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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYThe stock market hit another four-bagger this week. The Dow industrials, theS&P 500 stock index, the NASDAQ composite, and the Russell 2000 index allscored new highs. Indeed, early in the trading day on Mar. 25, the Dow wasbooming ahead just 50 points shy of the 9000 barrier, only to sell off a bit.The tech stocks were especially strong, propelled by Microsoft'spre-announcement that earnings would exceed forecasts. A note of caution: TheVickers Sell/buy ratio, a technical indicator shown on this page, is flashingnegative signals.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8872.8 1.1 29.0

NASDAQ Combined Composite 1824.5 2.0 43.8

S&P MidCap 400 368.5 1.0 41.0

S&P SmallCap 600 199.1 1.0 41.0

S&P SuperComposite 1500 236.1 1.4 39.6

% change

SECTORS Latest Week Year

Bloomberg Information Age 338.5 3.7 42.8

S&P Financials 133.9 -0.2 47.4

S&P Utilities 247.9 2.3 28.1

PSE Technology 345.3 1.7 37.3

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5967.8 1.1 38.7

Frankfurt (DAX) 5096.6 3.6 49.1

Tokyo (NIKKEI 225) 16,658.3 0.2 -9.8

Hong Kong (Hang Seng) 11,810.6 6.2 -7.6

Toronto (TSE 300) 7579.2 2.1 23.8

Mexico City (IPC) 4997.1 3.2 30.0

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.36 % 1.43 % 1.86 %

S&P 500 P/E Ratio (Last 12 mos.) 27.7 27.1 20.7

S&P 500 P/E Ratio (Next 12 mos.)* 21.9 21.3 16.6

First Call Earnings Revision* -3.48 % -3.51 % -0.99 %

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 957.4 951.2 Positive

Stocks above 200-day average 67.0 % 66.0 % Neutral

Options: Put/call ratio 0.58 0.54 Negative

Insiders: Vickers Sell/buy ratio 2.52 2.01 Negative

BEST-PERFORMING Last Last 12

GROUPS month% months%

Steel 15.7 Homebuilding 94.1

Pollution Control 14.7 Broadcasting 93.8

Savings & Loans 14.0 Manufactured Housing 88.1

Hospital Management 13.8 Communications Equip. 84.0

Hotels & Motels 13.3 Specialty Appar. Retailers 80.9

WORST-PERFORMING Last Last 12

GROUPS month% months%

Semiconductors -14.3 Shoes -32.7

Drug Chains -3.8 Metals -31.8

Toys -3.2 Gold Mining -28.9

Computer Systems -2.8 Photography/Imaging -13.7

Transportation Services -2.7 Engineering & Constr. -10.4

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

IBM 103 1/2 -1 3/4

Micron Technology 28 11/16 -6 1/16

Compaq Computer 25 9/16 -8 7/16

Sun Microsystems 44 7/8 -1 9/16

Ascend Communications 34 13/16 -1 7/16

Texas Instruments 53 5/16 -7 15/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Dell Computer 65 3/4 25/32

WorldCom 44 7/16 6

Cisco Systems 67 13/16 1 1/16

Pfizer 95 3/8 7

PeopleSoft 50 3/8 6 7/8

Qwest Communications Intl. 39 3/4 3 1/2

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.11 5.12 4.96

90-DAY TREASURY BILLS 5.17 5.17 5.44

6-MONTH BANK CDS 5.07 5.07 5.07

1-YEAR TREASURY BILLS 5.37 5.36 5.91

10-YEAR TREASURY NOTES 5.64 5.58 6.75

30-YEAR TREASURY BONDS 5.94 5.91 6.95

LONG-TERM AA INDUSTRIALS 6.51 6.48 7.45

LONG-TERM BBB INDUSTRIALS 6.98 6.95 7.79

LONG-TERM AA TELEPHONES 6.79 6.78 7.65

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% 4.42% 5.03% 5.02%

PERCENT OF TREASURIES 78.54 79.36 84.64 85.02

TAXABLE EQUIVALENT 6.42 6.41 7.29 7.28

INSURED REVENUE BONDS 4.57 4.54 5.21 5.18

PERCENT OF TREASURIES 81.02 81.51 87.67 87.73

TAXABLE EQUIVALENT 6.62 6.58 7.55 7.51

EQUITY FUNDS

Leaders Laggards

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

Amerindo Technology D 18.2 ProFunds UltraBear Svc -12.6

Fidelity Sel. Energy Serv. 16.8 Frontier Equity -8.3

Smith Barney Telecom. Income 16.6 Merrill Technology D -6.9

Matthews Korea I 14.4 Rydex Ursa -6.5

Weitz Hickory 14.4 Warburg Japan OTC Comm. -5.8

Leaders Laggards

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

Delaware Aggressive Gr. A 98.8 Midas -58.5

Munder Micro-Cap Equity Y 84.8 U.S. Global Investors Gold -57.5

FMI Focus 79.5 Invesco Strategic Gold -54.5

Fidelity Select Brokerage 73.7 Bull & Bear Gold Investors -53.8

Safeco Growth No Load 72.9 Gabelli Gold -48.8

EQUITY FUND CATEGORIES

Leaders Laggards

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

Communications 11.3 Japan -2.1

Latin America 9.8 Real Estate 0.0

Europe 9.2 Diversified Pacific/Asia 1.6

Utilities 8.7 Technology 2.4

Foreign 7.6 International Hybrid 4.0

Leaders Laggards

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

Communications 57.4 Precious Metals -38.5

Financial 48.8 Pacific/Asia ex-Japan -30.1

Large-cap Growth 41.6 Diversified Pacific/Asia -22.1

Small-cap Blend 40.1 Japan -9.4

Unaligned 39.2 Diversified Emerging Mkts. -7.3

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