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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYBond bulls stampeded on Sept. 16 when the August consumer price index weighedin with lower-than-expected inflation. The 30-year U.S. Treasury bond stagedthe year's biggest one-day gain, cutting the yield by 0.16 percentage points.The bond rally carried over to blue-chip stocks, which have been struggling oflate. All told, the Dow Jones industrials were up 2.2% for the week, andsmall-caps and mid-caps continued to make gains, too. Lower rates gave an extraboost to financial stocks. The S&P Financials index climbed over 4%.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7886.4 2.2 33.9

NASDAQ Combined Composite 1666.5 1.7 38.5

S&P MidCap 400 330.4 2.4 38.1

S&P SmallCap 600 184.5 1.8 35.7

S&P SuperComposite 1500 203.7 2.5 38.0

% change

SECTORS Latest Week Year

Bloomberg Information Age 296.8 1.4 41.7

S&P Financials 111.4 4.1 56.5

S&P Utilities 206.0 2.0 8.2

PSE Technology 333.8 1.7 52.6

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5013.1 2.2 26.2

Frankfurt (DAX) 4010.5 -1.0 52.6

Tokyo (NIKKEI 225) 17,683.3 -5.5 -17.0

Hong Kong (Hang Seng) 14,411.2 -2.7 24.0

Toronto (TSE 300) 6898.1 1.9 30.9

Mexico City (IPC) 5009.6 3.9 49.4

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.60 % 1.62 % 2.12 %

S&P 500 P/E Ratio (Last 12 mos.) 23.9 23.6 19.5

S&P 500 P/E Ratio (Next 12 mos.)* 18.9 18.6 NA

First Call Earnings Revision* -0.98 % -0.44% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 831.1 826.9 Positive

Stocks above 200-day average 84.0 % 84.0 Negative

Options: Put/call ratio 0.58 0.47 Negative

Insiders: Vickers Sell/buy ratio 3.43 3.47 Negative

Data: Bloomberg Financial Markets; *First Call Corp.

BEST-PERFORMING Last Last 12

GROUPS month% months%

Trucking 37.9 Trucking 176.1

Oil & Gas Drilling 22.4 Savings & Loans 102.0

Specialty Appar. Retailers 18.2 Oil & Gas Drilling 98.4

Oil-Well Equip. & Svcs. 17.8 Invest. Banking/Brkrge. 94.4

Invest. Banking/Brkrge. 13.4 Semiconductors 92.5

WORST-PERFORMING Last Last 12

GROUPS month% months%

Hospital Management -12.0 Photography/Imaging -23.3

Shoes -9.8 Gold Mining -23.1

Metals -9.8 Hospital Management -18.3

Photography/Imaging -9.0 Shoes -8.7

Gold Mining -8.0 Engineering & Constr. -8.4

BLOOMBERG MONEY FLOW ANALYSIS

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

IBM 99 5/8 -4 3/8

Citicorp 131 7/16 -3 3/4

Micron Technology 40 7/8 -3 5/8

Motorola 68 11/16 -11 1/4

International Paper 53 1/16 -1 1/16

Telebras-ADR 125 5/8 -2 3/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 95 13/16 1 1/4

Microsoft 136 3/8 2 1/2

Dell Computer 92 3/8 10

Oracle 39 9/16 1 1/16

WorldCom 35 7/8 4 3/16

Sun Microsystems 50 13/16 3 1/16

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.15 5.16 4.97

90-DAY TREASURY BILLS 5.09 5.11 5.31

6-MONTH BANK CDS 5.17 5.17 5.05

1-YEAR TREASURY BILLS 5.43 5.61 5.83

10-YEAR TREASURY NOTES 6.09 6.37 6.81

30-YEAR TREASURY BONDS 6.39 6.66 7.00

LONG-TERM AA INDUSTRIALS 6.90 7.12 7.57

LONG-TERM BBB INDUSTRIALS 7.27 7.53 7.96

LONG-TERM AA TELEPHONES 7.18 7.43 7.74

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 4.57 4.66% 5.15 5.24%

PERCENT OF TREASURIES 74.99 73.24 80.57 78.72

TAXABLE EQUIVALENT 6.62 6.75 7.46 7.59

INSURED REVENUE BONDS 4.70 4.82 5.36 5.48

PERCENT OF TREASURIES 77.12 75.76 83.84 82.32

TAXABLE EQUIVALENT 6.81 6.99 7.77 7.94

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Fidelity Sel. Energy Serv. 18.0 Merrill Emerging Tigers B -13.0

GT Glob. Natural Res. A 15.0 Fidelity Japan Small Co. -12.5

Bridgeway Ultra-Small Co. 14.8 Morgan Stan. Asian Grth. C -11.8

Perritt Capital Growth 14.4 Morg. Stan. Instl. Asia Eq. A -10.8

Phoenix Small Cap A 14.0 Blanchard Precious Metals -10.5

Leaders Laggards

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

Lexington Troika Russia 142.2 Bull & Bear Gold Investors -48.8

Fidelity Sel. Energy Serv. 92.4 United Svcs. Gold Shares -47.3

Hartford Cap. Apprec. A 89.8 Midas -45.2

Fidelity Select Electronics 79.6 Morgan Stan. Instl. Gold A -44.8

State St. Research Aurora A 75.1 Gabelli Gold -43.3

EQUITY FUND CATEGORIES

Leaders Laggards

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

Small-cap Growth 8.4 Japan -8.3

Small-cap Blend 7.4 Diversified Pacific/Asia -7.6

Small-cap Value 6.6 Pacific/Asia ex-Japan -7.1

Health 6.4 Precious Metals -6.1

Natural Resources 5.4 Diversified Emerging Markets -3.2

Leaders Laggards

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

Financial 49.6 Precious Metals -32.7

Technology 40.0 Japan -10.5

Small-cap Value 39.8 Diversified Pacific/Asia -4.4

Latin America 37.8 Pacific/Asia ex-Japan 0.5

Mid-cap Value 37.2 International Hybrid 12.6

All data are as of market close Wednesday, Sept. 17, 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 Sept. 16. 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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