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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

STOCKSCOMMENTARYFed Chairman Alan Greenspan hinted on Sept. 4 that he might lower interestrates to alleviate the global financial crisis. Mulling that over Labor Dayweekend, investors returned on Sept. 8 and started buying again. The Dow Jonesindustrials jumped 380.5 points, nearly 5%, the best one-day gain ever. Thoughit gave back 158.3 points on Sept. 9, the Dow still managed to finish up 1.1%for the week--making it the best week for the blue chips in the last twomonths. Japan and especially Hong Kong, up 7.5%, enjoyed rebounds, butEurope's bourses had mixed results.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7865.0 1.1 1.9

NASDAQ Combined Composite 1624.6 2.0 -0.9

S&P MidCap 400 299.2 1.8 -7.3

S&P SmallCap 600 148.1 -0.2 -18.3

S&P SuperComposite 1500 211.7 1.6 6.6

% change

SECTORS Latest Week Year

Bloomberg Information Age 336.5 3.2 15.0

S&P Financials 106.9 -2.5 -0.1

S&P Utilities 237.6 2.3 17.6

PSE Technology 309.0 2.9 -5.9

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5311.3 1.4 8.3

Frankfurt (DAX) 5040.9 1.4 24.5

Tokyo (NIKKEI 225) 14,755.5 2.6 -21.1

Hong Kong (Hang Seng) 7905.5 7.5 -46.6

Toronto (TSE 300) 5871.8 3.3 -13.3

Mexico City (IPC) 3167.3 -0.4 -34.3

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.54% 1.58% 1.63%

S&P 500 P/E Ratio (Last 12 mos.) 24.3 22.8 23.6

S&P 500 P/E Ratio (Next 12 mos.)* 19.5 18.9r 16.6

First Call Earnings Revision* -4.69% -3.78% -0.44%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1061.0 1059.9 Negative

Stocks above 200-day average 18.0% 15.0% Positive

Options: Put/call ratio 0.58 0.81 Negative

Insiders: Vickers Sell/buy ratio 0.98 1.03 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Electric Companies 5.0 Broadcasting 60.9

International Oil 4.5 Drug Chains 54.7

Food Chains 3.4 Drugs 49.6

Foods 2.7 Long-Dist Telecomms. 49.4

Restaurants 2.3 Specialty Appar. Retailers 45.3

WORST-PERFORMING Last Last 12

GROUPS month% months%

Invest. Banking/Brkrge. -31.5 Oil & Gas Drilling -58.0

Money Center Banks -28.1 Metals -51.0

Leisure Time -22.9 Leisure Time -47.7

Shoes -22.2 Shoes -42.1

Soft Drinks -21.4 Engineering & Constr. -40.9

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Intel 81 29/32 -4 23/32

Citicorp 98 11/16 -53 13/16

Merck 125 1/2 -5/8

America Online 95 1/4 -17 1/2

IBM 125 15/16 -3 15/16

BankAmerica 63 3/8 -19 15/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Dell Computer 59 15/16 4 13/16

American Home Products 52 3/16 15/16

British Petroleum-ADR 80 3/16 4 3/16

Royal Dutch Petroleum-NYS 49 15/16 2 11/16

Kellogg 33 3/8 2 1/4

BMC Software 51 1/4 1/2

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.10 5.11 5.16

90-DAY TREASURY BILLS 4.85 4.91 5.11

6-MONTH BANK CDS 5.05 5.05 5.17

1-YEAR TREASURY BILLS 4.79 4.91 5.61

10-YEAR TREASURY NOTES 4.93 5.10 6.37

30-YEAR TREASURY BONDS 5.27 5.34 6.66

LONG-TERM AA INDUSTRIALS 6.27 6.28 7.12

LONG-TERM BBB INDUSTRIALS 6.80 6.88 7.53

LONG-TERM AA TELEPHONES 6.53 6.65 7.43

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% 4.24% 4.88% 4.88%

PERCENT OF TREASURIES 86.05 83.60 92.67 91.42

TAXABLE EQUIVALENT 6.14 6.14 7.07 7.07

INSURED REVENUE BONDS 4.41 4.42 5.04 5.05

PERCENT OF TREASURIES 89.50 87.15 95.71 94.61

TAXABLE EQUIVALENT 6.39 6.41 7.30 7.32

MUTUAL FUNDS

EQUITY FUNDS

Leaders

Four-week total return %

Guinness Mainland China 23.2

Guinness Flight China 16.5

Prudent Bear 16.4

Newport Greater China A 16.1

U.S. Global Inv. China Reg. 13.9

Laggards

Four-week total return %

Lexington Troika Russia -51.3

Montgomery Latin Amer. R -36.9

Excelsior Latin America -35.7

Invesco Latin American Gr. -35.2

Offitbank Latin Amer. Select -33.3

Leaders

52-week total return %

Smith Barney Telecomms. Inc. 43.3

Weitz Hickory 38.5

Invesco European 35.2

Janus Twenty 34.7

Scudder Greater Europe Gr. 34.0

Laggards

52-week total return %

Lexington Troika Russia -87.9

Guinness Flgt. Asia Sm. Cap -67.3

Lex. Crosby Sm. Cap Asia -65.4

Matthews Korea I -65.1

Montgomery Emerg. Asia R -65.0

EQUITY FUND CATEGORIES

Leaders

Four-week total return %

Pacific/Asia ex-Japan 4.0

Precious Metals 3.1

Japan 1.2

Diversified Pacific/Asia 0.3

Utilities -1.0

Laggards

Four-week total return %

Latin America -28.1

Diversified Emerging Mkts. -15.5

Small-cap Growth -11.5

Small-cap Blend -11.0

Small-cap Value -9.9

Leaders

52-week total return %

Utilities 16.8

Europe 14.6

Communications 14.2

Large-cap Growth 8.8

Large-cap Blend 5.8

Laggards

52-week total return %

Latin America -53.4

Pacific/Asia ex-Japan -52.5

Diversified Emerging Mkts. -47.2

Diversified Pacific/Asia -40.1

Precious Metals -39.6

All data are as of market close Wednesday, Sept. 9, 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.8. For a more detailed explanation, write to us or E-mail

figures@businessweek.com. r=revised **Vanguard Index 500 Fund

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