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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYA wild week with little movement for big stocks. Good inflation news helped theDow and the S&P 500 hit new highs on May 15, yet the market fell sharply justthe next day. Stocks rallied after the Fed decided not to raise interest rates,but soldoff May 21 as traders bet the rate hike would come in July. Although the bluechips stalled, the NASDAQ Combined Composite shot up 2.9% for the week, the S&PMidCap 400, 0.9%, and the S&P SmallCap 600, 1.4%. The PSE Technology indexgained 2.5% andreached a new high on May 21.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7290.7 0.1 27.1

NASDAQ Combined Composite 1373.8 2.9 10.4

S&P MidCap 400 272.4 0.9 12.5

S&P SmallCap 600 150.3 1.4 7.2

S&P SuperComposite 1500 179.3 0.5 22.7

% change

SECTORS Latest Week Year

Bloomberg Information Age 258.9 2.2 21.7

S&P Financials 93.3 -1.7 38.8

S&P Utilities 191.5 -1.2 -1.6

PSE Technology 275.8 2.5 21.5

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4642.0 -1.0 22.5

Frankfurt (DAX) 3596.1 0.6 39.9

Tokyo (NIKKEI 225) 19,842.0 -1.8 -10.2

Hong Kong (Hang Seng) 14,235.5 0.6 28.4

Toronto (TSE 300) 6307.1 0.9 20.4

Mexico City (IPC) 3974.4 2.1 18.9

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.77% 1.78% 2.09%

S&P 500 P/E Ratio (Last 12 mos.) 21.3 21.0 19.7

S&P 500 P/E Ratio (Next 12 mos.)* 17.5 17.2 NA

First Call Earnings Revison* -1.03% -0.47% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 744.1 739.4 Positive

Stocks above 200-day average 66.0% 66.0% Neutral

Options: Put/call ratio 0.57 0.55 Negative

Insiders: Vickers Sell/buy ratio 1.43 1.63 Positive

BEST-PERFORMING Last

GROUPS month%

Machine Tools 34.4

Communications Equip. 28.0

Computer Systems 23.0

Toys 18.9

Health-Care Services 18.6

Last 12

months%

Semiconductors 73.7

Savings & Loans 59.4

Invest. Banking/Brkrge. 51.0

Household Products 49.6

Computer Software 47.4

WORST-PERFORMING Last

GROUPS month%

Engineering & Constr. -0.6

Pollution Control 1.0

Transportation Svcs. 1.1

Restaurants 1.2

Defense Electronics 2.0

Last 12

months%

Gold Mining -29.8

Engineering & Constr. -20.7

Defense Electronics -11.9

Broadcasting -11.0

Specialty Printing -6.0

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

MCI Communications 38 1/8 -1/8

Electronic Data Systems 36 3/4 -2 3/8

GTE 42 5/8 -3/4

Ensco International 48 1/4 -1 1/4

Westinghouse Electric 17 1/8 -1

Repsol (ADR) 42 7/8 -1

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Cisco Systems 64 3/8 17 1/16

3Com 39 12 5/8

Microsoft 119 1/8 11 1/2

Intel 161 22 5/8

Dell Computer 99 5/8 24 3/4

WorldCom 26 1/4 4 3/8

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.12 5.11 4.85

90-DAY TREASURY BILLS 5.11 5.19 5.18

6-MONTH BANK CDS 5.23 5.23 4.90

1-YEAR TREASURY BILLS 5.76 5.86 5.57

10-YEAR TREASURY NOTES 6.72 6.68 6.65

30-YEAR TREASURY BONDS 6.96 6.90 6.85

LONG-TERM AA INDUSTRIALS 7.49 7.40 7.44

LONG-TERM BBB INDUSTRIALS 7.90 7.85 7.81

LONG-TERM AA TELEPHONES 7.71 7.64 7.65

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% 4.96% 5.50% 5.50%

PERCENT OF TREASURIES 73.04 74.45 79.05 79.99

TAXABLE EQUIVALENT 7.12 7.19 7.97 7.97

INSURED REVENUE BONDS 5.05 5.10 5.70 5.70

PERCENT OF TREASURIES 75.12 76.56 81.92 82.90

TAXABLE EQUIVALENT 7.32 7.39 8.26 8.26

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Amerindo Technology D 36.7 Prudent Bear -8.6

Pin Oak Aggressive Stock 24.6 Rydex Ursa -7.6

Interactive Inv. Tech Value 23.5 Comstock Part. Cap Val. B -5.6

Van Wagoner Post-Venture 21.6 Merrill Emerging Tigers B -4.6

Robertson Steph. Info. Age A 20.4 Lexington Strat. Invmnts. -3.3

Legg Mason Value Primary 44.0 United Svcs. Gold Shares -44.6

Morgan Stan. Inst. Lat. Am. A 42.6 Steadman Technology Grth. -41.5

Davis Financial A 41.8 Perkins Opportunity -37.9

Morgan Stanley Latin Amer. A 41.4 Dreyfus Aggressive Growth -37.4

Vontobel Eastern Europ. Eq. 41.1 Apex Mid Cap Growth -36.4

EQUITY FUND CATEGORIES

Leaders Laggards

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

Technology 15.9 Precious Metals 2.1

Japan 15.7 Diversified Emerging Markets 2.3

Small-cap Growth 11.4 Pacific/Asia ex-Japan 2.7

Mid-cap Growth 10.4 Real Estate 2.8

Large-cap Growth 10.0 International Hybrid 4.6

Financial 35.0 Precious Metals -25.6

Real Estate 28.5 Small-cap Growth -10.7

Latin America 26.5 Japan -8.1

Europe 21.9 Diversified Pacific/Asia -0.2

Large-cap Blend 21.7 Communications 0.2

All data are as of market close Wednesday, May 21, 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 20. 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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