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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY

Investors went bargain-hunting during a tumultuous week. Stocks slumped after Intel Corp. warned that first-quarter earnings would be below analysts' expectations. The next day, Compaq chimed in with similar news. This time around, however, investors responded to the market's dip by pursuing companies seen as market laggards. The Dow Jones industrial average closed above 8600 for the first time on Mar. 10 and ended the week at 8675.8. The Standard & Poor's 500-stock index gained 2.0%, at 1068.5. The NASDAQ composite fell just 0.2%. % change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8675.8 1.6 23.2

NASDAQ Combined Composite 1756.9 -0.2 34.7

S&P MidCap 400 360.2 1.8 35.4

S&P SmallCap 600 195.5 0.9 33.1

S&P SuperComposite 1500 229.3 1.9 33.1

% change

SECTORS Latest Week Year

Bloomberg Information Age 319.8 -1.2 34.9

S&P Financials 129.6 3.3 36.2

S&P Utilities 237.5 1.8 22.3

PSE Technology 331.6 -0.5 29.3

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5829.8 1.7 31.8

Frankfurt (DAX) 4832.8 2.6 41.5

Tokyo (NIKKEI 225) 16,756.1 -2.0 -7.8

Hong Kong (Hang Seng) 11,118.8 -2.0 -15.2

Toronto (TSE 300) 7345.8 2.8 17.4

Mexico City (IPC) 4742.3 -1.3 26.2

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.44 % 1.45 % 1.81 %

S&P 500 P/E Ratio (Last 12 mos.) 26.5 26.4 21.4

S&P 500 P/E Ratio (Next 12 mos.)* 20.9 20.5 17.1

First Call Earnings Revision* -3.88 % -2.49 % -0.93 %

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 945.6 940.2 Positive

Stocks above 200-day average 67.0 % 68.0 % Neutral

Options: Put/call ratio 0.57 0.50 Negative

Insiders: Vickers Sell/buy ratio 1.69 1.61 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

HMOs 22.2 Specialty Appar. Retailers 83.7

Genl. Merchandise Chains 16.9 Broadcasting 82.1

Shoes 16.3 Homebuilding 80.6

Building Materials 15.8 Airlines 74.3

Engineering & Constr. 15.1 Manufactured Housing 73.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Semiconductors -9.5 Metals -39.2

Computer Systems -6.1 Gold Mining -33.4

Photography/Imaging -4.4 Shoes -29.2

Oil & Gas Drilling -1.3 Photography/Imaging -27.2

Aluminum -1.2 Engineering & Constr. -24.7

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

IBM 97 1/2 -5 3/16

Micron Technology 34 -3 3/8

MCI Communications 46 -2 3/16

Texas Instruments 53 -3 3/8

Wells Fargo 321 -6 1/8

Sun Microsystems 42 7/16 -3 5/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 81 1/2 2 1/32

Dell Computer 65 3/16 10 1/16

WorldCom 37 7/8 1/16

Pfizer 87 7/8 4 3/16

PeopleSoft 48 5/16 5 15/16

Qwest Communications Intl. 37 1 1/4

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.13 5.13 4.95

90-DAY TREASURY BILLS 5.07 5.19 5.21

6-MONTH BANK CDS 5.08 5.06 5.03

1-YEAR TREASURY BILLS 5.34 5.43 5.71

10-YEAR TREASURY NOTES 5.63 5.76 6.60

30-YEAR TREASURY BONDS 5.94 6.05 6.87

LONG-TERM AA INDUSTRIALS 6.51 6.65 7.38

LONG-TERM BBB INDUSTRIALS 6.98 7.08 7.71

LONG-TERM AA TELEPHONES 6.82 6.95 7.55

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 4.44% 4.43% 5.04% 5.02%

PERCENT OF TREASURIES 78.86 77.05 84.89 83.10

TAXABLE EQUIVALENT 6.43 6.42 7.30 7.28

INSURED REVENUE BONDS 4.58 4.59 5.24 5.24

PERCENT OF TREASURIES 81.35 79.83 88.26 86.74

TAXABLE EQUIVALENT 6.64 6.65 7.59 7.59

EQUITY FUNDS

Leaders Laggards

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

Lexington Troika Russia 12.8 Lexington Strat. Invmnts. -10.9

Fidelity Sel. Medical Del. 10.6 Oppenheimer Real Asset B -9.3

Safeco Small Co. Stk. NoLd. 10.6 Lexington Strat. Silver -9.2

Firstar MicroCap Instl. 10.4 American Heritage -8.9

Yacktman Focused 10.0 U.S. Global Investors Gold -7.1

Leaders Laggards

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

Munder Micro-Cap Eqty. Y 69.4 Midas -60.8

Delaware Aggressive Gr. A 69.4 U.S. Global Investors Gold -60.0

MFS Strategic Growth I 59.8 Bull & Bear Gold Investors -58.1

Fidelity Select Air Trans. 58.2 Invesco Strategic Gold -57.6

MFS Mass. Inv. Grth. Stk. A 56.9 Merrill Emerging Tigers B -51.1

EQUITY FUND CATEGORIES

Leaders Laggards

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

Europe 7.0 Japan -3.3

Communications 6.3 Precious Metals -2.9

Unaligned 5.6 Real Estate -2.4

Financial 5.2 Diversified Pacific/Asia -2.2

Large-cap Value 4.5 Pacific/Asia ex-Japan -0.7

Leaders Laggards

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

Communications 40.2 Precious Metals -41.7

Financial 37.1 Pacific/Asia ex-Japan -35.8

Unaligned 33.0 Diversified Pacific/Asia -24.7

Large-cap Growth 31.5 Diversified Emerging Mkts. -12.8

Small-cap Value 30.3 Japan -6.6

All data are as of market close Wednesday, Mar. 11, 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 Mar. 10. For a more detailed explanation, write to us or E-mail

figures@businessweek.com. NA=Not available **Vanguard Index 500 Fund

Data: Morningstar, Inc.

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