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BusinessWeek: January 17, 2000 |
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Figures of the Week
Figures of the Week
COMMENTARY
On the first trading day of the millennium, Jan. 3, the Nasdaq rose 1.5%, to a
record 4131, led by tech shares. The S&P 500 and Dow both fell. But the next
day, the Nasdaq plunged 229 points, or 5.6%. The Dow fell 360 points, or 3.2%,
and the S&P 500 sank 56 points, or 3.8%. Tech shares led the route. Blame
interest-rate fears.
Data: Bloomberg Financial Markets
STOCKS
---------% change---------
Year-to Last 12
U.S. MARKETS Jan. 5 Week date months
Dow Jones Industrials 11,122.7 -3.2 -3.3 19.5
Nasdaq Composite 3877.6 -4.1 -4.7 72.2
Nasdaq 100 3507.3 -4.9 -5.4 84.3
S&P MidCap 400 426.4 -3.6 -4.1 9.2
S&P SmallCap 600 188.2 -3.7 -4.9 6.7
S&P SuperComposite 1500 294.9 -4.1 -4.5 12.2
S&P/BARRA Growth 844.4 -4.8 -4.8 20.0
S&P/BARRA Value 584.6 -3.5 -4.3 4.3
S&P Basic Materials 138.9 0.7 0.5 21.8
S&P Capital Goods 1042.4 -5.5 -6.1 17.9
S&P Energy 818.5 -2.1 -1.9 14.2
S&P Financials 121.0 -8.3 -9.0 -8.2
S&P REIT 72.7 -0.5 -1.3 -15.4
S&P Transportation 573.6 -3.7 -3.9 -15.5
S&P Utilities 229.4 1.7 1.0 -11.4
GSTI Internet 697.0 -4.1 -2.2 105.4
Morgan Stanley Cyclical 566.4 -2.3 -3.3 16.9
PSE Technology 910.0 -5.0 -6.4 96.7
-----------% change-----------
Year-to Last 12
GLOBAL MARKETS Jan. 5 Week date months
S&P Euro Plus 1450.1 -4.6 -6.6 11.5
London (FT-SE 100) 6535.9 -3.6 -5.7 9.7
Frankfurt (DAX) 6502.1 -5.2 -6.6 23.8
Tokyo (NIKKEI 225) 18,542.6 0.0 -2.1 40.1
Hong Kong (Hang Seng) 15,846.7 -6.4 -6.6 60.2
Toronto (TSE 300) 8119.4 -3.9 -3.5 21.9
Mexico City (IPC) 6764.3 -3.5 -5.1 79.9
Week Year
FUNDAMENTALS Jan. 4 ago ago
S&P 500 Dividend Yield 1.20% 1.15% 1.27%
S&P 500 P/E Ratio (Trailing 12 mos.) 31.1 32.4 32.6
S&P 500 P/E Ratio (Next 12 mos.)* 24.0 25.4 24.2
First Call Earnings Surprise* 19.18% 4.79% 9.99%
*First Call Corp.
Week
TECHNICAL INDICATORS Jan. 4 ago Reading
S&P 500 200-day average 1431.1 1342.8 Positive
Stocks above 200-day average 25.0% 27.0% Positive
Options: Put/call ratio 0.46 0.45 Negative
Insiders: Vickers Sell/buy ratio 0.66 0.61 Positive
BEST-PERFORMING Last Last 12
GROUPS month% months%
Metals 28.2 Instrumentation 113.8
Health-Care Services 21.9 Aluminum 97.6
Aluminum 19.7 Communications Equip. 96.3
nstrumentation 14.6 Metals 81.3
Pollution Control 11.0 Semiconductors 73.4
WORST-PERFORMING Last Last 12
GROUPS month% months%
Major Regional Banks -19.1 Pollution Control -59.0
Money Center Banks -17.2 Tobacco -52.9
Savings & Loans -16.2 Office Equip. & Supplies -51.5
Toys -14.8 Manufactured Housing -43.7
Soft Drinks -13.5 Specialty Printing -41.1
MUTUAL FUNDS
EQUITY FUND CATEGORIES
Leaders Laggards
Four-week total return % Four-week total return %
Diversified Emerging Mkts. 13.8 Financial -7.4
Diversified Pacific/Asia 12.1 Large-cap Value -2.7
Pacific/Asia ex-Japan 11.5 Utilities -1.1
Technology 8.3 Mid-cap Value -1.0
Japan 7.8 Domestic Hybrid -0.5
Leaders Laggards
52-week total return % 52-week total return %
Technology 127.5 Financial -8.3
Japan 117.7 Real Estate -6.6
Diversified Pacific/Asia 98.8 Precious Metals -0.1
Pacific/Asia ex-Japan 79.4 Small-cap Value 0.4
Diversified Emerging Mkts. 71.3 Large-cap Value 1.6
INTEREST RATES
Week Year
KEY RATES Jan. 5 ago ago
MONEY MARKET FUNDS 5.39% 5.39% 4.75%
90-DAY TREASURY BILLS 5.43 5.23 4.47
1-YEAR TREASURY BILLS 6.04 5.93 4.53
10-YEAR TREASURY NOTES 6.60 6.40 4.73
30-YEAR TREASURY BONDS 6.62 6.45 5.17
30-YEAR FIXED MORTGAGE! 8.16 8.10 6.84
!BanxQuote, Inc.
BLOOMBERG MUNI YIELD EQUIVALENTS
Taxable equivalent yields on AAA-rated, tax-exempt municipal bonds, assuming a
31% federal tax rate.
10-yr. bond 30-yr. bond
GENERAL OBLIGATIONS 5.13% 5.90%
TAXABLE EQUIVALENT 7.43 8.55
INSURED REVENUE BONDS 5.33 6.21
TAXABLE EQUIVALENT 7.72 9.00
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  Return to top Production Index Components PRODUCTION INDICATORS
LATEST WEEK YEARLY
WEEK AGO% CHG
STEEL 1/1 thous. of net tons NA 2,238# NA
AUTOS 1/1 units 0 87,286r# NM
TRUCKS 1/1 units 1,971 121,872r# NM
ELECTRIC POWER 1/1 millions of
kilowatt-hrs. 65,122 67,900# 1.5
CRUDE-OIL REFINING 1/1 thous. of bbl./day 14,470 14,377# -5.7
COAL 12/25 thous. of net tons 18,837# 22,212 24.8
LUMBER 12/25 millions of ft. NA# 515.5 NA
RAIL FREIGHT 12/25 billions of ton-miles 23.2# 28.5 19.6
Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison
Electric Institute, American Petroleum Institute, Energy Dept., WWPA, SFPAFD,
Association of American Railroads
LEADING INDICATORS
LATEST WEEK
YEARLY
WEEK AGO%
CHG
ECRI LEADING INDEX 12/24 1992=100 124.8 125.7
3.9
STOCK PRICES 12/30 S&P 500 1469.25 1458.34
19.5
CORPORATE BOND YIELD, Aaa 12/31 7.64% 7.59%
22.6
MONEY SUPPLY, M2 12/20 billions $4,670.7 $4,642.2r
6.0
INITIAL CLAIMS, UNEMPLOYMENT 12/24 thous. 274 283r
-21.9
MORTGAGE APPLICATIONS, PURCHASE 12/31 238.0 253.3
-14.9
MORTGAGE APPLICATIONS, REFINANCE 12/31 302.9 338.1
-79.0
Sources: Economic Cycle Research Institute, Standard & Poor's, Moody's,
Federal Reserve, Labor Dept., Mortgage Bankers Assn. (Index: March 16,
1990=100)
PRICES
LATEST WEEK YEARLY
WEEK AGO% CHG
GOLD 1/5 $/troy oz. 280.450 287.300 -2.5
STEEL SCRAP 1/5 #1 heavy, $/ton 84.00 84.00 18.3
COPPER 12/31 cents/lb. 88.5 85.3 27.1
ALUMINUM 12/31 cents/lb. 78.0 74.5 30.0
COTTON 12/31 strict low middling
1-1/16 in., cents/lb. 47.06 46.79 -19.5
OIL 1/4 $/bbl. 25.59 26.60 115.9
CRB FOODSTUFFS 1/4 1967=100 178.57 178.96 -10.9
CRB RAW INDUSTRIALS 1/4 1967=100 267.31 265.67 1.5
Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis
market, NYMEX, Commodity Research Bureau
FOREIGN EXCHANGE
LATEST WEEK YEAR
WEEK AGO AGO
BRAZILIAN REAL 1/5 1.8370 1.8065 1.2092
BRITISH POUND 1/5 1.64 1.62 1.66
CANADIAN DOLLAR 1/5 1.45 1.45 1.51
EUROPEAN EURO 1/5 1.0331 1.0051 1.1628
JAPANESE YEN 1/5 103.89 102.10 112.88
KOREAN WON 1/5 1134.5 1142.0 1158.5
MEXICAN PESO 1/5 9.547 9.456 9.768
TRADE-WEIGHTED DOLLAR INDEX 1/5 105.5 106.1 104.6
Sources: Major New York banks. Currencies expressed in units per U.S. dollar,
except for British Pound and European Euro in dollars. Trade-weighted dollar
via J.P. Morgan.
INTEREST RATES
LATEST WEEK YEAR
WEEK AGO AGO
FEDERAL FUNDS 1/4 5.38% 5.33% 4.54%
COMMERCIAL PAPER 1/4 3-month 5.65 6.03 4.80
CERTIFICATES OF DEPOSIT 1/5 3-month 5.94 6.12 4.93
FIXED MORTGAGE 12/31 30-year 8.15 8.10 6.99
ADJUSTABLE MORTGAGE 12/31 one-year 6.56 6.51 5.75
PRIME 1/4 8.50 8.50 7.75
Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
#Raw data in the production indicators are seasonally adjusted in computing
the BW index (chart); other components (estimated listed) include machinery
and defense equipment. 1=Western Wood Products Assn. 2=Southern Forest
Products Assn. 3=Free marke value NA=Not available r=revised NM=Not
meaningful
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