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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYOne for the record books. The first quarter wound up on Mar. 31 with the Dowindustrials slightly under 8800, up 13.1%, and the S&P 500 at nearly 1102, up13.5%. Driven by the big tech stocks, the NASDAQ Composite logged 16.9% toreach a new high. All told, 1998's first quarter was the best since 1987's.The rally rolled into the new quarter as well. The S&P and the NASDAQ indexeswent on to make new highs on Apr. 1. The Dow gained 69 points that day, too,but it's still 40 shy of a new high.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8868.3 -0.1 36.1

NASDAQ Combined Composite 1847.7 1.3 53.8

S&P MidCap 400 372.5 1.1 49.5

S&P SmallCap 600 202.9 1.9 50.1

S&P SuperComposite 1500 237.7 0.7 48.0

% change

SECTORS Latest Week Year

Bloomberg Information Age 340.7 0.6 52.2

S&P Financials 132.9 -0.7 57.6

S&P Utilities 246.2 -0.7 30.5

PSE Technology 351.9 1.9 47.8

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 6017.6 0.8 42.0

Frankfurt (DAX) 5154.2 1.1 56.1

Tokyo (NIKKEI 225) 16,241.7 -2.5 -10.0

Hong Kong (Hang Seng) 11,331.4 -4.1 -6.6

Toronto (TSE 300) 7527.9 -0.7 28.7

Mexico City (IPC) 4999.1 0.0 34.5

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.41% 1.36% 1.94%

S&P 500 P/E Ratio (Last 12 mos.) 27.8 27.7 19.9

S&P 500 P/E Ratio (Next 12 mos.)* 21.5 21.9 15.9

First Call Earnings Revision* -3.43% -3.48% NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 963.0 957.4 Positive

Stocks above 200-day average 66.0% 67.0% Neutral

Options: Put/call ratio 0.53 0.58 Negative

Insiders: Vickers Sell/buy ratio 2.62 2.52 Negative

BEST-PERFORMING Last Last 12

GROUPS month% months%

Soft Drinks 18.5 Homebuilding 109.4

Pollution Control 18.0 Broadcasting 105.3

Office Equip. & Supplies 17.8 Communications Equip 97.0

Restaurants 13.7 Specialty Appar. Retailers 94.3

Invest. Banking/Brkrge. 13.1 Personal Loans 93.0

WORST-PERFORMING Last Last 12

GROUPS month% months%

Tobacco -8.1 Metals -29.6

Semiconductors -5.2 Shoes -27.9

Toys -4.1 Gold Mining -21.5

Computer Systems -3.3 Photography/Imaging -6.6

Manufactured Housing -3.1 Engineering & Constr. -5.7

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Lockheed Martin 112 1/2 -3

Micron Technology 29 1/16 -5 5/16

General Motors 67 3/4 -3 1/8

Chevron 80 5/16 -2 1/4

Compaq Computer 25 7/8 -5 1/4

W.R. Grace 83 11/16 -1/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 89 1/2 6 3/16

WorldCom 43 1/16 4 5/16

Pfizer 99 11/16 11 7/8

Cisco Systems 68 3/8 3 1/8

PeopleSoft 52 5/8 8 7/16

Costco 53 3/8 3 5/8

Data: Bloomberg Financial Markets; *First Call Corp.

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.11 5.11 5.01

90-DAY TREASURY BILLS 5.10 5.18 5.30

6-MONTH BANK CDS 5.05 5.07 5.13

1-YEAR TREASURY BILLS 5.35 5.40 5.98

10-YEAR TREASURY NOTES 5.58 5.64 6.88

30-YEAR TREASURY BONDS 5.88 5.94 7.08

LONG-TERM AA INDUSTRIALS 6.45 6.51 7.56

LONG-TERM BBB INDUSTRIALS 6.93 6.98 7.94

LONG-TERM AA TELEPHONES 6.74 6.79 7.77

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 4.45% 4.43% 5.05% 5.03%

PERCENT OF TREASURIES 78.63 78.54 85.02 84.64

TAXABLE EQUIVALENT 6.45 6.42 7.32 7.29

INSURED REVENUE BONDS 4.59 4.57 5.24 5.21

PERCENT OF TREASURIES 81.10 81.02 88.22 87.67

TAXABLE EQUIVALENT 6.65 6.62 7.59 7.55

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Amerindo Technology D 16.3 DFA Japanese Small Co. -12.3

Weitz Hickory 13.5 Capstone New Zealand -9.6

First Eagle International Y 12.2 Fidelity Japan Small Co. -9.4

Calvert New Africa A 11.8 Japan -8.9

Smith Barney Telecom. Inc. 11.4 Barr Rosenberg Japan Instl. -7.8

Leaders Laggards

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

Delaware Aggressive Gr. A 103.1 U.S. Global Investors Gold -55.2

Munder Micro-Cap Equity Y 88.1 Midas -51.9

FMI Focus 85.1 Merrill Emerging Tigers B -47.2

Fidelity Select Brokerage 85.1 Bull & Bear Gold Investors -47.0

MAS Mid Cap Growth Instl. 77.3 Morgan Stan. Asian Grth. C -46.0

EQUITY FUND CATEGORIES

Leaders Laggards

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

Communications 8.1 Japan -5.9

Utilities 6.3 Diversified Pacific/Asia -3.1

Precious Metals 6.2 Pacific/Asia ex-Japan -0.2

Europe 5.9 Natural Resources 1.7

Small-cap Growth 5.1 Real Estate 2.4

Leaders Laggards

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

Communications 61.5 Precious Metals -32.3

Financial 56.2 Pacific/Asia ex-Japan -30.4

Large-cap Growth 47.3 Diversified Pacific/Asia -22.7

Small-cap Blend 44.1 Japan -10.2

Unaligned 42.9 Diversified Emerging Mkts. -7.4

Data: Morningstar, Inc.

All data are as of market close Wednesday, Apr. 1, 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. 31. 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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