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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY Stocks retreated from near-record levels as fears that tech stocks will failto meet earnings projections put investors into the sell mode. Intel, CabletronSystems, and Seagate Technology took big hits, and the Pacific High TechnologyIndex, which posted a record on May 28, tumbled 5.6% for the week. The Dowindustrials and the Standard & Poor's 500-stock index fared a lot better, withdeclines of 1.2% and 0.8%, respectively. The rally in bonds helped the bluechips. South of the border, the Mexican Bolsa surged 5.5%, hitting a high forthe year.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7269.7 -1.2 28.3

NASDAQ Combined Composite 1379.7 -2.2 10.9

S&P MidCap 400 279.4 0.8 15.4

S&P SmallCap 600 156.5 1.7 11.6

% change

SECTORS Latest Week Year

S&P SuperComposite 1500 180.2 -0.6 23.3

Bloomberg Information Age 254.4 -4.9 21.4

S&P Financials 95.3 2.0 40.8

S&P Utilities 191.8 0.0 0.9

PSE Technology 270.7 -5.6 21.7

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4557.1 -2.6 21.4

Frankfurt (DAX) 3661.8 0.7 43.8

Tokyo (NIKKEI 225) 20,611.6 1.3 -5.7

Hong Kong (Hang Seng) 14,831.6 1.9 33.8

Toronto (TSE 300) 6428.6 0.6 23.0

Mexico City (IPC) 4121.6 5.5 27.7

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.76 % 1.75 % 2.10 %

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

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

First Call Earnings Revision* -1.44 % -0.73 % NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 752.3 747.7 Positive

Stocks above 200-day average 73.0 % 70.0 % Negative

Options: Put/call ratio 0.53 0.47 Negative

Insiders: Vickers Sell/buy ratio 1.36 1.33 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Oil & Gas Drilling 29.8 Savings & Loans 62.5

Oil-Well Equip. & Svces. 12.7 Oil & Gas Drilling 53.6

Housewares 10.6 Semiconductors 52.9

HMOs 10.0 Invest. Banking/Brkrge. 51.9

Forest Products 9.0 Computer Software 46.0

WORST-PERFORMING Last Last 12

GROUPS month% months%

Semiconductors -8.4 Gold Mining -27.8

Restaurants -8.1 Engineering & Constr. -15.5

Commercial Services -3.2 Defense Electronics -9.7

Engineering & Constr. -3.2 Hotels & Motels -7.5

Building Materials -2.7 Manufactured Housing -7.1

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Applied Materials 61 9/16 -3/16

Texas Instruments 83 7/8 -9 7/8

Cascade Communications 34 5/16 -1 9/16

Novellus Systems 74 7/8 -3 7/8

Cabletron Systems 30 1/4 -6 5/8

VeriFone 51 1/2 -2 3/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 120 3/4 3/4

Dell Computer 108 1/8 15 7/8

3Com 45 15/16 10 1/4

Cisco Systems 64 3/4 5 7/8

Worldcom 28 11/16 2 11/16

Premier Laser Systems-A 12 5 1/8

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.15 5.14 4.85

90-DAY TREASURY BILLS 5.06 5.18 5.20

6-MONTH BANK CDS 5.22 5.23 4.96

1-YEAR TREASURY BILLS 5.75 5.91 5.78

10-YEAR TREASURY NOTES 6.62 6.80 6.86

30-YEAR TREASURY BONDS 6.88 7.03 7.00

LONG-TERM AA INDUSTRIALS 7.39 7.56 7.55

LONG-TERM BBB INDUSTRIALS 7.80 7.93 7.92

LONG-TERM AA TELEPHONES 7.64 7.78 7.81

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 4.87% 4.93% 5.44% 5.52%

PERCENT OF TREASURIES 73.59 72.63 79.09 78.57

TAXABLE EQUIVALENT 7.06 7.14 7.88 8.00

INSURED REVENUE BONDS 4.98 5.06 5.63 5.71

PERCENT OF TREASURIES 75.25 74.54 81.85 81.27

TAXABLE EQUIVALENT 7.22 7.33 8.16 8.28

EQUITY FUNDS

Leaders Laggards

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

Fidelity Sel. Energy Serv. 16.8 Steadman American Industry -7.5

Van Wagoner Post-Venture 14.2 Steadman Technology Grth. -7.2

Keystone Am. Hart. Emer. Gr. A 13.9 Steadman Associated -6.3

Invesco Worldwide Cap 13.0 Fontaine Global Growth -5.5

HSBC Small Cap 11.8 Fidelity Select Computers -3.8

Leaders Laggards

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

Morgan Stan. Inst. Lat. Am. A 53.9 Frontier Equity -52.1

Morgan Stanley Latin Amer. A 52.3 United Svcs. Gold Shares -48.1

Fidelity Sel. Energy Serv. 45.6 Steadman Technology Grth. -46.2

Davis Financial A 45.2 Bull & Bear Gold Investors -40.3

Legg Mason Value Primary 44.9 Perkins Opportunity -38.7

EQUITY FUND CATEGORIES

Leaders Laggards

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

Japan 7.7 Precious Metals 0.9

Small-cap Growth 7.3 Real Estate 1.0

Natural Resources 6.9 Utilities 1.7

Small-cap Blend 6.5 Europe 1.8

Diversified Pacific/Asia 5.8 International Hybrid 2.1

Leaders Laggards

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

Financial 37.5 Precious Metals -29.7

Latin America 33.5 Japan -6.4

Real Estate 29.2 Small-cap Growth -5.3

Large-cap Value 23.7 Diversified Pacific/Asia 3.4

Large-cap Blend 23.7 Mid-cap Growth 3.8

All data are as of market close Wednesday, June 4, 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 June 3. 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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