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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYA generally dour week in the financial markets turned upbeat on June 23 and24, when the market staged a rousing rally. The Dow Jones industrial averageclimbed over 200 points, closing on June 24 at 8923.9. AT&T's agreement to buyTele-Communications Inc. drove the markets on June 24, while a rally incomputer and software stocks encouraged traders on June 23. The rally cameafter the Dow fell 100 points on June 19, on concerns that U.S. earnings maysuffer if Japan's woes continue.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8923.9 1.1 16.0

NASDAQ Combined Composite 1877.8 5.7 29.8

S&P MidCap 400 357.5 1.3 24.5

S&P SmallCap 600 188.8 1.7 18.8

S&P SuperComposite 1500 240.7 2.2 26.8

% change

SECTORS Latest Week Year

Bloomberg Information Age 352.3 5.2 30.8

S&P Financials 136.3 2.4 33.4

S&P Utilities 244.3 -0.2 24.7

PSE Technology 343.7 5.0 19.9

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5804.9 -0.5 25.1

Frankfurt (DAX) 5779.9 1.2 52.2

Tokyo (NIKKEI 225) 15,123.2 2.8 -26.9

Hong Kong (Hang Seng) 8296.8 3.7 -44.9

Toronto (TSE 300) 7264.4 1.0 11.5

Mexico City (IPC) 4378.3 0.9 -0.4

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.40% 1.43% 1.66%

S&P 500 P/E Ratio (Last 12 mos.) 26.3 25.7 22.8

S&P 500 P/E Ratio (Next 12 mos.)* 21.7 21.1 18.5

First Call Earnings Revision* -1.27% -1.13% -1.30%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1017.5 1012.9 Positive

Stocks above 200-day average 44.0% 44.0% Neutral

Options: Put/call ratio 0.61 0.73 Neutral

Insiders: Vickers Sell/buy ratio 2.18 2.35 Neutral

BEST-PERFORMING Last Last 12

GROUPS month% months%

Homebuilding 16.0 Specialty Appar. Retailers 113.5

Computer Software 15.9 Broadcasting 78.6

Drug Chains 11.7 Homebulding 76.1

Specialty Appar. 11.6 Automobiles 74.9

Retailers

Personal Loans 10.8 Airlines 71.6

WORST-PERFORMING Last Last 12

GROUPS month% months%

Machine Tools -19.9 Metals -44.5

Oil & Gas Drilling -17.4 Gold Mining -28.2

Gold Mining -15.8 Shoes -25.2

Hospital Management -15.6 Leisure Time -21.6

Forest Products -14.9 Hospital Management -20.3

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Citicorp 149 1/8 -3 3/4

IBM 111 3/4 -9 1/4

Wells Fargo 353 1/4 -20 3/8

J.P. Morgan 118 5/16 -11 3/4

Merrill Lynch 91 1/2 - 9/16

GTE 57 1/2 -1 1/2

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 75 1/4 9/16

WorldCom 47 15/16 2 3/16

Cisco Systems 86 7/8 10 7/8

Dell Computer 93 1/8 9 3/16

Microsoft 100 3/4 17 1/8

Tellabs 69 3/8 3 15/16

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.09 5.10 5.15

90-DAY TREASURY BILLS 5.02 5.23 5.07

6-MONTH BANK CDS 5.06 5.07 5.19

1-YEAR TREASURY BILLS 5.39 5.44 5.67

10-YEAR TREASURY NOTES 5.46 5.54 6.45

30-YEAR TREASURY BONDS 5.66 5.74 6.74

LONG-TERM AA INDUSTRIALS 6.27 6.32 7.23

LONG-TERM BBB INDUSTRIALS 6.73 6.79 7.64

LONG-TERM AA TELEPHONES 6.61 6.65 7.47

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 4.39% 4.45% 4.93% 4.98%

PERCENT OF TREASURIES 80.45 80.54 87.19 86.83

TAXABLE EQUIVALENT 6.36 6.45 7.14 7.22

INSURED REVENUE BONDS 4.56 4.58 5.17 5.17

PERCENT OF TREASURIES 83.57 82.90 91.44 90.14

TAXABLE EQUIVALENT 6.61 6.64 7.49 7.49

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

ProFunds UltraOTC Investor 16.5 Pioneer India C -25.5

Amerindo Technology D 15.4 Eaton Vance Grtr. India A -22.2

Managers Capital Apprec. 14.0 Guinness Flgt. Asia Sm. Cap -20.8

Transamerica Prem. Sm. Co. 13.6 Newport Greater China A -20.2

PBHG Select Equity 13.0 Matthews Pacific Tiger I -19.9

Leaders Laggards

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

Delaware Aggressive Gr. A 57.3 Matthews Korea I -70.0

Weitz Hickory 56.1 Lex. Crosby Sm. Cap Asia -64.1

Fidelity Select Retailing 55.3 Morg. Stan. Inst. Asia Eq. A -62.0

Flag Investors Communics. A 51.9 Montgomery Emerg. Asia R -61.8

Fidelity Select Brokerage 50.9 Morgan Stan. Asian Grth. B -61.1

EQUITY FUND CATEGORIES

Leaders Laggards

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

Large-cap Growth 4.3 Pacific/Asia ex-Japan -15.9

Communications 3.4 Precious Metals -13.4

Mid-cap Growth 3.1 Diversified Pacific/Asia -10.9

Technology 3.0 Diversified Emerging Mkts. -10.3

Utilities 2.4 Natural Resources -6.2

Leaders Laggards

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

Communications 35.0 Pacific/Asia ex-Japan -53.1

Financial 31.4 Diversified Pacific/Asia -42.7

Large-cap Growth 29.7 Precious Metals -37.3

Europe 27.4 Diversified Emerging Mkts. -31.8

Utilities 25.7 Japan -29.0

All data are as of market close Wednesday, June 24, 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 June 23, 1998. For a more detailed explanation, write or E-mail

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

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