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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYThe stock market finally shrugged off the blahs on Dec. 29, with a 113-pointrally in the Dow industrials, a rise of 1.5%. The S&P 500 did better, logging a1.8% gain. Still, both averages are struggling to finish December in the black.Investors continue to worry if the troubles in Asia will hurt the earnings ofthe market-leading U.S. multinationals and technology companies. Asia marketsare still under siege. The Nikkei 225 is back under 15,000, and Korean stockscontinue to sink even in the face of a strengthening currency.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7792.4 1.3 19.0

NASDAQ Combined Composite 1537.5 1.8 19.4

S&P MidCap 400 325.0 1.5 27.3

S&P SmallCap 600 176.8 1.1 22.3

S&P SuperComposite 1500 204.9 1.5 26.4

% change

SECTORS Latest Week Year

Bloomberg Information Age 289.1 1.8 23.8

S&P Financials 116.3 1.1 38.3

S&P Utilities 234.2 1.1 16.6

PSE Technology 282.8 1.5 16.0

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5112.4 1.2 24.2

Frankfurt (DAX) 4197.4 1.8 45.3

Tokyo (NIKKEI 225) 14,775.2 -0.2 -23.7

Hong Kong (Hang Seng) 10,503.0 1.3 -22.1

Toronto (TSE 300) 6650.0 1.5 11.7

Mexico City (IPC) 5120.6 4.0 53.0

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.61% 1.60% 1.90%

S&P 500 P/E Ratio (Last 12 mos.) 23.6 24.1 21.2

S&P 500 P/E Ratio (Next 12 mos.)* 18.6 19.0 16.4

First Call Earnings Revision* -1.76% -1.68% -0.06%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 894.2 892.2 Positive

Stocks above 200-day average 62.0% 63.0% Neutral

Options: Put/call ratio 0.58 0.76 Negative

Insiders: Vickers Sell/buy ratio 2.03 2.03 Neutral

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.25 5.24 4.95

90-DAY TREASURY BILLS 5.38 5.47 5.14

6-MONTH BANK CDS 5.21 5.21 5.01

1-YEAR TREASURY BILLS 5.52 5.50 5.43

10-YEAR TREASURY NOTES 5.76 5.70 6.30

30-YEAR TREASURY BONDS 5.92 5.87 6.54

LONG-TERM AA INDUSTRIALS 6.55 6.54 7.05

LONG-TERM BBB INDUSTRIALS 6.88 6.87 7.51

LONG-TERM AA TELEPHONES 6.89 6.88 7.24

BEST-PERFORMING Last Last 12

GROUPS month% months%

Manufactured Housing 17.0 Trucking 133.3

Electric Companies 7.1 Invest. Banking/Brkrge. 67.9

Pollution Control 6.5 Savings & Loans 66.3

Cosmetics 6.4 Broadcasting 60.1

Commercial Services 6.4 Homebuilding 56.1

WORST-PERFORMING Last Last 12

GROUPS month% months%

Shoes -21.4 Engineering & Constr. -39.5

Oil & Gas Drilling -15.1 Gold Mining -37.3

Metals -14.9 Shoes -36.3

Trucking -14.9 Metals -36.3

Machine Tools -14.8 Photography/Imaging -28.3

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Citicorp 121 15/16 -7 1/2

Chase Manhattan 106 11/16 -8 5/16

IBM 101 11/16 -10 7/8

Coca-Cola 64 3/8 - 3/16

J.P. Morgan 111 7/16 -9 5/16

Microsoft 120 3/4 -23 1/16

Eli Lilly 67 13/16 2 3/8

Sun Microsystems 38 11/16 5/16

Comcast 30 3/8 2

HBO 45 7/8 13/16

Chubb 74 3/8 2 5/8

Qwest Communications Intl. 60 5 7/8

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 4.40% 4.40% 4.98% 4.98%

PERCENT OF TREASURIES 76.47 77.22 84.10 84.82

TAXABLE EQUIVALENT 6.38 6.38 7.22 7.22

INSURED REVENUE BONDS 4.50 4.50 5.17 5.17

PERCENT OF TREASURIES 78.20 78.97 87.31 88.05

TAXABLE EQUIVALENT 6.52 6.52 7.49 7.49

EQUITY FUNDS

Leaders Laggards

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

Lexington Strategic Silver 11.0 DFA Japanese Small Co. -19.0

Blanchard Precious Metals 10.6 Merrill Technology A -18.1

Keystone Precious Metals 7.7 MFS Managed Sectors B -17.5

Lexington Strat. Invmnts. 7.6 Fidelity Select Computers -16.5

Amer. Century Global Gold 7.5 Van Wagoner Micro-Cap -15.1

Leaders Laggards

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

American Heritage 68.5 Midas -58.5

Lexington Troika Russia 64.0 U.S. Global Investors Gold -57.5

Armada Equity Grth. Instl. 58.2 Bull & Bear Gold Investors -56.2

Evergreen U.S. Real Est. Y 55.7 DFA Japanese Small Co. -55.5

Fidelity Sel. Brokerage 55.2 Invesco Strategic Gold -55.0

EQUITY FUND CATEGORIES

Leaders Laggards

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

Precious Metals 3.9 Technology -9.0

Utilities 3.4 Japan -6.8

Financial 2.6 Diversified Pacific/Asia -5.3

Europe 0.5 Natural Resources -5.1

Real Estate 0.1 Small-cap Growth -5.1

Leaders Laggards

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

Financial 39.4 Precious Metals -41.9

Small-cap Value 25.0 Pacific/Asia ex-Japan -34.4

Utilities 23.4 Diversified Pacific/Asia -26.9

Mid-cap Value 23.4 Japan -19.1

Communications 22.8 Diversified Emerging Mkts. -6.2

All data are as of market close Monday, Dec. 29, 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 Dec. 26. 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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