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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYThe U.S. stock market staged a rousing recovery, after a worrisome decline thathad some traders concerned that the bull market may be faltering. On Aug. 15the Dow Jones industrial average fell 247 points to 7694, a 3.1% decline, inits worst selloff since November, 1991. Profit concerns prompted the decline.But the market came roaring back on the three days that followed, with100-point gains on each day, and the Dow topped 8000 again on Aug. 20. Gains incomputer-stock earnings fed the rally.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8021.2 1.2 40.2

NASDAQ Combined Composite 1628.7 2.9 44.8

S&P MidCap 400 314.7 1.3 36.3

S&P SmallCap 600 174.2 1.7 33.1

S&P SuperComposite 1500 201.6 1.8 40.3

% change

SECTORS Latest Week Year

Bloomberg Information Age 304.0 1.4 54.2

S&P Financials 108.2 2.1 54.2

S&P Utilities 199.1 0.7 4.3

PSE Technology 338.7 4.4 69.4

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4958.4 -0.9 27.7

Frankfurt (DAX) 4223.4 -1.3 65.0

Tokyo (NIKKEI 225) 19,252.2 1.3 -8.9

Hong Kong (Hang Seng) 15,855.7 -3.8 40.2

Toronto (TSE 300) 6773.1 -0.3 31.5

Mexico City (IPC) 5124.2 2.1 50.6

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.62% 1.62% 2.16%

S&P 500 P/E Ratio (Last 12 mos.) 23.3 23.2 19.0

S&P 500 P/E Ratio (Next 12 mos.)* 18.6 18.6 NA

First Call Earnings Revision* -1.2% -1.4% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 813.5 808.1 Positive

Stocks above 200-day average 80.0% 81.0% Negative

Options: Put/call ratio 0.59 0.50 Negative

Insiders: Vickers Sell/buy ratio 3.20 2.91 Negative

BEST-PERFORMING Last Last 12

GROUPS month% months%

Homebuilding 16.3 Semiconductors 127.5

Transportation Services 12.0 Trucking 116.3

Semiconductors 11.7 Computer Systems 98.6

Tobacco 11.5 Savings & Loans 88.7

Money Center Banks 9.9 Invest.Banking/Brkrge. 83.0

WORST-PERFORMING Last Last 12

GROUPS month% months%

Health-Care Services -10.5 Gold Mining -20.7

Cosmetics -8.4 Photography/Imaging -9.7

Soft Drinks -8.4 Engineering & Constr. -9.7

Shoes -7.2 Hospital Management -2.4

Oil & Gas Drilling -5.5 Electric Companies 1.8

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Telebras-ADR 124 3/4 -6 1/4

Coca-Cola 60 13/16 -7 1/2

Signet Banking 49 15/16 -1/4

United HealthCare 50 11/16 -2 11/16

Warner-Lambert 135 1/16 -4 7/16

McDonald's 49 3/4 -3/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 97 29/32 12 7/32

Microsoft 138 13/16 2 7/8

Dell Computer 84 11/16 8 3/8

Oracle 41 1/8 4 21/64

Sun Microsystems 50 7/16 4 11/16

Apple Computer 24 7/16 8 9/32

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.16 5.15 4.93

90-DAY TREASURY BILLS 5.23 5.32 5.18

6-MONTH BANK CDS 5.17 5.17 5.02

1-YEAR TREASURY BILLS 5.51 5.60 5.62

10-YEAR TREASURY NOTES 6.24 6.36 6.59

30-YEAR TREASURY BONDS 6.54 6.64 6.80

LONG-TERM AA INDUSTRIALS 7.05 7.10 7.32

LONG-TERM BBB INDUSTRIALS 7.41 7.48 7.74

LONG-TERM AA TELEPHONES 7.33 7.42 7.56

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 4.65% 4.67% 5.23% 5.25%

PERCENT OF TREASURIES 74.52 73.60 79.64 78.84

TAXABLE EQUIVALENT 6.74 6.77 7.58 7.61

INSURED REVENUE BONDS 4.79 4.83 5.45 5.49

PERCENT OF TREASURIES 76.77 76.13 82.99 82.44

TAXABLE EQUIVALENT 6.94 7.00 7.90 7.96

CHARTS BY ALBERTO MENA/BW

EQUITY FUNDS

Leaders Laggards

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

Lexington Troika Russia 15.2 Merrill Emerging Tigers B -14.2

Robertson Steph. Info Age A 8.8 DFA Japanese Small Co. -11.5

Steadman American Industry 8.6 Tocqueville Intl. Value -9.9

Wright EquiFd.-Mexico 8.3 Fidelity Emerging Markets -8.8

United Svcs. China Reg. Op. 8.2 Van Eck Asia Infrastr. A -8.3

EQUITY FUNDS

Leaders Laggards

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

Lexington Troika Russia 143.0 Bull & Bear Gold Investors -42.8

Fidelity Select Electronics 88.5 Frontier Equity -42.6

ITT Hartford Cap. Apprec. A 85.0 United Svcs. Gold Shares -42.5

American Heritage 83.1 Morgan Stan. Instl. Gold A -38.8

Fidelity Select Computers 72.0 DFA Japanese Small Co. -38.5

EQUITY FUNDS CATEGORIES

Leaders Laggards

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

Technology 3.6 Diversified Pacific/Asia -4.1

Natural Resources 2.8 Japan -3.7

Precious Metals 2.7 Health -3.4

Small-cap Value 2.7 Pacific/Asia ex-Japan -3.2

Small-cap Blend 2.4 Foreign -2.1

EQUITY FUNDS CATEGORIES

Leaders Laggards

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

Financial 47.4 Precious Metals -27.2

Technology 46.3 Japan -5.2

Latin America 41.5 Diversified Pacific/Asia 3.4

Large-cap Growth 36.6 Pacific/Asia ex-Japan 10.0

Large-cap Blend 36.3 Utilities 16.7

All data are as of market close Wednesday, Aug. 20, 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 Aug. 19. 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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