Businessweek Archives

Commentary


Investment Figures of the Week

COMMENTARY

The world's financial markets turned in a generally lackluster week. Global

bourses meandered aimlessly, and most U.S. stock indices showed slight

declines. But there were a few bright spots. The Dow Jones industrial average

closed on July 21 at 3555, an all-time high. And the put-call ratio of

speculative sentiment, an often reliable gauge of short-term sentiment, became

strongly bullish. The bond market turned lower, however, as traders reacted to

downbeat comments by Fed Chairman Alan Greenspan.

MARKET ANALYSIS

% change

U.S. STOCKS Latest Week 52-week

DOW JONES INDUSTRIALS 3555.4 0.4 8.5

MIDSIZE COMPANIES (S&P MidCap Index) 164.9 -1.7 16.3

SMALL COMPANIES (Russell 2000) 234.9 -1.2 24.3

ALL COMPANIES (Russell 3000) 257.4 -0.8 11.4

% change (local currency)

FOREIGN STOCKS Latest Week 52-week

LONDON (FINANCIAL TIMES 100) 2814.1 -0.6 17.8

TOKYO (NIKKEI INDEX) 20,080.9 -0.3 29.2

TORONTO (TSE COMPOSITE) 3867.4 -1.9 13.3

FUNDAMENTALS Latest Week ago Year ago

90-DAY TREASURY BILL YIELD 3.14% 3.06% 3.23%

30-YEAR TREASURY BOND YIELD 6.63% 6.56% 7.63%

S&P 500 DIVIDEND YIELD 2.80% 2.84% 3.04%

S&P 500 PRICE/EARNINGS RATIO 21.2 21.3 23.4

TECHNICAL INDICATORS Latest Week ago Reading

S&P 500 26-week moving average 445.6 445.1 Positive

Stocks above 26-week moving average 56.8% 58.8% Negative

Speculative sentiment: Put/call ratio 0.53 0.42 Positive

Insider sentiment: Vickers sell/buy ratio 2.30 2.32 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

HOSPITAL MANAGEMENT 17.6 5.9 NATIONAL MEDICAL

ENTERPRISES 20.0 -26.2 11 1/4

TRANSPORTATION

SERVICES 13.1 27.1 FEDERAL EXPRESS 19.1 25.7 53 7/8

TRUCKING 12.5 2.3 ROADWAY SERVICES 15.1 6.6 61

PERSONAL LOANS 11.0 34.2 HOUSEHOLD INTER-

NATIONAL 11.5 44.0 75 1/4

HOTELS AND MOTELS 8.5 78.4 PROMUS 23.6 283.9 53 3/4

% change Weakest % change

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

COMMUNICATIONS

EQUIPMENT -21.5 -6.1 NORTHERN TELECOM -33.3 -37.0 24 1/2

APPAREL MANUFACTURING-15.8 -20.1 LIZ CLAIBORNE -29.6 -39.1 22

COMPUTER SYSTEMS -12.1 -42.6 APPLE COMPUTER -32.2 -40.3 26 7/8

ENTERTAINMENT -11.2 4.3 WALT DISNEY -14.1 2.1 36 5/8

POLLUTION CONTROL -10.9 -7.2 WMX TECHNOLOGIES -14.1 -12.2 30 1/2

MORNINGSTAR INC.

MUTUAL FUNDS

LEADERS LAGGARDS

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

LEXINGTON STRATEGIC

INVESTMENTS 22.3 EQUITY STRATEGIES -11.9

EXCEL MIDAS GOLD SHARES 19.6 FIDELITY SELECT ENERGY -5.4

SHERMAN, DEAN 16.7 PUTNAM ENERGY-RESOURCES -4.8

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

LEXINGTON STRATEGIC INVESTMENTS 90.9 DFA CONTINENTAL SMALL COMPANY -16.2

PBHG GROWTH 77.4 FIDELITY SELECT HEALTH CARE -15.7

EXCEL MIDAS GOLD SHARES 62.8 INVESCO STRATEGIC HEALTH

SCIENCES -14.8

RELATIVE PORTFOLIOS

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

$13,268 $12,276 $11,041 $10,959 $10,232

+0.13% +0.87% -0.17% -0.09% +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 21, 1993, unless

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

performance and share prices are as of market close July 20. Mutual fund

returns are as of July 16. Relative portfolios are valued as of July 20. A more

detailed explanation of this page is available on request.


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