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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYA generally upbeat week in the financial markets, in which U.S. stocks rose toall-time highs. The Standard & Poor's 500-stock index, NASDAQ Composite indexand Dow Jones industrial average all climbed to record levels on May 27. TheDow climbed 38 points to 7383. The rally was sparked by computer stocks,notably IBM. AT&T also rallied on word that the company was involved in mergertalks. But bonds were not so vibrant. Thirty-year bond yields climbed above 7%on May 28, causing a sell-off in stocks.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7357.2 0.9 28.9

NASDAQ Combined Composite 1410.2 2.7 14.1

S&P MidCap 400 277.3 1.8 15.4

S&P SmallCap 600 153.8 2.3 10.2

S&P SuperComposite 1500 181.2 1.1 24.2

% change

SECTORS Latest Week Year

Bloomberg Information Age 267.6 3.4 26.8

S&P Financials 93.4 0.0 39.1

S&P Utilities 191.7 0.1 -1.7

PSE Technology 286.6 3.9 28.7

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4677.5 0.8 24.4

Frankfurt (DAX) 3636.4 1.1 42.1

Tokyo (NIKKEI 225) 20,351.3 2.6 -7.3

Hong Kong (Hang Seng) 14,556.5 2.3 31.1

Toronto (TSE 300) 6389.0 1.3 22.4

Mexico City (IPC) 3906.3 -1.7 17.8

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.75% 1.77% 2.09%

S&P 500 P/E Ratio (Last 12 mos.) 21.4 21.3 19.7

S&P 500 P/E Ratio (Next 12 mos.)* 17.6 17.5 NA

First Call Earnings Revision* -0.73% -1.03% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 747.7 744.1 Positive

Stocks above 200-day average 70.0% 66.0% Neutral

Options: Put/call ratio 0.47 0.57 Negative

Insiders: Vickers Sell/buy ratio 1.33 1.43 Positive

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.14 5.12 4.85

90-DAY TREASURY BILLS 5.12 5.11 5.17

6-MONTH BANK CDS 5.23 5.23 4.91

1-YEAR TREASURY BILLS 5.86 5.76 5.63

10-YEAR TREASURY NOTES 6.79 6.72 6.67

30-YEAR TREASURY BONDS 7.03 6.96 6.85

LONG-TERM AA INDUSTRIALS 7.56 7.49 7.41

LONG-TERM BBB INDUSTRIALS 7.93 7.90 7.80

LONG-TERM AA TELEPHONES 7.78 7.71 7.66

BEST-PERFORMING Last Last 12

GROUPS month% months%

Communications Equip. 31.8 Semiconductors 78.7

Oil & Gas Drilling 22.9 Savings & Loans 58.6

Computer Systems 19.2 Computer Software 54.9

Broadcasting 18.8 Invest. Banking/Brkrge. 52.4

Shoes 17.8 Household Products 50.5

WORST-PERFORMING Last Last 12

GROUPS month% months%

Restaurants -0.64 Gold -27.39

Engineering & Constr. -0.37 Engineering & Constr. -18.31

Transportation Svcs. 1.0 Defense Electronics -8.14

Food Wholesalers 2.7 Broadcasting -6.23

Food Chains 3.0 Specialty Printing -6.14

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Giddings & Lewis 19 5/16 -1 3/64

Wells Fargo 258 1/4 -1

McDonalds 51 1/2 - 1/4

Union Carbide 47 3/8 - 5/8

CVS 47 5/8 -1

PacifiCare Health Systems A 72 3/8 - 1/4

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 126 5/8 11 3/4

Cisco Systems 68 3/4 22 1/4

3Com 46 3/4 18 1/2

Dell Computer 113 1/4 34 5/16

Intel 169 5/16 22 15/16

WorldCom 26 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 4.93% 4.91% 5.52% 5.50%

PERCENT OF TREASURIES 72.63 73.04 78.57 79.05

TAXABLE EQUIVALENT 7.14 7.12 8.00 7.97

INSURED REVENUE BONDS 5.06 5.05 5.71 5.70

PERCENT OF TREASURIES 74.54 75.12 81.27 81.92

TAXABLE EQUIVALENT 7.33 7.32 8.28 8.26

EQUITY FUNDS

Leaders Laggards

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

Amerindo Technology D 31.4 Prudent Bear -8.2

Van Wagoner Post-Venture 25.6 Rydex Ursa -6.0

Interactive Inv. Tech Value 25.0 Comstock Part. Cap Val. A -4.6

VanWagonerEmergingGrowth 24.0 Calvert New Africa A -2.8

Pin Oak Aggressive Stock 23.6 American Heritage -2.4

Leaders Laggards

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

Morgan Stan. Inst. Lat. Am. A 46.1 United Svcs. Gold Shares -45.6

Rydex OTC 45.9 Steadman Technology Grth. -42.2

Morgan Stanley Latin Amer. A 44.9 Perkins Opportunity -41.0

Legg Mason Value Primary 44.6 Bull & Bear Gold Investors -36.5

Fidelity Sel. Electronics 44.3 Dreyfus Aggressive Growth -34.7

EQUITY FUND CATEGORIES

Leaders Laggards

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

Technology 16.1 Real Estate 3.0

Small-cap Growth 14.4 Diversified Emerging Mkts. 3.4

Japan 11.0 Utilities 3.9

Mid-cap Growth 11.0 International Hybrid 4.0

Small-cap Blend 10.4 Precious Metals 4.4

Leaders Laggards

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

Financial 33.8 Precious Metals -25.9

Real Estate 28.8 Japan -9.1

Latin America 28.7 Small-cap Growth -7.9

Europe 22.8 Diversified Pacific/Asia 0.4

Large-cap Blend 22.5 Communications 2.2

All data are as of market close Wednesday, May 28, 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 27. 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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