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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYThe stock market just won't stop. The Dow industrials closed at 6430 on Nov.20, the 12th new high in 14 trading days. Scary, perhaps, but there's a goodreason for it: falling interest rates. High as stocks are, they are not out ofline relative to interest rates. The rally's big winners are large-cap stocks,with the over-the-counter and smaller company stocks left behind. That's whyU.S. diversified equity funds have gained just 3% over the last four weeks, vs.5.2% for the S&P. Funds typically buy small and midsize companies, not bluechips.STOCKS:

% change

U.S. MARKETS Latest Week 52-week

Dow Jones Industrials 6430.0 2.5 29.0

NASDAQ Combined Composite 1264.9 0.3 22.9

S&P MidCap 400 253.6 1.0 19.0

S&P SmallCap 600 141.0 0.9 20.9

S&P SuperComposite 1500 160.1 1.7 23.9

Bloomberg Information Age 228.3 2.9 18.9

S&P Financials 82.3 3.4 37.4

S&P Utilities 202.3 0.3 7.0

PSE Technology 239.3 3.2 NA

% change

SECTORS Latest Week 52-week

London (FT-SE 100) 3962.8 0.9 9.2

Frankfurt (DAX) 2774.5 0.0 25.1

Tokyo (NIKKEI 225) 21,190.0 1.0 15.3

Hong Kong (Hang Seng) 13,167.2 1.7 40.5

Toronto (TSE 300) 5966.1 2.9 29.7

Mexico City (IPC) 3358.2 -1.3 42.9

% change

FOREIGN MARKETS Latest Week 52-week

S&P 500 Dividend Yield 1.95 % 1.98 % 2.48 %

S&P 500 P/E Ratio (Last 12 mos.) 20.5 20.2 17.0

S&P 500 P/E Ratio (Next 12 mos.) 16.2 16.0 NA

First Call Earnings Surprise 2.22 % 2.50 % NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 666.8 664.4 Positive

Stocks above 200-day average 64.0 % 64.0 % Neutral

Options: Put/call ratio 0.56 0.53 Negative

Insiders: Vickers Sell/buy ratio 1.78 1.79 Neutral

Data: Bloomberg Financial Markets; First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 4.94 4.94 NA

90-DAY TREASURY BILLS 5.17 5.17 5.50

6-MONTH BANK CDS 5.26 5.28 5.48

1-YEAR TREASURY NOTES 5.40 5.42 5.41

10-YEAR TREASURY BONDS 6.14 6.20 5.93

30-YEAR TREASURY BONDS 6.41 6.46 6.25

LONG-TERM AA INDUSTRIALS 6.94 6.98 6.89

LONG-TERM BBB INDUSTRIALS 7.37 7.41 7.30

LONG-TERM AA TELEPHONES 7.11 7.17 7.15

Data: Bloomberg Financial Markets

BEST-PERFORMING Last Last 12

GROUPS month % months %

Airlines 16.8 Oil & Gas Drilling 162.7

Drug Chains 13.2 Manufactured Housing 64.8

Personal Loans 12.8 Shoes 60.0

Computer Systems 11.8 Personal Loans 54.6

Gold Mining 11.3 Oil-Well Equip. & Svces. 54.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Shoes -8.9 Trucking -30.6

Genl. Merchandise Chains -8.1 Broadcasting -17.3

Specialty Appar. Retailers -4.4 Machine Tools -16.3

Department Stores -4.3 Long-Dist. Telecomm. -10.6

Health-Care Services -4.3 Homebuilding -5.1

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Fila Holding-ADR 74 1/2 -14

DuPont 93 3/8 -3 1/2

Wal-Mart Stores 24 1/2 -3

Ameritech 55 5/8 - 3/4

Telefonos de Mexico-ADR 30 5/8 - 5/8

APAC Teleservices 44 5/16 -7 5/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 155 7/8 21 7/8

Cisco Systems 65 4 5/16

Oracle 46 1/8 3

Atmel 30 3/8 2 5/8

Staples 20 3/4 1/4

Tellabs 42 1/8 3 1/8

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

Latest Last Latest Last

week week week week

GENERAL OBLIGATIONS 4.78% 4.81% 5.42% 5.45%

PERCENT OF TREASURIES 78.00 77.73 84.63 84.52

TAXABLE EQUIVALENT 6.93 6.97 7.86 7.90

INSURED REVENUE BONDS 4.93 5.02 5.65 5.72

PERCENT OF TREASURIES 80.42 81.15 88.22 88.71

TAXABLE EQUIVALENT 7.14 7.28 8.19 8.29

EQUITY FUNDS

Leaders Laggards

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

Fidelity Sel. Air Trans. 12.2 Premier Strat. Growth A -15.3

Fidelity Sel. Computers 11.3 Dreyfus Aggressive Growth -12.7

Fidelity Sel. Electronics 9.7 Matthews Korea -9.6

Rydex OTC 9.7 Dreyfus Special Grth. Inv. -8.6

Steadman American Ind. 9.6 Dean Witter Health Sci. -8.1

Leaders Laggards

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

State St. Res. Glob. Res. A 81.9 Steadman Technology Grth. -27.9

Fidelity Sel. Energy Service 66.1 Matthews Korea -26.4

Landmark Small Cap Eq. A 59.8 United Svcs. Gold Shares -18.3

Dreyfus Aggressive Value 59.4 Bhirud Mid Cap Growth -17.4

Interactive Inv. Tech. Val. 57.3 Premier Strat. Growth A -15.6

EQUITY FUND OBJECTIVES

Leaders Laggards

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

Specialty-Financial 6.2 Specialty-Health -0.6

Specialty-Technology 5.0 Diversified Emerging Market 0.2

Specialty-Real Estate 4.8 Maximum Growth 0.4

Growth and Income 4.5 Small Company 0.5

Specialty-Utilities 4.1 Specialty-Precious Metals 0.6

Leaders Laggards

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

Specialty-Natural Resources 37.2 Specialty-Communication 10.2

Specialty-Financial 30.3 Pacific 14.0

Specialty-Real Estate 29.8 Specialty-Utilities 14.0

Growth and Income 23.6 Specialty-Technology 14.1

Europe 22.0 Asset Allocation 15.0

All data are as of market close Wednesday, Nov. 20, 1996, unless otherwise

indicated. Industry groups include S&P 500 companies only. Fundamentals,

technical indicators, Bloomberg money flow analysis, and mutual fund returns

are as of Nov. 19. For a more detailed explanation, write to us or E-mail

figures@businessweek.com. NA=Not available *Vanguard Index 500 fund

Data: Morningstar, Inc.

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