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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYStocks bounced like ping-pong balls in the wake of Fed Chairman Greenspan'sremarks questioning whether the market was overvalued. But while both the Dowand the S&P 500 index retreated for the week, the NASDAQ composite rose. Thereason: a strong performance by the high techs, especially Intel and Microsoft.On a split basis, Microsoft was up 6 3/4 for the week, and Intel zoomed 7 1/2on Dec. 11 when Merrill Lynch raised its 1997 per share earnings estimate from$7 to $9 and its target price from $160 to $200.

% change

U.S. MARKETS Latest Week 52-week

Dow Jones Industrials 6403.4 -0.3 23.5

NASDAQ Combined Composite 1309.1 0.9 23.3

S&P MidCap 400 253.3 -1.0 16.4

S&P SmallCap 600 144.0 -0.6 19.7

S&P SuperComposite 1500 159.6 -0.6 19.3

% change

SECTORS Latest Week 52-week

Bloomberg Information Age 234.2 -0.6 18.3

S&P Financials 81.2 -1.0 30.0

S&P Utilities 196.6 -1.7 0.7

PSE Technology 252.7 0.2 21.1

% change

FOREIGN MARKETS Latest Week 52-week

London (FT-SE 100) 3982.5 -1.5 9.0

Frankfurt (DAX) 2841.1 -0.9 25.0

Tokyo (NIKKEI 225) 20,568.4 -0.4 7.0

Hong Kong (Hang Seng) 13,189.6 -1.8 34.1

Toronto (TSE 300) 5781.7 -2.2 22.0

Mexico City (IPC) 3241.8 -4.4 24.3

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.95% 1.94% 2.21%

S&P 500 P/E Ratio (Last 12 mos.) 20.8 20.8 17.6

S&P 500 P/E Ratio (Next 12 mos.)* 16.1 16.2 NA

First Call Earnings Revision* -0.52% -0.95% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 673.5 671.2 Positive

Stocks above 200-day average 68.0% 68.0% Neutral

Options: Put/call ratio 0.53 0.54 Negative

Insiders: Vickers Sell/buy ratio 1.91 1.85 Positive

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 4.95 4.95 NA

90-DAY TREASURY BILLS 4.96 5.03 5.45

6-MONTH BANK CDS 5.22 5.20 5.43

1-YEAR TREASURY NOTES 5.49 5.41 5.35

10-YEAR TREASURY BONDS 6.38 6.11 5.71

30-YEAR TREASURY BONDS 6.61 6.40 6.04

LONG-TERM AA INDUSTRIALS 7.17 6.94 6.67

LONG-TERM BBB INDUSTRIALS 7.64 7.36 7.05

LONG-TERM AA TELEPHONES 7.32 7.09 6.96

BEST-PERFORMING Last Last 12

GROUPS month% months%

Tobacco 17.2 Oil & Gas Drilling 106.9

Computer Systems 13.5 Shoes 76.4

Instrumentation 13.2 Computer Software 47.5

Machine Tools 12.4 Money Center Banks 41.1

Broadcasting 11.5 Personal Loans 37.8

WORST-PERFORMING Last Last 12

GROUPS month% months%

Manufactured Housing -17.6 Trucking -29.3

Genl. Merchandise Chains -6.2 Broadcasting -17.8

Specialty Retailers -5.8 Machine Tools -13.5

Soft Drinks -5.5 Steel -8.9

Hardware & Tools -4.9 Long-Dist. Telecomm. -8.8

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most

significant buying on 1-month

price weakness Price change

Ascend Communications 71 3/4 -1 5/8

General Electric 98 1/8 -3 7/8

Apple Computer 24 1/2 -1 1/2

Bell Atlantic 60 3/8 - 3/4

BellSouth 38 3/4 -1 7/8

Decline ahead? Stocks with most

significant selling on price 1-month

strength Price change

Coca-Cola 49 5/8 -2 3/8

Microsoft 81 7/8 10 1/16

Dell Computer 59 5/8 14 7/16

Cisco Systems 67 3/8 7/8

Informix 24 3/8 3 3/4

Intel 129 1/8 5 1/4

Oracle 49 3/8 3 3/4

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 4.81% 4.67% 5.45% 5.31%

PERCENT OF TREASURIES 75.45 76.58 82.36 83.10

TAXABLE EQUIVALENT 6.97 6.77 7.90 7.70

INSURED REVENUE BONDS 4.95 4.79 5.71 5.55

PERCENT OF TREASURIES 77.67 78.55 86.27 86.85

TAXABLE EQUIVALENT 7.17 6.94 8.28 8.04

CHARTS BY ALBERTO MENA/BW

EQUITY FUNDS

Leaders Laggards

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

United Svcs. China Region 24.5 Pioneer India A -9.5

Merrill Technology A 13.0 Bull & Bear Gold Investors -9.2

Ivy China Region A 10.7 United Svcs. Gold Shares -9.1

Princ. Preserv. PSE Tech 100 10.2 Midas -8.8

Fidelity Sel. Electronics 9.6 Fidelity Japan Small Co. -8.4

Leaders Laggards

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

State St. Res. Glob. Res. A 79.4 Steadman Technology Grth. -32.3

Interactive Inv. Tech Val. 68.5 Matthews Korea -29.5

Portico MicroCap Instl. 60.1 United Svcs. Gold Shares -25.0

PBHG Technology & Commun. 56.4 Pioneer India B -22.3

Fidelity Sel. Energy Serv. 51.3 Apex Mid Cap Growth -20.9

EQUITY FUND OBJECTIVES

Leaders Laggards

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

Specialty-Technology 7.3 Specialty-Precious Metals -4.4

Specialty-Real Estate 4.0 Specialty-Utilities 0.7

Specialty-Financial 3.3 Europe 0.8

Small Company 2.9 Diversified Emerging Market 0.9

Growth and Income 2.8 Foreign 0.9

Leaders Laggards

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

Specialty-Natural Resources 32.8 Specialty-Precious Metals 7.2

Specialty-Real Estate 28.6 Pacific 8.4

Specialty-Financial 27.9 Specialty-Communication 9.4

Europe 22.4 Specialty-Utilities 12.2

Growth and Income 21.9 Diversified Emerging Market 12.5

All data are as of market close Wednesday, Dec. 11, 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 Dec. 10. For a more detailed explanation, write to us or E-mail

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

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