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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYDespite a 78-point pasting on Jan. 21, the Dow industrials managed to close upfor the week. The big casualty: IBM, which tumbled 8 1/4, the result of itswarning that the strong dollar will hurt earnings in the first quarter.Interest rates backed up a bit, as concerns over Asia abated. The Nikkei scoredan impressive 10.3% gain in just four trading days. The Mexican bolsa is downsharply since the start of the year due to the drop in oil prices, a factorthat is sure to translate into a decline in revenues for oil-rich Mexico. Thepeso also weakened.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7794.4 0.1 13.8

NASDAQ Combined Composite 1587.9 2.5 14.4

S&P MidCap 400 324.6 1.4 21.8

S&P SmallCap 600 177.8 2.3 20.1

S&P SuperComposite 1500 208.1 1.4 23.2

% change

SECTORS Latest Week Year

Bloomberg Information Age 301.6 1.9 21.5

S&P Financials 114.3 0.1 30.3

S&P Utilities 228.4 -0.5 11.4

PSE Technology 293.6 2.3 10.6

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5272.3 3.2 25.0

Frankfurt (DAX) 4282.8 2.2 41.4

Tokyo (NIKKEI 225) 16,684.4 10.3 -7.4

Hong Kong (Hang Seng) 9246.8 0.2 -32.5

Toronto (TSE 300) 6494.6 2.3 7.2

Mexico City (IPC) 4617.7 -0.7 24.5

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.57 % 1.60 % 1.85 %

S&P 500 P/E Ratio (Last 12 mos.) 24.3 23.8 21.8

S&P 500 P/E Ratio (Next 12 mos.)* 19.3 18.7 16.7

First Call Earnings Surprise* 1.62 % 3.12 % 2.63 %

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 908.0 903.8 Positive

Stocks above 200-day average 63.0 % 57.0 % Neutral

Options: Put/call ratio 0.52 0.68 Negative

Insiders: Vickers Sell/buy ratio 1.76 1.80 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Defense Electronics 22.7 Trucking 139.8

Trucking 18.2 Specialty Appar. Retailers 74.4

Transportation Services 13.9 Airlines 67.1

Specialty Appar. Retailers 10.8 Broadcasting 66.4

Drug Chains 10.3 Homebuilding 58.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Savings & Loans -7.9 Engineering & Constr. -42.3

Invest. Banking/Brkrge. -7.7 Metals -41.9

Pollution Control -7.6 Shoes -36.3

Oil & Gas Drilling -6.0 Gold Mining -35.1

Money Center Banks -5.9 Photography/Imaging -30.0

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Citicorp 119 -8 3/16

Wells Fargo 329 3/4 -3

Coca-Cola 65 15/16 -1/8

SBC Communications 75 9/16 -7/16

BJ Services 62 3/16 -4 1/8

BankAmerica 69 1/16 -3 9/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 76 1/4 4 13/16

Cisco Systems 59 1/2 4 7/8

Applied Materials 30 3/4 1/4

L.M. Ericsson-ADR 39 15/16 5 1/4

PeopleSoft 35 3/16 7/8

KLA-Tencor 40 7/16 9/16

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.21 5.23 4.96

90-DAY TREASURY BILLS 5.12 5.17 5.16

6-MONTH BANK CDS 5.14 5.18 5.02

1-YEAR TREASURY BILLS 5.21 5.17 5.57

10-YEAR TREASURY NOTES 5.54 5.41 6.55

30-YEAR TREASURY BONDS 5.81 5.71 6.83

LONG-TERM AA INDUSTRIALS 6.44 6.35 7.32

LONG-TERM BBB INDUSTRIALS 6.83 6.70 7.74

LONG-TERM AA TELEPHONES 6.77 6.68 7.52

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 4.26% 4.24% 4.84% 4.82%

PERCENT OF TREASURIES 76.96 77.80 83.31 84.03

TAXABLE EQUIVALENT 6.17 6.14 7.01 6.99

INSURED REVENUE BONDS 4.38 4.35 5.05 5.02

PERCENT OF TREASURIES 79.13 79.82 86.93 87.52

TAXABLE EQUIVALENT 6.35 6.30 7.32 7.28

EQUITY FUNDS

Leaders Laggards

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

Matthews Korea 64.0 Lexington Crosby Sm. Asia -18.8

DFA Japanese Small Co. 14.5 US Global Inv. China Reg. -18.4

Barr Rosenberg Japan Instl. 11.8 Guinness Flgt. Asia Sm. Cap -17.8

Oberweis Mid-Cap 9.9 Montgomery Emerg. Asia R -16.3

Merrill Asset Income A 9.8 Colonial Newport Gr. China A -15.6

Leaders Laggards

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

Pilgrim Amer. Bank & Thr. A 53.3 Midas -60.6

FBR Small Cap Financial 52.0 Bull & Bear Gold Investors -59.0

Evergreen U.S. Real Est. Y 48.7 Invesco Strategic Gold -58.1

American Heritage 48.4 US Global Investors Gold -57.5

Fidelity Select Retailing 47.7 Morgan Stan. Instl. Gold A -57.0

EQUITY FUND CATEGORIES

Leaders Laggards

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

Japan 7.7 Pacific/Asia ex-Japan -7.7

Technology 5.9 Latin America -3.3

Large-cap Growth 5.3 Diversified Emerging Mkts. -2.9

Communications 5.2 Precious Metals -2.9

Health 5.1 Diversified Pacific/Asia -0.5

Leaders Laggards

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

Financial 37.0 Precious Metals -43.4

Communications 25.1 Pacific/Asia ex-Japan -42.9

Large-cap Blend 23.6 Diversified Pacific/Asia -28.1

Small-cap Value 22.9 Diversified Emerging Mkts. -16.5

Unaligned 22.8 Japan -9.5

All data are as of market close Wednesday, Jan. 21, 1998, 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 Jan. 20. 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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