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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYAnother week of record highs for Wall Street. Fed Chairman Alan Greenspan,whose "irrational exuberance" remarks triggered a sell-off in December,pleased investors with his Jan. 21 testimony before Congress. He left themconfident he isn't about to raise interest rates. The rally also drew strengthfrom strong fourth-quarter earnings, especially from leading tech companiessuch as Microsoft and Compaq. But IBM's profit report disappointed the Street,which knocked 10 points off Big Blue's stock on Jan. 22.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 6850.0 1.8 31.2

NASDAQ Combined Composite 1388.1 4.1 34.8

S&P MidCap 400 266.5 1.7 24.4

S&P SmallCap 600 148.1 0.2 25.4

S&P SuperComposite 1500 169.0 2.3 27.7

% change

SECTORS Latest Week Year

Bloomberg Information Age 248.1 3.3 29.4

S&P Financials 87.7 3.6 41.8

S&P Utilities 205.0 1.1 3.0

PSE Technology 265.4 3.6 33.4

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4219.1 1.4 12.4

Frankfurt (DAX) 3028.7 1.3 26.7

Tokyo (NIKKEI 225) 18,013.9 -0.4 -10.8

Hong Kong (Hang Seng) 13,692.8 -0.5 25.0

Toronto (TSE 300) 6058.7 -0.1 24.9

Mexico City (IPC) 3708.0 -0.5 20.1

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.85% 1.88% 2.22%

S&P 500 P/E Ratio (Last 12 mos.) 21.8 21.6 17.3

S&P 500 P/E Ratio (Next 12 mos.)* 16.7 16.5 NA

First Call Earnings Surprise* 2.63% 4.59% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 688.7 685.5 Positive

Stocks above 200-day average 72.0% 72.0% Negative

Options: Put/call ratio 0.48 0.51 Negative

Insiders: Vickers Sell/buy ratio 1.89 1.85 Positive

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 4.96 4.95 5.15

90-DAY TREASURY BILLS 5.16 5.19 5.14

6-MONTH BANK CDS 5.02 5.01 4.86

1-YEAR TREASURY BILLS 5.57 5.60 5.06

10-YEAR TREASURY NOTES 6.55 6.53 5.61

30-YEAR TREASURY BONDS 6.83 6.77 6.04

LONG-TERM AA INDUSTRIALS 7.32 7.26 6.66

LONG-TERM BBB INDUSTRIALS 7.74 7.68 7.04

LONG-TERM AA TELEPHONES 7.52 7.47 7.00

BEST-PERFORMING Last Last 12

GROUPS month% months%

Hardware & Tools 16.9 Oil & Gas Drilling 138.1

Electric Instruments 14.2 Semiconductors 95.8

Cosmetics 14.0 Shoes 88.3

Semiconductors 13.7 Personal Loans 61.1

Trucking 13.6 Money Center Banks 56.7

WORST-PERFORMING Last Last 12

GROUPS month% months%

Gold Mining -6.8 Gold Mining -21.8

HMOs -6.0 Broadcasting -18.5

Specialty Appar. Retailers -5.7 Trucking -14.7

Manufactured Housing -5.1 Steel -10.9

Hospital Management -4.0 Restaurants -6.0

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Texas Instrument 62 1/2 -1 5/8

Caterpillar 76 3/8 - 3/8

Micron Technology 29 7/8 - 3/8

Aetna 74 7/8 -1 1/4

Integrated Device Technology 11 1/4 -1 7/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

United Healthcare 45 1/4 -1 1/8

Intel 148 1/16 15 13/16

Microsoft 95 11 1/4

Sun Microsystems 33 3/8 4 3/4

Cisco Systems 74 7/8 10 1/2

Worldcom 26 1/2 3 1/4

Republic Industries 39 7/8 9

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 4.91% 4.89% 5.51% 5.53%

PERCENT OF TREASURIES 74.98 75.05 80.71 81.46

TAXABLE EQUIVALENT 7.12 7.09 7.99 8.01

INSURED REVENUE BONDS 5.04 5.01 5.76 5.77

PERCENT OF TREASURIES 76.96 76.89 84.37 84.99

TAXABLE EQUIVALENT 7.30 7.26 8.35 8.36

EQUITY FUND

Leaders Laggards

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

Lexington Troika Russia 26.2 Warburg Japan OTC Comm. -8.5

Vontobel Eastern Europ. Eq. 21.3 Fidelity Japan Small Co. -8.2

Pin Oak Aggressive Stock 13.7 Capstone Nikko Japan -8.1

Fidelity Sel. Electronics 13.1 Japan -8.1

American Heritage 13.0 DFA Japanese Small Co. -7.8

Leaders Laggards

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

State St. Res. Glob. Res. A 87.4 United Svcs. Gold Shares -38.7

Interactive Inv. Tech Value 83.7 Fidelity Japan Small Co. -29.7

Portico MicroCap Instl. 78.0 Steadman Technology Grth. -29.2

PBHG Technology & Commun. 73.8 DFA Japanese Small Co. -27.9

Fidelity Sel. Energy Serv. 64.6 Matthews Korea -26.8

EQUITY FUND OBJECTIVES

Leaders Laggards

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

Diversified Emerging Market 9.1 Specialty-Precious Metals -2.4

Specialty-Technology 7.9 Pacific 1.4

Maximum Growth 6.1 Multiasset Global 1.9

Specialty-Communication 5.9 Asset Allocation 2.3

Small Company 4.9 Balanced 2.4

Leaders Laggards

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

Specialty-Natural Resources 36.6 Specialty-Precious Metals -7.4

Specialty-Technology 36.1 Pacific 2.1

Specialty-Real Estate 35.7 Foreign 11.8

Specialty-Financial 34.4 Specialty-Utilities 12.2

Small Company 28.0 Diversified Emerging Market 13.3

All data are as of market close Wednesday, Jan. 22, 1997, 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 Jan. 21. 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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