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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY Positive earnings surprises streamed off the wires, and investors wereexuberant. The markets, already in a good mood after last week's assessment ofthe economy by Fed Chairman Alan Greenspan, reacted to news of a budget accordand reports of little inflationary pressure by propelling the Dow Jonesindustrial average to a new high. The Standard & Poor's 500-stock index alsorose to uncharted heights, at 952, and the NASDAQ Composite Index sprinted to arecord 1588. Falling bond yields helped fuel the rally as long bond yields sankto 6.33%.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8254.9 2.1 49.3

NASDAQ Combined Composite 1588.1 1.3 47.0

S&P MidCap 400 313.6 2.1 42.7

S&P SmallCap 600 170.8 1.5 37.8

S&P SuperComposite 1500 203.7 1.7 48.6

% change

SECTORS Latest Week Year

Bloomberg Information Age 298.3 0.7 56.5

S&P Financials 111.0 4.8 69.5

S&P Utilities 201.2 1.8 8.8

PSE Technology 323.7 -0.3 70.2

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4927.3 1.1 33.1

Frankfurt (DAX) 4421.7 0.4 78.8

Tokyo (NIKKEI 225) 20,212.8 0.4 -2.3

Hong Kong (Hang Seng) 15,983.2 1.6 49.6

Toronto (TSE 300) 6850.6 1.3 39.8

Mexico City (IPC) 4974.2 4.9 66.5

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.59 % 1.60 % 2.24 %

S&P 500 P/E Ratio (Last 12 mos.) 23.7 23.4 18.3

S&P 500 P/E Ratio (Next 12 mos.)* 19.1 19.0 NA

First Call Earnings Surprise* 2.39 % 2.55 % NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 796.0 790.0 Positive

Stocks above 200-day average 81.0 % 80.0 % Negative

Options: Put/call ratio 0.45 0.45 Negative

Insiders: Vickers Sell/buy ratio 2.90 2.83 Negative

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.17 5.16 4.93

90-DAY TREASURY BILLS 5.23 5.20 5.34

6-MONTH BANK CDS 5.18 5.18 5.04

1-YEAR TREASURY BILLS 5.43 5.52 5.88

10-YEAR TREASURY NOTES 6.04 6.14 6.89

30-YEAR TREASURY BONDS 6.33 6.42 7.05

LONG-TERM AA INDUSTRIALS 6.78 6.90 7.56

LONG-TERM BBB INDUSTRIALS 7.14 7.24 7.94

LONG-TERM AA TELEPHONES 7.04 7.13 7.80

BEST-PERFORMING Last Last 12

GROUPS month% months%

Homebuilding 30.1 Trucking 124.6

Computer Systems 24.3 Semiconductors 119.9

Semiconductors 20.7 Oil & Gas Drilling 110.5

Communications Equip. 16.7 Invest. Banking/Brkrge. 105.6

Department Stores 16.5 Savings & Loans 101.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Money Center Banks -9.4 Gold Mining -15.6

Hospital Management -9.2 Photography/Imaging -6.7

Defense Electronics -9.2 Engineering & Constr. 3.4

Photography/Imaging -6.6 Electric Companies 4.4

Metal & Glass Containers -4.3 Manufactured Housing 7.1

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Nynex 54 57/64 -2 43/64

Ameritech 67 7/8 -1/16

Bell Atlantic 71 7/8 -4

U S West Communications 36 1/2 -1 3/16

Sprint 49 1/16 -3 3/16

Toys 'R' Us 34 1/8 - 7/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 88 1/8 17 7/32

Microsoft 139 15/16 13 9/16

Dell Computer 80 7/8 22 5/32

Amgen 58 15/16 13/16

Ascend Communications 53 1/8 13 3/4

Sun Microsystems 45 11/16 8 15/32

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 4.48% 4.53% 5.06% 5.10%

PERCENT OF TREASURIES 74.20 73.72 80.04 79.33

TAXABLE EQUIVALENT 6.49 6.57 7.33 7.39

INSURED REVENUE BONDS 4.64 4.67 5.30 5.32

PERCENT OF TREASURIES 76.85 75.99 83.84 82.75

TAXABLE EQUIVALENT 6.72 6.77 7.68 7.71

EQUITY FUND CATEGORIES

Leaders Laggards

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

Fidelity Select Computers 18.1 Invesco Strategic Gold -9.8

Lexington Troika Russia 17.1 Van Eck Gold Opport. A -8.7

Steadman American Industry 16.9 Gabelli Gold -8.6

Robertson Steph. Info. Age A 16.9 Morgan Stan. Inst. Gold A -8.3

Delaware Aggressive Gr. A 15.3 Midas -8.2

Leaders Laggards

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

Lexington Troika Russia 151.3 Frontier Equity -45.0

ITT Hartford Cap. Apprec. A 98.9 United Svcs. Gold Shares -43.8

Fidelity Select Electronics 88.2 Bull & Bear Gold Investors -40.4

Pioneer Growth A 79.8 Morgan Stan. Inst. Gold A -39.4

American Heritage 78.7 Lexington Strategic Invmts. -37.2

Leaders Laggards

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

Technology 10.8 Precious Metals -5.0

Large-cap Growth 7.1 Pacific/Asia ex-Japan 0.6

Mid-cap Growth 6.7 Japan 0.6

Financial 6.1 Diversified Pacific/Asia 0.8

Mid-cap Blend 5.7 Foreign 1.4

Leaders Laggards

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

Financial 58.6 Precious Metals -24.5

Latin America 54.8 Japan -1.8

Technology 50.5 Diversified Pacific/Asia 10.8

Large-cap Growth 46.2 Pacific/Asia ex-Japan 16.9

Large-cap Blend 45.3 International Hybrid 21.7

All data are as of market close Wednesday, July 30, 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 29. 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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