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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYFear that the Fed will hike interest rates on May 20 made for a volatile stockmarket. Still, signs of a slowing economy spurred the Dow Jones industrialaverage and the Standard & Poor's 500-stock index to all-time highs on May 12.Both indexes are up about 13% for the year. Lower-than-expected retail salesand a drop in the producer price index were catalysts for the advance. Risingbond prices sent the yield on the 30-year Treasury down from 6.96% to 6.88% forthe week.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7286.2 2.8 29.5

NASDAQ Combined Composite 1335.6 1.0 8.3

S&P MidCap 400 269.8 1.4 12.1

S&P SmallCap 600 148.2 1.5 7.3

S&P SuperComposite 1500 178.4 2.4 23.3

SECTORS Latest Week Year

Bloomberg Information Age 253.3 1.4 18.3

S&P Financials 94.9 3.5 42.9

S&P Utilities 193.9 0.6 -0.9

PSE Technology 269.1 0.7 18.0

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4686.9 3.3 24.1

Frankfurt (DAX) 3573.7 0.6 41.3

Tokyo (NIKKEI 225) 20,209.7 0.8 -8.4

Hong Kong (Hang Seng) 14,153.6 4.0 30.3

Toronto (TSE 300) 6248.2 2.2 19.9

Mexico City (IPC) 3894.2 3.2 19.8

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.78% 1.79% 2.13%

S&P 500 P/E Ratio (Last 12 mos.) 21.0 20.9 19.4

S&P 500 P/E Ratio (Next 12 mos.)* 17.2 17.1 NA

First Call Earnings Surprise* 3.48% 3.52% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 739.4 734.5 Positive

Stocks above 200-day average 66.0% 65.0% Neutral

Options: Put/call ratio 0.55 0.56 Negative

Insiders: Vickers Sell/buy ratio 1.63 1.72 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Machine Tools 33.8 Savings & Loans 63.0

Instrumentation 21.9 Semiconductors 60.9

Computer Systems 18.9 Invest. Banking/Brkrge. 54.0

Soft Drinks 18.7 Diversified Health-Care 49.4

Diversified Health-Care 18.2 Household Products 47.9

WORST-PERFORMING Last Last 12

GROUPS month% months%

Shoes -0.8 Gold Mining -30.4

Engineering & Constr. -0.8 Engineering & Constr. -19.6

Gold Mining 3.0 Broadcasting -11.7

Apparel Manufacturing 3.1 Defense Electronics -9.7

HMOs 3.2 Metals -7.1

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Micron Technology 34 5/8 -4

OnTrak Systems 26 7/8 -7/16

Adaptec 35 11/16 -1 9/16

Ensco International 46 1/8 -1 1/4

Gucci Group 69 1/2 -2 1/8

Westinghouse Electric 16 1/2 -1 1/2

Decline ahead? Stocks with most 1-month

significant buying on price weakness Price change

Intel 152 3/8 18 5/8

Cisco Systems 62 3/8 9 1/8

3Com 36 7/8 5 3/8

Sun Microsystems 30 13/16 15/16

Philip Morris 42 3/8 3 7/8

WorldCom 26 3 3/8

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.11 5.10 4.84

90-DAY TREASURY BILLS 5.16 5.22 5.14

6-MONTH BANK CDS 5.23 5.23 4.89

1-YEAR TREASURY BILLS 5.81 5.95 5.58

10-YEAR TREASURY NOTES 6.66 6.76 6.66

30-YEAR TREASURY BONDS 6.88 6.96 6.85

LONG-TERM AA INDUSTRIALS 7.40 7.48 7.42

LONG-TERM BBB INDUSTRIALS 7.85 7.93 7.84

LONG-TERM AA TELEPHONES 7.64 7.72 7.66

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 4.96% 5.02% 5.50% 5.56%

PERCENT OF TREASURIES 74.45 74.40 79.99 79.90

TAXABLE EQUIVALENT 7.19 7.28 7.97 8.06

INSURED REVENUE BONDS 5.10 5.18 5.70 5.79

PERCENT OF TREASURIES 76.56 76.77 82.90 83.20

TAXABLE EQUIVALENT 7.39 7.51 8.26 8.39

EQUITY FUNDS

Leaders Laggards

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

DFA Japanese Small Co. 24.7 Rydex Ursa -9.4

Amerindo Technology D 23.8 Prudent Bear -7.9

Interactive Inv. Tech Val 18.9 Comstock Part. Cap Val. B -5.1

Fidelity Japan Small Co. 18.4 Apex Mid Cap Growth -2.8

Dean Witter Japan 17.3 Robertson Steph Devel Ctry A -1.9

Leaders Laggards

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

Legg Mason Value Primary 47.0 United Svcs Gold Shares -43.5

Morgan Stan Inst Lat Am A 45.9 Steadman Technology Grth -40.2

Morgan Stanley Latin Amer A 44.7 Matthews Korea -38.5

Davis Financial A 42.4 DFA Japanese Small Co. -36.8

Fidelity Sel. Home Finance 42.4 Perkins Opportunity -36.6

EQUITY FUND CATEGORIES

Leaders Laggards

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

Japan 14.8 Real Estate 1.1

Technology 10.3 Diversified Emerging Mkts 3.1

Large-cap Growth 9.5 Precious Metals 3.8

Large-cap Blend 8.9 Pacific/Asia ex-Japan 4.5

Large-cap Value 8.3 Utilities 4.6

Leaders Laggards

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

Financial 35.8 Precious Metals -24.8

Latin America 29.2 Japan -11.5

Real Estate 28.3 Small-cap Growth -9.4

Europe 22.7 Diversified Pacific/Asia -1.8

Large-cap Blend 22.6 Communications 0.3

All data are as of market close Wednesday, May 14, 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 May 13. 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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