financial decisions with greater confidence.