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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYExtremely skittish. That's the stock market these days. The Dow industrialsplummeted 192 points on June 23 in the wake of Prime Minister Hashimoto'sremarks that Japan might sell U.S. Treasuries. But when the Japanese backedoff, the Dow rallied mightily the next day, recouping 80% of the loss. Rumorsof some Treasury selling by a foreign central bank the next day sent stockstumbling again. The sell/buy ratio of insiders activity, shown on this page,though still positive, is moving toward negative territory.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7690.0 -0.4 34.5

NASDAQ Combined Composite 1446.2 1.0 23.3

S&P MidCap 400 287.1 -0.8 22.6

S&P SmallCap 600 158.9 -0.2 19.6

S&P SuperComposite 1500 189.8 -0.1 31.3

% change

SECTORS Latest Week Year

Bloomberg Information Age 269.3 0.1 32.2

S&P Financials 102.2 -1.0 53.0

S&P Utilities 195.9 -0.5 1.9

PSE Technology 286.7 0.9 39.0

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4640.0 -0.4 26.1

Frankfurt (DAX) 3798.5 1.8 47.6

Tokyo (NIKKEI 225) 20,679.3 0.9 -8.5

Hong Kong (Hang Seng) 15,065.0 6.1 37.2

Toronto (TSE 300) 6515.1 0.3 28.5

Mexico City (IPC) 4397.8 2.7 39.2

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.66% 1.66% 2.15%

S&P 500 P/E Ratio (Last 12 mos.) 22.8 22.6 19.1

S&P 500 P/E Ratio (Next 12 mos.)*18.5 18.4 NA

First Call Earnings Revision* -1.30% -1.25% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 768.5 762.6 Positive

Stocks above 200-day average 78.0% 78.0% Negative

Options: Put/call ratio 0.49 0.57 Negative

Insiders: Vickers Sell/buy ratio 1.81 1.43 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Personal Loans 17.8 Savings & Loans 80.8

Broadcasting 14.9 Semiconductors 73.7

Invest. Banking/Brkrge. 14.2 Invest. Banking/Brkrge. 72.2

Medical Prods. & Suppls. 13.6 Oil & Gas Drilling 64.9

Drugs 13.2 Instrumentation 56.5

WORST-PERFORMING Last Last 12

GROUPS month% months%

Oil Exploration & Prod. -9.8 Gold Mining -23.6

Photography/Imaging -7.9 Engineering & Constr. -14.3

Airlines -6.7 Photography/Imaging -7.6

Metals -5.3 Manufactured Housing -5.1

Gold Mining -5.2 Defense Electronics -3.0

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Compaq Computer 102 3/4 -4 1/8

Amoco 88 1/4 - 3/8

Micron Technology 40 15/16 -1 11/16

Texas Instruments 88 7/16 -7 1/16

MCI Communications 38 9/16 - 3/16

Nordstrom 47 1/16 - 1/2

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 132 1/16 5 7/16

Dell Computer 123 9 3/4

WorldCom 30 3/4 4 3/4

3Com 49 3/4 3

Philip Morris 44 3/16 3/16

Quantum 21 15/16 2

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.15 5.16 4.90

90-DAY TREASURY BILLS 5.10 5.03 5.24

6-MONTH BANK CDS 5.19 5.21 4.99

1-YEAR TREASURY BILLS 5.63 5.66 5.82

10-YEAR TREASURY NOTES 6.44 6.40 6.91

30-YEAR TREASURY BONDS 6.74 6.69 7.06

LONG-TERM AA INDUSTRIALS 7.23 7.18 7.60

LONG-TERM BBB INDUSTRIALS 7.64 7.61 7.99

LONG-TERM AA TELEPHONES 7.47 7.42 7.85

Data: Bloomberg Financial Markets; *First Call Corp.

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 4.75% 4.71% 5.32% 5.28%

PERCENT OF TREASURIES 73.76 73.74 79.00 79.01

TAXABLE EQUIVALENT 6.88 6.83 7.71 7.65

INSURED REVENUE BONDS 4.88 4.82 5.53 5.47

PERCENT OF TREASURIES 75.78 75.46 82.12 81.86

TAXABLE EQUIVALENT 7.07 6.99 8.01 7.93

EQUITY FUNDS

Leaders Laggards

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

American Heritage 23.5 United Svcs. Gold Shares -13.8

Invesco Worldwide Cap. Gds. 12.5 Frontier Equity -13.5

Morgan Stan. Inst. Lat. Am. A 12.2 Bull & Bear Gold Investors -11.8

Lexington Troika Russia 12.1 Fontaine Global Growth -11.1

Morgan Stan. Latin Amer. A 11.9 Morgan Stan. Inst. Gold A -10.8

Leaders Laggards

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

Morgan Stan. Inst. Lat. Am. A 61.3 Frontier Equity -56.5

Morgan Stan. Latin Amer. A 59.3 United Svcs. Gold Shares -47.1

Legg Mason Value Primary 56.1 Bull & Bear Gold Investors -37.0

Fidelity Select Home Finance 55.5 Morgan Stan. Inst. Gold A -36.7

Fidelity Select Brokerage 55.5 Lexington Strategic Invmts. -34.4

EQUITY FUND CATEGORIES

Leaders Laggards

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

Latin America 9.5 Precious Metals -7.8

Financial 8.6 Natural Resources -0.7

Health 6.6 Technology -0.3

Communications 6.2 Europe 2.6

Diversified Emerging Markets 6.1 International Hybrid 3.1

Leaders Laggards

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

Financial 47.1 Precious Metals -25.9

Latin America 40.2 Japan -6.9

Real Estate 31.5 Diversified Pacific/Asia 3.0

Large-cap Blend 30.4 Small-cap Growth 3.6

Large-cap Value 30.1 Pacific/Asia ex-Japan 8.4

All data are as of market close Wednesday, June 25, 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 24. 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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