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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYDespite a mini-sell-off on Sept. 24, stocks posted gains for the week. Thetech-laden NASDAQ combined index hit new highs on Sept. 23 and small-cap stocksshowed strength. But the big news was in the bond market. Fixed-incomesecurities continued their rally in the wake of signs that inflation wasremaining dormant. The yield on the 30-year Treasury fell to 6.31%, onlyslightly above the low for the year. Particularly encouraging: the strongdemand for the 5-year Treasury notes auctioned on Sept. 24. Mexican stocksstaged a huge rally.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7906.7 0.3 34.6

NASDAQ Combined Composite 1687.4 1.3 38.9

S&P MidCap 400 329.6 -0.2 37.4

S&P SmallCap 600 185.9 0.8 36.4

S&P SuperComposite 1500 204.0 0.1 37.6

% change

SECTORS Latest Week Year

Bloomberg Information Age 300.8 1.3 42.9

S&P Financials 111.5 0.1 56.2

S&P Utilities 206.1 0.0 8.4

PSE Technology 339.1 1.6 52.2

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5077.2 1.3 29.8

Frankfurt (DAX) 4102.4 2.3 55.5

Tokyo (NIKKEI 225) 18,420.1 4.2 -13.0

Hong Kong (Hang Seng) 14,205.4 -1.4 23.0

Toronto (TSE 300) 7011.8 1.6 32.3

Mexico City (IPC) 5210.6 4.0 58.2

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.59 % 1.60 % 2.11 %

S&P 500 P/E Ratio (Last 12 mos.) 24.1 23.9 19.7

S&P 500 P/E Ratio (Next 12 mos.)* 19.0 18.9 NA

First Call Earnings Revision* -1.48 % -0.98 % NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 836.2 831.1 Positive

Stocks above 200-day average 83.0 % 84.0 % Negative

Options: Put/call ratio 0.47 0.58 Negative

Insiders: Vickers Sell/buy ratio 3.76 3.43 Negative

BEST-PERFORMING Last Last 12

GROUPS month% months%

Trucking 31.2 Trucking 183.8

Invest. Banking/Brkge. 16.8 Invest. Banking/Brkge. 106.2

Oil & Gas Drilling 14.5 Savings & Loans 101.7

Specialty Appar. Retailers 11.8 Oil & Gas Drilling 89.9

Transportation Services 11.7 Semiconductors 85.4

WORST-PERFORMING Last Last 12

GROUPS month% months%

Hospital Management -9.6 Photography/Imaging -20.4

Metals -9.0 Gold Mining -18.2

Photography/Imaging -7.8 Hospital Management -15.3

Specialty Printing -6.7 Engineering & Constr. -11.4

Engineering & Constr. -6.5 Shoes -5.8

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

IBM 103 1/4 -1 3/4

Citicorp 134 1/4 - 7/16

Micron Technology 37 1/16 -8 3/4

International Paper 53 3/4 - 7/8

American Express 80 3/4 - 5/16

Motorola 68 3/16 -11 3/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 99 1/8 4 15/16

Dell Computer 100 3/8 15 11/16

WorldCom 35 11/16 3 11/16

Applied Materials 100 5/8 9/16

Pfizer 62 6 3/8

Quantum 42 7/16 5 3/4

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.14 5.15 4.98

90-DAY TREASURY BILLS 4.92 5.10 5.17

6-MONTH BANK CDS 5.17 5.17 5.07

1-YEAR TREASURY BILLS 5.44 5.46 5.73

10-YEAR TREASURY NOTES 6.03 6.10 6.77

30-YEAR TREASURY BONDS 6.31 6.39 6.99

LONG-TERM AA INDUSTRIALS 6.77 6.90 7.51

LONG-TERM BBB INDUSTRIALS 7.16 7.27 7.92

LONG-TERM AA TELEPHONES 7.10 7.18 7.70

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 4.57 5.15 5.15

PERCENT OF TREASURIES 75.73 74.99 81.56 80.57

TAXABLE EQUIVALENT 6.62 6.62 7.46 7.46

INSURED REVENUE BONDS 4.72 4.70 5.38 5.36

PERCENT OF TREASURIES 78.21 77.12 85.20 83.84

TAXABLE EQUIVALENT 6.84 6.81 7.80 7.77

Leaders Laggards

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

Cappiello-Rushmore Emrg. Gr. 16.5 Morgan Stan. Asian Grth. C -16.9

Perritt Capital Growth 14.9 Morg. Stan. Instl. Asia Eq. A -16.2

Fidelity Select Biotech. 14.8 Merrill Emerging Tigers B -16.2

BT Investment Small Cap 13.8 Guinness Flight Asia Sm. Cap -16.0

Bridgeway Ultra-Small Co. 13.7 Fidelity Southeast Asia -15.7

Leaders Laggards

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

Lexington Troika Russia 149.5 Bull & Bear Gold Investors -49.3

Fidelity Sel. Energy Service 95.8 United Svcs. Gold Shares -47.3

Hartford Cap. Apprec. A 93.2 Midas -45.5

American Heritage 81.4 Morgan Stan. Instl. Gold A -44.3

Fidelity Select Electronics 78.7 Lexington Strategic Invmnts. -42.4

Leaders Laggards

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

Small-cap Growth 8.7 Pacific/Asia ex-Japan -11.3

Health 8.3 Diversified Pacific/Asia -8.5

Small-cap Blend 7.4 Precious Metals -6.7

Financial 7.2 Japan -5.9

Small-cap Value 6.6 Diversified Emerging Markets -2.7

Leaders Laggards

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

Financial 51.7 Precious Metals -30.8

Latin America 43.5 Japan -9.8

Small-cap Value 41.2 Diversified Pacific/Asia -6.0

Technology 39.3 Pacific/Asia ex-Japan -4.7

Real Estate 38.5 International Hybrid 13.7

All data are as of market close Wednesday, Sept. 24, 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. 23. 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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