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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY

An upbeat week in the U.S. equity markets. The Dow Jones industrial average broke above the 8500 mark on Feb. 27 and climbed to a record high of 8585 on Mar. 3. Expectations of buoyant consumer spending drove share prices, with retailers, builders, and entertainment companies particularly vibrant. But the strong economy sent bond prices falling, with yields climbing to 12-week highs. Bond traders were troubled by new-home sales figures that showed a stronger-than-expected gain. % change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8539.2 1.0 22.9

NASDAQ Combined Composite 1759.7 -0.4 32.4

S&P MidCap 400 353.9 1.1 33.4

S&P SmallCap 600 193.9 0.6 32.6

S&P SuperComposite 1500 224.9 0.5 30.9

% change

SECTORS Latest Week Year

Bloomberg Information Age 323.8 -2.2 32.8

S&P Financials 125.5 0.0 33.6

S&P Utilities 233.2 0.4 18.1

PSE Technology 333.1 -1.2 26.8

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5733.1 -0.2 31.5

Frankfurt (DAX) 4709.6 1.6 40.0

Tokyo (NIKKEI 225) 17,095.6 4.5 -6.4

Hong Kong (Hang Seng) 11,350.8 4.3 -15.4

Toronto (TSE 300) 7142.8 2.0 15.1

Mexico City (IPC) 4804.1 1.3 27.7

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.45% 1.48% 1.85%

S&P 500 P/E Ratio (Last 12 mos.) 26.4 25.2 21.0

S&P 500 P/E Ratio (Next 12 mos.)* 20.5 20.1 16.6

First Call Earnings Revision* -2.49% -2.77% -1.69%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 940.2 934.9 Positive

Stocks above 200-day average 68.0% 65.0% Neutral

Options: Put/call ratio 0.50 0.54 Negative

Insiders: Vickers Sell/buy ratio 1.61 1.56 Positive

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.13 5.14 4.96

90-DAY TREASURY BILLS 5.14 5.31 5.21

6-MONTH BANK CDS 5.06 5.03 5.00

1-YEAR TREASURY BILLS 5.41 5.43 5.71

10-YEAR TREASURY NOTES 5.72 5.63 6.60

30-YEAR TREASURY BONDS 6.02 5.93 6.85

LONG-TERM AA INDUSTRIALS 6.65 6.54 7.30

LONG-TERM BBB INDUSTRIALS 7.08 6.95 7.64

LONG-TERM AA TELEPHONES 6.95 6.83 7.52

BEST-PERFORMING Last Last 12

GROUPS month% months%

HMOs 22.7 Manufactured Housing 83.3

Manufactured Housing 18.2 Broadcasting 81.6

Apparel Manufacturing 17.5 Specialty Appar. Retailers 79.4

Engineering & Constr. 15.1 Airlines 75.7

Automobiles 14.6 Homebuilding 75.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Transportation Services -4.2 Metals -38.3

Semiconductors -2.9 Shoes -35.6

Aluminum -2.4 Gold Mining -35.5

Pollution Control -1.6 Engineering & Constr. -22.2

Leisure Time -0.7 Photography/Imaging -22.1

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

AT&T 62 1/16 -1 15/16

Micron Technology 33 5/8 -4 3/8

Sun Microsystems 45 5/16 -3 11/16

Warner-Lambert 151 7/8 -4 5/16

Teleport Communications Group 55 1/8 -1 7/8

Gateway 2000 40 1/4 - 5/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 84 1/2 6 3/32

Dell Computer 131 1/8 23 1/2

WorldCom 38 15/16 2 3/8

Pfizer 87 5 5/8

PeopleSoft 43 3/4 3 15/16

Network Associates 63 3/4 5 5/8

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 4.43% 4.35% 5.02% 4.94%

PERCENT OF TREASURIES 77.05 77.52 83.10 83.48

TAXABLE EQUIVALENT 6.42 6.30 7.28 7.16

INSURED REVENUE BONDS 4.59 4.47 5.24 5.15

PERCENT OF TREASURIES 79.83 79.66 86.74 87.05

TAXABLE EQUIVALENT 6.65 6.48 7.59 7.46

EQUITY FUNDS

Leaders Laggards

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

Montgomery Gl. Commun. R 17.1 American Heritage -10.6

Fidelity Sel. Energy Serv. 14.0 Oppenheimer Real Asset B -7.3

DFA Pacific Rim Small Co. 13.7 American Heritage Growth -6.7

Lex. Crosby Sm. Cap Asia 13.1 Comstock Part. Cap. Val. B -6.0

U.S. Global Inv. China Reg. 13.0 U.S. Global Investors Gold -5.4

Leaders Laggards

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

Munder Micro-Cap Equity Y 68.4 Midas -61.8

Delaware Aggressive Gr. A 66.1 U.S. Global Investors Gold -61.2

Fidelity Sel. Energy Serv. 63.6 Bull & Bear Gold Investors -59.2

Fidelity Select Air Trans. 61.8 Invesco Strategic Gold -58.4

Texas Capital Val. & Grth. 59.9 Gabelli Gold -51.8

EQUITY FUND CATEGORIES

Leaders Laggards

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

Europe 7.3 Real Estate -1.1

Unaligned 6.7 Japan -0.2

Communications 6.5 Precious Metals 0.0

Small-cap Blend 6.2 Diversified Pacific/Asia 1.9

Mid-cap Growth 5.8 International Hybrid 2.1

Leaders Laggards

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

Financial 40.0 Precious Metals -43.8

Communications 39.8 Pacific/Asia ex-Japan -34.2

Unaligned 34.2 Diversified Pacific/Asia -22.7

Large-cap Growth 33.0 Diversified Emerging Mkts. -11.6

Small-cap Blend 32.5 Japan -5.8

All data are as of market close Wednesday, Mar. 4, 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 Mar. 3. 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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