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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYA week of recovery and consolidation in the financial markets. The Dow Jonesindustrial average, after dipping below 9000 on May 7, staged a rousingcomeback and closed above 9200 for the first time on May 13. U.S. stocks werefueled by optimism that interest rates would remain low. Improved inflationand retail sales reports, meanwhile, helped bond prices, which were on therise on May 12 as well. A drop in the yield of 30-year Treasury bonds below 6%encouraged bond and stock investors.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 9211.8 1.7 26.4

NASDAQ Combined Composite 1866.2 0.5 39.7

S&P MidCap 400 372.7 -0.2 38.1

S&P SmallCap 600 199.9 -0.4 34.9

S&P SuperComposite 1500 239.6 1.1 34.3

% change

SECTORS Latest Week Year

Bloomberg Information Age 352.3 1.1 39.1

S&P Financials 133.7 1.1 40.9

S&P Utilities 237.3 -0.7 22.4

PSE Technology 361.8 0.9 34.4

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5972.9 -0.3 27.4

Frankfurt (DAX) 5376.9 2.8 50.5

Tokyo (NIKKEI 225) 15,343.8 0.7 -24.1

Hong Kong (Hang Seng) 9469.3 -6.3 -33.1

Toronto (TSE 300) 7707.5 0.4 23.4

Mexico City (IPC) 4756.6 -3.5 22.1

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.40 % 1.40 % 1.78 %

S&P 500 P/E Ratio (Last 12 mos.) 26.7 26.7 21.0

S&P 500 P/E Ratio (Next 12 mos.)* 21.7 21.7 17.2

First Call Earnings Revision* -0.97 % -1.01 % NA

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 992.4 989.1 Positive

Stocks above 200-day average 59.0 % 61.0 % Neutral

Options: Put/call ratio 0.58 0.41 Negative

Insiders: Vickers Sell/buy ratio 2.86 3.19 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Computer Systems 25.4 Specialty Appar. Retailers 116.2

Specialty Appar. Retailers 16.7 Broadcasting 98.6

Paper Containers 13.7 Homebuilding 80.4

Semiconductors 11.6 Personal Loans 73.6

Defense Electronics 11.2 Communications Equip. 71.0

WORST-PERFORMING Last Last 12

GROUPS month% months%

Commercial Services -12.7 Metals -37.7

Invest. Banking/Brkrge. -12.6 Gold Mining -18.1

Transportation Services -10.4 Shoes -17.2

Metals -9.8 Photography/Imaging -14.4

Tobacco -7.7 Engineering & Constr. -13.8

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Citicorp 152 1/8 -10 3/16

Chase Manhattan 140 1/2 -5 7/8

Oracle 26 1/16 -2 3/8

BankAmerica 85 -6 1/8

AT&T 57 13/16 -6 1/2

First Chicago NBD 88 5/8 -7 5/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Dell Computer 94 3/8 26 23/32

Cisco Systems 76 3/8 9 7/8

Pfizer 111 13/16 10 11/16

Infoseek 30 1/4 8 11/16

Walt Disney 118 13/16 8 9/16

Washington Mutual 73 25/64 45/64

Data: Bloomberg Financial Markets; *First Call Corp.

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.10 5.09 5.11

90-DAY TREASURY BILLS 5.11 5.11 5.19

6-MONTH BANK CDS 5.09 5.07 5.23

1-YEAR TREASURY BILLS 5.42 5.41 5.86

10-YEAR TREASURY NOTES 5.67 5.67 6.68

30-YEAR TREASURY BONDS 5.94 5.94 6.90

LONG-TERM AA INDUSTRIALS 6.51 6.51 7.40

LONG-TERM BBB INDUSTRIALS 6.94 6.97 7.85

LONG-TERM AA TELEPHONES 6.78 6.78 7.64

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 4.51% 4.52% 5.10% 5.11%

PERCENT OF TREASURIES 79.52 80.00 85.86 86.03

TAXABLE EQUIVALENT 6.54 6.55 7.39 7.41

INSURED REVENUE BONDS 4.66 4.69 5.27 5.30

PERCENT OF TREASURIES 82.17 83.01 88.72 89.23

TAXABLE EQUIVALENT 6.75 6.80 7.64 7.68

EQUITY FUNDS

Leaders Laggards

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

IAI Value 29.3 Matthews Korea I -21.7

American Heritage 14.8 Steadman Technology Grth. -16.9

Fidelity Sel. Computers 13.4 Montgomery Emerg. Asia R -16.9

Fidelity Sel. Energy Serv. 9.9 Invesco Asian Growth -15.3

Pin Oak Aggressive Stock 9.6 Colonial Newport Tiger B -14.9

Leaders Laggards

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

FMI Focus 79.3 Matthews Korea I -58.1

Munder Micro-Cap Equity Y 78.6 U.S. Global Investors Gold -55.4

Weitz Hickory 76.9 Lex. Crosby Sm. Cap Asia -55.2

Delaware Aggressive Gr. A 75.4 Morgan Stan. Asian Grth. C -52.2

Texas Capital Val. & Grth. 72.8 Morg. Stan. Inst. Asia Eq. A -52.1

EQUITY FUND CATEGORIES

Leaders Laggards

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

Technology 3.1 Pacific/Asia ex-Japan -10.1

Natural Resources 1.0 Diversified Pacific/Asia -7.8

Europe 0.8 Latin America -6.5

Health 0.3 Diversified Emerging Mkts. -5.4

Large-cap Growth 0.3 Japan -3.6

Leaders Laggards

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

Communications 46.9 Pacific/Asia ex-Japan -38.9

Financial 44.6 Diversified Pacific/Asia -31.2

Europe 36.3 Precious Metals -30.5

Small-cap Blend 35.5 Japan -20.0

Large-cap Growth 35.1 Diversified Emerging Mkts. -13.1

All data are as of market close Wednesday, May 13, 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 May 12. 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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