BIZWATCH : MARKETS.

MARKET LOGIC: Stocks edged higher as investors, freed at least temporarily of interest rate worries, struggled to find incentives to push stocks further into record territory. The Dow Jones industrial average rose 3.33 to 5,877.36 after slipping from an early 21-point gain and trading in a narrow, indecisive range through the session.

MEMO

TURNING THE DIAL DOWN: Dial Corp. will pull nearly half of its product line off the shelves in the coming months as it undergoes a restructuring that includes eliminating 250 management jobs and a possible move from its Phoenix headquarters. Bruce floor wax and Magic spray starch were among the products that may be discontinued. Prices on some phased-out items will fall almost immediately, officials said. The company plans to take a one-time charge against earnings of about $50 million for the third quarter to cover the streamlining costs.

HOME ACCESSORIES: IBM plans to introduce its new home computers today, a line of black, space-saving machines. Its new Aptiva S Series separates the diskette and CD-ROM drives from the box that contains the main circuitry, allowing people to place the computer box away from the work area without sacrificing convenience. The system also features a distinctive monitor stand supported by elegant wide arches to provide space for the keyboard when not in use. Like new models from Toshiba and Sony, the monitor incorporates speakers and an optional woofer.

ORANGE COUNTY: Federal securities investigators may recommend civil charges against two senior Merrill Lynch & Co. executives for their roles in the Orange County bankruptcy scandal. Richard Fuscone, a managing director of Merrill's global debt markets division, and Robert Simonson, a managing director and former top money market trader, have been notified by investigators for the Securities and Exchange Commission that they are targets.

RIVALS: The Loewen Group Inc. of Canada rejected a $2.5 billion unsolicited takeover bid from rival funeral chain operator, Service Corp. International. Loewen, which escaped bankruptcy earlier this year, said it would continue as ``an independent company.'' But Houston-based Service, owner of more than 2,800 funeral homes worldwide, said it would continue to pursue its takeover bid.

STAYING ON TRACK: The Senate is ready to give four Amtrak passenger routes a six-month reprieve and provide money so they can continue running until May. The Senate Appropriations Committee plans to set aside $22.5 million for the Pioneer, Texas Eagle, Lake Shore Limited and Desert Wind, which was to end its Salt Lake City-Los Angeles run Nov. 10. In the past two years, lawmakers have cut Amtrak funding from $392 million annually to $200 million.

MISCELLANEOUS: Tyler Pacific of Los Angeles has purchased Westlake Business Park at Townsgate and Hampshire roads. The $7 million sale includes five buildings on seven acres, previously owned by RREEF Fund of San Francisco. . . . The Los Angeles law firm of Freeman, Freeman & Smiley has inaugurated the Vision Awards for charitable organizations and their founders. For nomination information, contact Julia Norris at [phone].

CAPTION(S):

Photo, 2 Charts

Photo: (Color) no caption (Computer)

Chart: (1--C olor) DOW INDUSTRIALS

(2--Color) BIZ FACTS

GROWING THE LATIN ECONOMY

Knight-Ridder Tribune Graphics Network