Businessweek Archives

Commentary


Investment Figures of the Week

COMMENTARY

The Dow Jones industrials surged to a new high of 3567.7 on July 26, but gave

up the gains and finished the week virtually unchanged--as did the broader S&P

500. Midsize companies, however, fared better than those larger or smaller; the

S&P Midcap Index gained 1.2%. Long-term interest rates backed up, as some bond

traders took profits from the recent rally. Also spooking the bond crowd was

Fed Chairman Alan Greenspan's threats to raise interest rates if inflation

kicks up.

MARKET ANALYSIS

% change

U.S. STOCKS Latest Week 52-week

DOW JONES INDUSTRIALS 3553.5 -0.1 5.2

MIDSIZE COMPANIES (S&P MidCap Index) 166.9 1.2 14.8

SMALL COMPANIES (Russell 2000) 236.0 0.5 22.3

ALL COMPANIES (Russell 3000) 257.8 0.1 8.7

% change (local currency)

FOREIGN STOCKS Latest Week 52-week

LONDON (FINANCIAL TIMES 100) 2884.2 2.5 19.0

TOKYO (NIKKEI INDEX) 19,829.6 -1.3 31.4

TORONTO (TSE COMPOSITE) 3923.1 1.4 14.6

FUNDAMENTALS Latest Week ago Year ago

90-DAY TREASURY BILL YIELD 3.15 % 3.14 % 3.25 %

30-YEAR TREASURY BOND YIELD 6.65 % 6.63 % 7.45 %

S&P 500 DIVIDEND YIELD 2.79 % 2.80 % 3.01 %

S&P 500 PRICE/EARNINGS RATIO 21.3 21.2 24.6

TECHNICAL INDICATORS Latest Week ago Reading

S&P 500 26-week moving average 445.9 445.6 Positive

Stocks above 26-week moving average 55.8 % 56.8 % Negative

Speculative sentiment: Put/call ratio 0.51 0.53 Positive

Insider sentiment: Vickers sell/buy ratio 2.32 2.30 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

TRANSPORTATION

SERVICES 12.1 33.0 PITTSTON SERVICES

GROUP 25.8 30.9 20 1/8

HOSPITAL MANAGEMENT 11.5 3.1 GALEN HEALTH CARE 13.6 74.0 20 7/8

HOTELS AND MOTELS 8.8 82.6 PROMUS 18.2 314.6 56 3/4

HARDWARE AND TOOLS 7.9 13.9 SNAP-ON TOOLS 10.7 39.2 42 5/8

ALUMINUM 7.7 -2.1 REYNOLDS METALS 13.9 -10.3 51 1/4

% change Weakest % change

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

APPAREL MANUFACTURING-15.7 -18.3 LIZ CLAIBORNE -28.5 -33.6 22

COMMUNICATIONS

EQUIPMENT -14.5 -3.8 NORTHERN TELECOM -25.1 -38.7 21 5/8

COMPUTER SYSTEMS -12.4 -39.2 APPLE COMPUTER -34.0 -42.2 26 1/2

STEEL -10.9 25.1 BETHLEHEM STEEL -20.1 12.3 14 7/8

MACHINE TOOLS -9.5 16.2 GIDDINGS & LEWIS -10.3 -14.3 19 1/2

MORNINGSTAR INC.

MUTUAL FUNDS

LEADERS LAGGARDS

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

LEXINGTON STRATEGIC INVESTMENTS 10.0 FIDELITY CANADA -6.4

UNITED SERVICES WORLD GOLD 8.8 EQUITY STRATEGIES -6.2

PROGRESSIVE AGGRESSIVE GROWTH 7.5 PUTNAM ENERGY-RESOURCES -5.9

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

LEXINGTON STRATEGIC INVESTMENTS 86.8 INVESCO STRATEGIC HEALTH

SCIENCES -14.6

PBHG GROWTH 77.9 FIDELITY SELECT HEALTH CARE -13.5

THOMSON OPPORTUNITY A 56.9 INVESCO STRATEGIC

ENVIRONMENTAL SVCS. -13.3

DRI/McGRAW-HILL

RELATIVE PORTFOLIOS

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

$13,288 $11,970 $11,042 $10,937 $10,231

+1.11% -1.50% +0.21% +0.06% +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 28, 1993, unless

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

performance and share prices are as of market close July 27. Mutual fund

returns are as of July 23. Relative portfolios are valued as of July 27. A more

detailed explanation of this page is available on request.


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