Businessweek Archives

Commentary


Investment Figures of the Week

COMMENTARY

The numbers on inflation came up roses--and the markets cheered. The news that

the PPI fell 0.3% for June and that consumer prices showed no increase at all

sent bond prices flying. As rates on 30-year Treasuries set another record low,

stocks took off. The Dow forged ahead almost 70 points for the week to within a

whisker of the record, ditto for the S&P 500. Even Tokyo managed to break over

the 20,000 level. Gold, which had come ever-so-close to the $400-an-ounce mark,

retreated.

MARKET ANALYSIS

% change

U.S. STOCKS Latest Week 52-week

DOW JONES INDUSTRIALS 3542.6 1.9 5.9

MIDSIZE COMPANIES (S&P MidCap Index) 167.7 0.6 16.4

SMALL COMPANIES (Russell 2000) 237.8 2.0 24.4

ALL COMPANIES (Russell 3000) 259.6 1.7 10.8

% change (local currency)

FOREIGN STOCKS Latest Week ago Year ago

LONDON (FINANCIAL TIMES 100) 2832.3 -0.6 13.9

TOKYO (NIKKEI INDEX) 20,139.1 2.1 17.7

TORONTO (TSE COMPOSITE) 3941.7 -0.8 13.5

FUNDAMENTALS Latest Week ago Year ago

90-DAY TREASURY BILL YIELD 3.06 % 3.10 % 3.25 %

30-YEAR TREASURY BOND YIELD 6.56 % 6.68 % 7.63 %

S&P 500 DIVIDEND YIELD .84 % 2.84 % 3.01 %

S&P 500 PRICE/EARNINGS RATIO 21.3 20.9 23.6

TECHNICAL INDICATORS Latest Week ago Reading

S&P 500 26-week moving average 445.1 444.4 Positive

Stocks above 26-week moving average 58.8 % 55.9% Negative

Speculative sentiment: Put/call ratio 0.42 0.44 Positive

Insider sentiment: Vickers sell/buy ratio 2.32 2.27 Neutral

BRIDGE INFORMATION SYSTEMS INC.

INDUSTRY GROUPS

% change Strongest % change

FOUR-WEEK LEADERS 4-week 52-week stock in group 4-week 52-week Price

MANUFACTURED HOUSING 17.6 41.4 FLEETWOOD ENTERPRISES 22.6 48.7 21

HOSPITAL MANAGEMENT 17.0 5.5 NATIONAL MEDICAL

ENTERPRISES 24.7 -25.4 11 3/8

GOLD MINING 16.5 49.0 ECHO BAY MINES 26.8 103.9 13

PERSONAL LOANS 14.2 36.0 HOUSEHOLD

INTERNATIONAL 14.9 42.9 75

BROKERAGE FIRMS 12.4 50.0 MERRILL LYNCH 15.7 66.7 84 5/8

% change Weakest % change

FOUR-WEEK LAGGARDS 4-week 52-week stock in group 4-week 52-week Price

SHOES -17.5 -8.5 GENESCO -23.5 51.2 7 3/4

COMMUNICATIONS

EQUIPMENT -16.8 0.7 NORTHERN TELECOM -27.9 -30.5 26 1/2

SPECIALTY APPAREL

RETAILERS -12.7 1.5 LIMITED -15.0 2.5 20 1/2

ENTERTAINMENT -10.0 11.5 WALT DISNEY -13.8 8.3 37 3/8

POLLUTION CONTROL -9.8 -5.5 WMX TECHNOLOGIES -12.3 -9.4 31 1/4

MORNINGSTAR INC.

MUTUAL FUNDS

LEADERS LAGGARDS

Four-week total return % Four-week total return %

EXCEL MIDAS GOLD SHARES 24.6 DFA JAPANESE SMALL COMPANY -10.5

UNITED SERVICES WORLD GOLD 23.2 CAPSTONE NIKKO JAPAN -7.2

LEXINGTON STRATEGIC INVESTMENTS 21.6 FIDELITY JAPAN -6.7

52-week total return % 52-week total return %

LEXINGTON STRATEGIC INVESTMENTS 103.4 DFA CONTINENTAL SMALL COMPANY -14.8

PBHG GROWTH 79.1 INVESCO STRATEGIC HEALTH

SCIENCES -14.0

EXCEL MIDAS GOLD SHARES 69.9 UNITED SERVICES EUROPEAN INCOME-12.5

RELATIVE PORTFOLIOS

Foreign stocks Treasury bonds Gold U.S. stocks Money market fund

$12,672 $12,169 $11,173 $10,956 $10,233

+1.15% +0.82% +0.20% +1.51% +0.05%

Dollar amounts

represent the present value of $10,000

invested one year ago in each portfolio

Percentages indicate

five-day total returns

All data on this page are as of market close Wednesday, July 14, 1993, unless

otherwise indicated. Industry groups include S&P 500 companies only;

performance and share prices are as of market close July 13. Mutual fund

returns are as of July 9. Relative portfolios are valued as of July 13. A more

detailed explanation of this page is available on request.


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