January 2, 1997

When he left his army unit, took a bus from Jerusalem to Hebron and fired into a market yesterday, Pvt. Noam Friedman, above, joined the ranks of Jews who have used violence to block a peace accord they loathe. Like Yigal Amir, who shot Prime Minister Yitzhak Rabin in 1995, Private Friedman claimed religious justification. And like Dr. Baruch Goldstein, who killed 29 Muslims in Hebron in 1994, he turned his hatred on Palestinians.

The 90's so far have been marked by slow but steady economic growth and a strong stock market. Has the business market been tamed? How long can the bull market last? Business Day's annual survey of the economy, markets and industry, including year-end stock tables, begins on page C1. The Home Section begind today on page C37 and The Arts on page B13. Television listings, page B24.

Analysis; timetable set for House to weigh fate of Speaker Newt Gingrich places new pressure on Republican lawmakers, who must decide in virtual vacuum whether to retain him as Speaker; lawmakers will cast ballots on January 7 without final decision by Ethics Committee, which has delayed start of final proceedings until January 8, and without political cover of recommendation from committee on what punishment House should exact (M)

Bus driver crashes his bus into apartment building, Jersey City, after being assaulted by passenger (New Jersey Daily Briefing) (S)

Buying a Better Bottom Line Companies flush with cash but unable to increase revenues made 1996 a record year for mergers and acquisitions. Are there any good targets left? Page C3. Yes, the Euro No longer a joke, the European Union's common currency is set to become reality, even as many of the Continent's real problems go unaddressed. Page C9. Follow the Buyer With growth slowing at home, many American consumer goods makers are seeking customers abroad. But that may be harder to do than it sounds. Page C10. Opening Markets, Closing Doors Challenging Disney, the BBC and the Internet, China made it clear that it will welcome foreign investment but not freedom of ideas. Will the West go along? Page C12. Phone Free-for-All With deregulation the law and mergers reshaping the telecommunications landscape, expect a lot of lawsuits and surprises. Page C14. Bulls Run and Run (Nervously) Stocks rose to record heights. But the ifs have started to mount about earnings, savings and Alan Greenspan. Page C21. Year-end stock tables begin on page C25.