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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYStrong earnings reports and falling bond yields sent the Dow Jones industrialaverage rocketing 173 points, or 2.6%, on Apr. 22. That was the index's biggestone-day gain since 1991. Rumors that a budget deal had been reached inWashington sent the yield on the 30-year Treasury bond from 7.09% to 7.04%. TheWhite House denied the rumors. The NASDAQ Composite Index sat out the rally,rising just 0.73% that day. On Apr. 23, interest rate jitters offset a rally incomputer stocks, and the major indexes edged down.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 6812.7 2.0 21.9

NASDAQ Combined Composite 1227.1 1.4 5.2

S&P MidCap 400 251.2 -0.1 7.2

S&P SmallCap 600 136.6 -0.5 2.9

S&P SuperComposite 1500 165.2 1.1 16.8

% change

SECTORS Latest Week Year

Bloomberg Information Age 232.8 2.5 12.3

S&P Financials 85.4 0.3 30.4

S&P Utilities 183.0 -0.6 -4.7

PSE Technology 241.6 0.8 11.6

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4387.7 2.2 14.5

Frankfurt (DAX) 3396.0 1.3 33.2

Tokyo (NIKKEI 225) 18,735.5 3.9 -15.3

Hong Kong (Hang Seng) 12,707.0 1.0 16.7

Toronto (TSE 300) 5874.1 1.3 14.8

Mexico City (IPC) 3827.0 -0.2 18.9

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.90% 1.95% 2.17%

S&P 500 P/E Ratio (Last 12 mos.) 19.9 19.6 19.1

S&P 500 P/E Ratio (Next 12 mos.)* 16.2 15.7 NA

First Call Earnings Surprise* 3.64% 3.28% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 726.8 724.4 Positive

Stocks above 200-day average 54.0% 51.0% Neutral

Options: Put/call ratio 0.69 0.72 Neutral

Insiders: Vickers Sell/buy ratio 1.96 1.91 Positive

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.06 5.04 4.84

90-DAY TREASURY BILLS 5.33 5.29 5.10

6-MONTH BANK CDS 5.22 5.18 4.86

1-YEAR TREASURY BILLS 5.95 5.99 5.48

10-YEAR TREASURY NOTES 6.87 6.90 6.52

30-YEAR TREASURY BONDS 7.08 7.11 6.78

LONG-TERM AA INDUSTRIALS 7.61 7.59 7.34

LONG-TERM BBB INDUSTRIALS 7.94 7.96 7.78

LONG-TERM AA TELEPHONES 7.84 7.82 7.61

BEST-PERFORMING Last Last 12

GROUPS month% months%

Airlines 13.2 Semiconductors 57.8

Trucking 10.1 Savings & Loans 47.5

Computer Software 9.3 Household Products 45.8

Tobacco 8.6 Computer Software 40.7

Semiconductors 7.9 Invest. Banking/Brkrge. 40.7

WORST-PERFORMING Last Last 12

GROUPS month% months%

Shoes -17.5 Gold Mining -33.3

Gold Mining -14.3 Machine Tools -27.1

Personal Loans -13.3 Broadcasting -24.5

Broadcasting -12.7 Engineering & Constr. -16.8

Defense Electronics -11.2 Defense Electronics -15.3

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

U.S. Bancorp 54 3/8 -3 1/2

Texaco 105 5/8 - 1/4

BankAmerica 108 5/8 -5

Micron Technology 35 -4 1/2

3M 87 1/2 -1 1/8

Citicorp 105 1/2 -11 1/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 140 7/8 10 1/4

Cisco Systems 47 1/2 3/8

Microsoft 110 5/8 20 1/2

Philip Morris 42 1/8 3 35/64

Johnson & Johnson 59 1 1/8

Pfizer 91 3/4 1 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 5.07% 5.09% 5.63% 5.65%

PERCENT OF TREASURIES 73.77 73.99 79.42 79.60

TAXABLE EQUIVALENT 7.35 7.38 8.16 8.19

INSURED REVENUE BONDS 5.26 5.27 5.88 5.92

PERCENT OF TREASURIES 76.58 76.61 83.01 83.40

TAXABLE EQUIVALENT 7.62 7.64 8.52 8.58

EQUITY FUNDS

Leaders Laggards

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

Matthews Korea 8.8 Amerindo Technology D -26.3

GAM Japan Capital A 4.7 Midas -17.1

Fidelity Select Transport 3.8 Van Wagoner Post-Venture -16.9

United Svcs. China Reg. Op. 3.7 Bull & Bear Gold Investors -16.4

GT Global Japan Growth A 3.7 IDS Precious Metals B -16.3

Leaders Laggards

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

Morgan Stan. Inst. Lat. Am. A 45.9 DFA Japanese Small Co. -43.7

Vontobel Eastern Europ. Eq. 45.5 Steadman Technology Grth. -42.9

Morgan Stanley Latin Amer. A 44.7 United Svcs. Gold Shares -42.5

Delaware Pooled Real Estate 40.7 Fidelity Japan Small Co. -38.8

CGM Realty 39.1 Matthews Korea -37.0

EQUITY FUND CATEGORIES

Leaders Laggards

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

Japan 1.7 Precious Metals -10.1

Foreign 0.1 Real Estate -5.9

Europe -0.1 Small-cap Growth -5.7

Latin America -0.1 Mid-cap Growth -5.3

Diversified Pacific/Asia -0.4 Health -4.8

Leaders Laggards

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

Real Estate 29.1 Precious Metals -23.5

Financial 27.9 Japan -20.5

Latin America 27.9 Small-cap Growth -11.3

Large-cap Blend 16.9 Diversified Pacific/Asia -6.8

Europe 16.3 Communications -4.2

All data are as of market close Wednesday, Apr. 23, 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 Apr. 22. 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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