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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYA barn-burning week in the financial markets. The Dow Jones industrial average,after declining below 7900 on July 18, staged a powerful rally in the days thatfollowed, climbing to almost 8100. Interest rates tumbled, while companiesgenerally reported strong earnings. The market's activity was largely sparkedby Federal Reserve chairman Alan Greenspan, who testified in Congress on July22 that the recent U.S. economic performance is "exceptional." The dollar,also reacting to Greenspan's testimony, rose to a six-year high vs. the mark.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8088.4 0.6 51.1

NASDAQ Combined Composite 1567.7 -0.8 50.4

S&P MidCap 400 307.1 0.2 43.3

S&P SmallCap 600 168.2 -0.6 36.8

S&P SuperComposite 1500 200.3 0.0 48.1

% change

SECTORS Latest Week Year

Bloomberg Information Age 296.1 -0.4 62.4

S&P Financials 105.9 0.6 64.8

S&P Utilities 197.6 -2.2 5.5

PSE Technology 324.6 0.4 81.1

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4874.5 -1.8 32.9

Frankfurt (DAX) 4406.1 4.9 80.0

Tokyo (NIKKEI 225) 20,130.5 -1.1 -2.4

Hong Kong (Hang Seng) 15,738.8 1.9 47.1

Toronto (TSE 300) 6765.2 0.3 37.5

Mexico City (IPC) 4742.1 -0.9 57.9

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.60% 1.62% 2.29%

S&P 500 P/E Ratio (Last 12 mos.) 23.4 23.5 18.0

S&P 500 P/E Ratio (Next 12 mos.)* 19.0 18.8 NA

First Call Earnings Surprise* 2.55% 1.87% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 790.0 784.2 Positive

Stocks above 200-day average 80.0% 80.0% Negative

Options: Put/call ratio 0.45 0.45 Negative

Insiders: Vickers Sell/buy ratio 2.83 2.42 Negative

BEST-PERFORMING Last Last 12

GROUPS month% months%

Computer Systems 23.4 Semiconductors 127.7

Oil & Gas Drilling 22.8 Trucking 117.5

Semiconductors 20.5 Computer Systems 113.6

Oil-Well Equip. & Svcs. 20.2 Invest. Banking/Brkrge. 104.6

Communications Equip. 16.7 Savings & Loans 103.8

WORST-PERFORMING Last Last 12

GROUPS month% months%

Metal & Glass Containers -9.8 Gold Mining -19.9

Photography/Imaging -6.5 Photography/Imaging -6.9

Hospital Management -4.0 Manufactured Housing -1.2

Long-Dist. Telecomm. -3.9 Engineering & Constr. -0.9

Pollution Control -2.7 Electric Companies 1.1

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Telebras-ADR 143 1/8 -1 5/8

Pennzoil 76 1/2 -7/8

Bell Atlantic 74 3/16 -9/16

Nynex 56 5/8 -1/4

United Healthcare 53 -1 1/4

Wells Fargo 259 3/4 -16 5/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 88 3/4 16 5/32

Microsoft 144 1/8 16 1/16

Dell Computer 160 40 9/16

Ascend Communications 52 1/2 12 1/16

Amgen 59 5/16 7/16

Pfizer 61 5 3/8

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.16 5.16 4.93

90-DAY TREASURY BILLS 5.19 5.17 5.30

6-MONTH BANK CDS 5.18 5.18 5.04

1-YEAR TREASURY BILLS 5.51 5.51 5.85

10-YEAR TREASURY NOTES 6.15 6.20 6.80

30-YEAR TREASURY BONDS 6.43 6.48 6.97

LONG-TERM AA INDUSTRIALS 6.90 6.94 7.47

LONG-TERM BBB INDUSTRIALS 7.24 7.32 7.92

LONG-TERM AA TELEPHONES 7.13 7.18 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 4.53% 4.61% 5.10% 5.18%

PERCENT OF TREASURIES 73.72 74.58 79.33 80.00

TAXABLE EQUIVALENT 6.57 6.68 7.39 7.51

INSURED REVENUE BONDS 4.67 4.72 5.32 5.37

PERCENT OF TREASURIES 75.99 76.36 82.75 82.93

TAXABLE EQUIVALENT 6.77 6.84 7.71 7.78

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Fidelity Select Energy Serv. 17.1 Gabelli Gold -12.7

Van Wagoner Mid-Cap 16.9 Invesco Strategic Gold -11.5

Fidelity Select Computers 16.3 Bull & Bear Gold Investors -11.0

Robertson Steph. Info. Age A 15.5 Midas -11.0

Amerindo Technology D 15.2 Van Eck Gold Opport. A -10.7

Leaders Laggards

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

Lexington Troika Russia 125.8 United Svcs. Gold Shares -46.5

ITT Hartford Cap. Apprec. A 97.4 Bull & Bear Gold Investors -42.2

Fidelity Select Electronics 91.4 Morgan Stan. Inst. Gold A -40.6

Pioneer Growth A 78.8 Lexington Strat. Invmts. -38.6

Rydex OTC 77.7 Midas -36.0

EQUITY FUND CATEGORIES

Leaders Laggards

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

Technology 10.2 Precious Metals -6.7

Mid-cap Growth 6.6 Diversified Pacific/Asia 0.1

Large-cap Growth 6.2 Diversified Emerging Markets 0.2

Small-cap Growth 6.1 Japan 0.3

Small-cap Blend 5.3 Latin America 0.4

Leaders Laggards

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

Financial 54.9 Precious Metals -27.0

Technology 50.1 Japan -3.2

Large-cap Growth 44.7 Diversified Pacific/Asia 6.5

Large-cap Blend 43.3 Pacific/Asia ex-Japan 10.4

Latin America 43.1 Utilities 19.7

All data are as of market close Wednesday, July 23, 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 July 22. 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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