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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYBears rule. No one escaped the stock market mauling. In a rout triggered bythe Russian financial and economic crisis, the Dow Jones industrials lostnearly 1000 points between Aug. 26 and Aug. 31, dropping to 7539. The Dowbounced back to 7827 on Sept. 1, but after two failed attempts to pierce the7950 barrier on Sept. 2, stocks plunged to close at 7782. For the week, theDow shed 8.7% and wiped out 1998's gain. The S&P 500, still in the black forthe year, lost 8.6%. One bright spot: Investors bought Treasury bonds andbills, pushing interest rates down.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7782.4 -8.7 -1.4

NASDAQ Combined Composite 1592.9 -9.9 -1.6

S&P MidCap 400 293.9 -7.8 -8.1

S&P SmallCap 600 148.4 -7.6 -16.9

S&P SuperComposite 1500 208.4 -8.6 4.2

% change

SECTORS Latest Week Year

Bloomberg Information Age 326.2 -9.0 10.8

S&P Financials 109.7 -9.8 2.6

S&P Utilities 232.3 -3.3 15.2

PSE Technology 300.3 -10.5 -9.6

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5235.8 -5.6 5.2

Frankfurt (DAX) 4970.5 -5.0 21.1

Tokyo (NIKKEI 225) 14,376.6 -3.3 -23.3

Hong Kong (Hang Seng) 7355.7 -6.1 -50.0

Toronto (TSE 300) 5682.5 -7.9 -15.2

Mexico City (IPC) 3178.6 -2.3 -35.0

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.58% 1.44% 1.63%

S&P 500 P/E Ratio (Last 12 mos.) 22.8 26.4 23.5

S&P 500 P/E Ratio (Next 12 mos.)* 24.4 24.4 18.5

First Call Earnings Revision* -3.78% -3.26% -0.87%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1059.9 1057.3 Negative

Stocks above 200-day average 15.0% 26.0% Positive

Options: Put/call ratio 0.81 0.66 Positive

Insiders: Vickers Sell/buy ratio 1.03 1.09 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Food Chains 6.2 Broadcasting 62.3

Electric Companies 3.8 Drug Chains 50.6

Drug Chains -2.5 Long-Dist. Telecomms. 45.3

Tobacco -3.1 Drugs 44.8

Specialty Chemicals -3.7 Communications Equip. 41.4

WORST-PERFORMING Last Last 12

GROUPS month% months%

HMOs -37.7 Metals -56.2

Invest. Banking/Brkrge. -29.5 Oil & Gas Drilling -56.1

Shoes -28.5 Gold Mining -47.7

Money Center Banks -26.7 Oil Exploration & Prod. -45.6

Metal & Glass Containers -25.2 Shoes -45.6

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Intel 76 -8 13/16

Citicorp 106 5/8 -57

America Online 85 -31

IBM 117 15/16 -14 13/16

General Electric 82 11/16 -6 13/16

BankAmerica 64 1/2 -24 3/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Home Depot 41 1/4 5/16

Conagra 26 3/8 3/8

Phillips Petroleum 43 11/16 3/4

Albertson's 50 3/8 1 7/8

Adaptec 11 1/2 1/2

GPU 37 1/8 3/4

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.11 5.10 5.16

90-DAY TREASURY BILLS 4.88 5.06 5.14

6-MONTH BANK CDS 5.05 5.06 5.17

1-YEAR TREASURY BILLS 4.90 5.16 5.57

10-YEAR TREASURY NOTES 5.07 5.26 6.33

30-YEAR TREASURY BONDS 5.33 5.44 6.60

LONG-TERM AA INDUSTRIALS 6.28 6.21 7.10

LONG-TERM BBB INDUSTRIALS 6.88 6.69 7.47

LONG-TERM AA TELEPHONES 6.65 6.55 7.36

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 4.24% 4.27% 4.88% 4.86%

PERCENT OF TREASURIES 83.60 82.12 91.42 89.66

TAXABLE EQUIVALENT 6.14 6.19 7.07 7.04

INSURED REVENUE BONDS 4.42 4.44 5.05 5.06

PERCENT OF TREASURIES 87.15 85.39 94.61 93.35

TAXABLE EQUIVALENT 6.41 6.43 7.32 7.33

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Prudent Bear 21.2 Lexington Troika Russia -60.4

ProFunds UltraBear Investor 11.9 Vontobel Eastern Europ Eq. -41.1

Comstock Part. Cap. Val. R 9.6 American Heritage -40.5

Comstock Part. Strategy O 6.9 Invesco Latin American Gr. -38.1

Rydex Ursa 6.6 Excelsior Latin America -36.5

Leaders Laggards

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

Smith Barney Telecomms. Inc. 45.8 Lexington Troika Russia -87.3

Weitz Hickory 39.9 Guinness Flgt. Asia Sm. Cap -71.4

Icon Telecomms. & Utilities 35.8 U.S. Global Inv. China Reg. -69.6

Caldwell & Orkin Mkt. Opp. 32.6 Montgomery Emerg. Asia R -69.2

Flag Investors Communs. A 32.5 Lex. Crosby Sm. Cap Asia -68.9

EQUITY FUND CATEGORIES

Leaders Laggards

Utilities -3.5 Latin America -30.4

Japan -5.0 Diversified Emerging Mkts. -25.0

Domestic Hybrid -5.2 Precious Metals -17.8

International Hybrid -5.6 Small-cap Growth -15.5

Real Estate -7.2 Small-cap Blend -15.1

Leaders Laggards

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

Utilities 17.5 Pacific/Asia ex-Japan -55.0

Communications 13.9 Precious Metals -49.5

Europe 12.7 Latin America -46.5

Large-cap Growth 8.9 Diversified Emerging Mkts. -45.9

Large-cap Blend 6.0 Diversified Pacific/Asia -41.1

All data are as of market close Wednesday, Sept. 2, 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 Sept. 1. 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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