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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYIt's the equity market's version of a hat trick: On Feb. 25, inflows into stockmutual funds helped the Dow Jones industrial average, the Standard & Poor's500-stock index, and the NASDAQ Composite all rack up new highs. The tech-heavyNASDAQ rose the most and is up 12.5% for the year. Investors brushed offFederal Reserve Chairman Alan Greenspan's cautionary musings about whetherturmoil in Asia would check inflationary tendencies in the U.S. ReboundingAsian markets made that region's equity funds leaders in four-week total return.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8457.8 0.1 21.1

NASDAQ Combined Composite 1766.5 3.0 31.8

S&P MidCap 400 350.1 1.0 31.4

S&P SmallCap 600 192.7 1.4 32.0

S&P SuperComposite 1500 223.8 1.1 29.7

% change

SECTORS Latest Week Year

Bloomberg Information Age 330.9 2.5 33.8

S&P Financials 125.5 1.1 33.2

S&P Utilities 232.3 0.2 18.2

PSE Technology 337.0 2.3 27.1

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5745.1 0.4 32.7

Frankfurt (DAX) 4635.8 0.2 43.2

Tokyo (NIKKEI 225) 16,360.6 -1.5 -13.9

Hong Kong (Hang Seng) 10,886.7 2.0 -19.6

Toronto (TSE 300) 7002.1 0.8 12.9

Mexico City (IPC) 4740.2 4.2 21.9

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.48 % 1.51 % 1.79 %

S&P 500 P/E Ratio (Last 12 mos.) 25.2 26.1 21.2

S&P 500 P/E Ratio (Next 12 mos.)* 20.1 20.1 17.2

First Call Earnings Revision* -2.77 % -3.43 % -0.71 %

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 934.9 929.6 Positive

Stocks above 200-day average 65.0 % 66.0 % Neutral

Options: Put/call ratio 0.54 0.55 Negative

Insiders: Vickers Sell/buy ratio 1.56 1.58 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

HMOs 28.4 Specialty Appar. Retailers 85.3

Machine Tools 27.0 Broadcasting 73.1

Conglomerates 21.0 Airlines 67.5

Engineering & Constr. 20.6 Manufactured Housing 66.3

Personal Loans 20.6 Homebuilding 66.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Gold -9.3 Gold -40.8

Tobacco -3.5 Metals -40.5

Pollution Control 0.1 Shoes -38.6

Regional Telephone Cos. 0.3 Engineering & Constr. -27.7

Long-Dist. Telecomm. 0.4 Photography/Imaging -24.8

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Sun Microsystems 44 9/16 - 9/16

AMR 124 3/8 - 1/2

BellSouth 59 1/16 - 3/8

American Home Products 89 11/16 - 13/16

SBC Communications 75 1/8 - 13/16

Dow Chemical 87 3/16 -3 9/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 82 1/8 11 1/4

Cisco Systems 64 3/4 8 1/8

Intel 92 3/8 14 11/16

Dell Computer 128 7/16 33 11/16

Oracle 26 3/16 7 1/4

WorldCom 37 15/16 4 13/16

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.14 5.16 4.95

90-DAY TREASURY BILLS 5.29 5.20 5.22

6-MONTH BANK CDS 5.03 5.09 5.01

1-YEAR TREASURY BILLS 5.40 5.27 5.64

10-YEAR TREASURY NOTES 5.61 5.49 6.56

30-YEAR TREASURY BONDS 5.92 5.84 6.80

LONG-TERM AA INDUSTRIALS 6.54 6.46 7.28

LONG-TERM BBB INDUSTRIALS 6.95 6.91 7.61

LONG-TERM AA TELEPHONES 6.83 6.74 7.48

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 4.35% 4.28% 4.94% 4.86%

PERCENT OF TREASURIES 77.52 78.11 83.48 83.34

TAXABLE EQUIVALENT 6.30 6.20 7.16 7.04

INSURED REVENUE BONDS 4.47 4.41 5.15 5.08

PERCENT OF TREASURIES 79.66 80.48 87.05 87.11

TAXABLE EQUIVALENT 6.48 6.39 7.46 7.36

EQUITY FUNDS

Leaders Laggards

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

Guinness Flight Asia Sm. Cap 27.6 Prudent Bear -13.3

U.S. Global Inv. China Reg. 25.7 U.S. Global Investors Gold -12.3

Colonial Newport Gr. China A 25.7 Rydex Precious Metals -11.5

DFA Pacific Rim Small Co. 25.5 Lexington Strat. Invmnts. -11.0

Montgomery Emerg. Asia R 23.2 PIMCo Precious Metals A -10.3

Leaders Laggards

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

Munder Micro-Cap Equity Y 64.5 Midas -62.9

Delaware Aggressive Gr. A 56.4 U.S. Global Investors Gold -62.9

Texas Capital Val. & Gr. 53.2 Bull & Bear Gold Investors -60.7

MFS Strategic Growth A 52.2 Invesco Strategic Gold -60.1

Fidelity Sel. Air Trans. 52.0 Gabelli Gold -54.5

EQUITY FUND CATEGORIES

Leaders Laggards

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

Pacific/Asia ex-Japan 13.6 Precious Metals -6.7

Technology 12.2 Japan -3.8

Mid-cap Growth 8.7 Real Estate -0.9

Small-cap Growth 8.3 Utilities 1.3

Large-cap Growth 8.1 Natural Resources 1.6

Leaders Laggards

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

Financial 35.1 Precious Metals -46.4

Communications 32.0 Pacific/Asia ex-Japan -35.9

Unaligned 29.4 Diversified Pacific/Asia -26.3

Small-cap Value 28.1 Diversified Emerging Mkts. -15.9

Large-cap Growth 27.4 Japan -10.4

All data are as of market close Wednesday, Feb. 25, 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 Feb. 24. 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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