BIZWATCH : MARKETS.

MARKET LOGIC: The Dow Jones industrial average edged to its fifth record high in six sessions, in an unusually uneventful session. The Dow rose 5.39 to 6,709.18, recovering from a 34-point deficit over the last half-hour after surrendering a 30-point morning gain.

MEMO

T-BILLS MIXED: Interest rates on short-term Treasury securities were mixed in Monday's auction. The Treasury Department sold $11.6 billion in three-month bills at an average discount rate of 5.04 percent, up from 5.02 percent last week. Another $11.6 billion was sold in six-month bills at an average rate of 5.11 percent, which was unchanged. The three-month bill rate was the highest since they sold for 5.08 percent Dec. 30. The six-month bill rate was the highest since they averaged 5.15 percent Oct. 28.

TAX FORUM SET: Ernst & Young will hold a free forum Wednesday to discuss changes in U.S. tax regulations for companies and investors with offshore interests. The ``International Tax Current Development Forum'' is scheduled from 8:30 a.m. to noon at the Crowne Plaza Hotel, 5985 W. Century Blvd., Los Angeles, [phone]. The featured speaker will be tax specialist Peg O'Connor, who will talk about transfers of stock in U.S. corporations, whether overseas investments should be structured as foreign corporations or foreign partnerships and other issues. For more information, call [phone].

INTEL PICKS NEW LEADERS: Intel Corp. named chief executive officer Andrew S. Grove to the additional post of chairman Monday, replacing co-founder Gordon E. Moore in a retooling of the company's executive office. Moore becomes chairman emeritus but will continue to be a part of the company's three-person executive office, which includes chief operating officer Craig R. Barrett, at right, who also was named president. The changes are effective May 21.

GATEWAY RECALL: Computer maker Gateway 2000, Inc. said it is recalling some of its promotional videotapes because they might contain sexually explicit material. An unknown number of videotapes produced between Dec. 20, 1996, and Jan. 6 contained approximately 30 seconds of unauthorized material, the company said. It planned to contact any consumer who received a videotape that was produced during that period. Gateway officials said the offensive material apparently was inserted by a disgruntled employee of a video reproduction supplier.

SANYO SIGNS LEASE: Sanyo North America has signed a 10-year lease valued at $6.1 million for 65,000 square feet of office space in a two-story facility at 21605 Plummer St., Chatsworth. The building will serve as the corporate headquarters of its Sanyo Fisher Co. and consolidate corporate and sales activities currently in two buildings on Lassen Street.

STUDIO MAKES A DEAL: Burbank-based Matthews Studio Equipment Group announced it agreed to buy Miami-based Media Lighting Supply for approximately $1 million in cash and stock. The deal is expected to close by the end of the month.

BIZ FACTS

WELL-INSURED LIVES

Life insurance in force in the U.S. at years end:

1994 11.7 trillion

1995 12.6 trillion

CAPTION(S):

Photo, 2 Charts

Chart: (1) DOW INDUSTRIALS

(2) BIZ FACTS (see text)

Photo: No Caption (Craig R. Barrett)