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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

STOCKSCOMMENTARYAn encouraging week in the financial markets. The Dow Jones industrial averageclimbed 257 points to 8154.4 on Sept. 23. Investors were buoyed by comments byFederal Reserve Chairman Alan Greenspan, who seemed to hint that he may pushfor lower interest rates. Financial stocks advanced, with Citicorp and J.P.Morgan among the top gainers. The rally on Sept. 23 followed gains in theBritish, Latin American, and German markets. Internet stocks were alsogainers, and the dollar rose.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 8154.4 0.8 3.1

NASDAQ Combined Composite 1760.3 4.2 4.3

S&P MidCap 400 318.7 2.2 -3.3

S&P SmallCap 600 157.1 3.3 -15.5

S&P SuperComposite 1500 224.4 2.0 10.0

% change

SECTORS Latest Week Year

Bloomberg Information Age 364.5 3.5 21.2

S&P Financials 116.9 1.0 4.8

S&P Utilities 253.3 1.6 22.9

PSE Technology 334.9 4.3 -1.2

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5214.7 -1.5 2.7

Frankfurt (DAX) 4699.4 -3.3 14.6

Tokyo (NIKKEI 225) 13,789.8 -2.9 -25.1

Hong Kong (Hang Seng) 7504.4 -4.5 -47.2

Toronto (TSE 300) 6015.1 1.8 -14.2

Mexico City (IPC) 3902.2 14.3 -25.1

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.54% 1.52% 1.59%

S&P 500 P/E Ratio (Last 12 mos.) 24.4 24.7 24.1

S&P 500 P/E Ratio (Next 12 mos.)* 19.8 19.9 19.0

First Call Earnings Revision* -5.87% -5.20% -1.48%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1063.9 1062.0

Positive

Stocks above 200-day average 20.0% 18.0%

Positive

Options: Put/call ratio 0.67 0.73 Neutral

Insiders: Vickers Sell/buy ratio 0.66 0.80

Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

HMOs 23.9 Broadcasting 65.5

Oil Exploration & Prod. 15.8 Drug Chains 63.1

Gold Mining 15.3 Drugs 51.6

Tobacco 8.8 Long-Dist. Telecomms. 50.7

Alcoholic Beverages 8.4 Food Chains 46.6

WORST-PERFORMING Last Last 12

GROUPS month% months%

Machine Tools -27.1 Oil & Gas Drilling -55.3

Metal & Glass Containers -23.9 Leisure Time -47.9

Toys -23.6 Metals -45.7

Soft Drinks -22.8 Machine Tools -38.9

Invest. Banking/Brkge. -22.5 Transportation Services -36.2

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Citicorp 95 1/8 -3 5/16

Intel 83 9/16 -1 1/16

IBM 127 3/4 -13/16

America Online 106 1/8 -2 11/16

BankAmerica 60 3/8 -18 11/16

Telebras-ADR 71 7/8 -12 1/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Dell Computer 60 1/16 1/2

Qwest Communications Intl. 34 1/4 2 55/64

Viacom-B 65 7/16 6 1/4

Adobe Systems 32 3/16 7 3/4

Centocor 40 3/4 1 5/16

Bank of New York 28 13/16 3/8

Data: Bloomberg Financial Markets; *First Call Corp.

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.06 5.09 5.14

90-DAY TREASURY BILLS 4.68 4.74 4.94

6-MONTH BANK CDS 4.86 4.97 5.17

1-YEAR TREASURY BILLS 4.59 4.78 5.46

10-YEAR TREASURY NOTES 4.67 4.88 6.04

30-YEAR TREASURY BONDS 5.17 5.23 6.32

LONG-TERM AA INDUSTRIALS 6.17 6.24 6.77

LONG-TERM BBB INDUSTRIALS 7.04 6.84 7.16

LONG-TERM AA TELEPHONES 6.60 6.70 7.10

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 4.16% 4.22% 4.83% 4.88%

PERCENT OF TREASURIES 89.16 86.64 93.45 93.41

TAXABLE EQUIVALENT 6.03 6.12 7.00 7.07

INSURED REVENUE BONDS 4.33 4.37 5.03 5.05

PERCENT OF TREASURIES 92.81 89.72 97.32 96.66

TAXABLE EQUIVALENT 6.28 6.33 7.29 7.32

Data: Bloomberg Financial Markets

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Guinness Flgt. Mainld. Ch. 17.8 Vontobel Eastern Europ. Eq. -31.9

Fidelity Select Gold 13.0 American Heritage -30.6

Prudent Bear 12.2 Lexington Troika Russia -28.2

Fidelity Sel. Prec. Mets. 11.9 Fidelity Select Brokerage -23.7

Am. Cent. Global Gold 11.9 Montgomery Latin Amer. R -23.0

Leaders Laggards

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

Smith Barney Telecomm. Inc. 40.9 Lexington Troika Russia -88.9

Fidelity Sel. Health Care 31.6 Matthews Korea I -67.6

Janus Twenty 31.1 Guinness Flgt. Asia Sm. Cap -64.9

Flag Investors Communs. A 31.0 Vontobel Eastern Europ. Eq. -64.5

Caldwell & Orkin Mkt. Opp. 30.9 Frontier Equity -63.4

EQUITY FUND CATEGORIES

Leaders Laggards

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

Precious Metals 8.5 Europe -12.2

Natural Resources 0.9 Latin America -11.3

Health 0.1 Foreign -10.0

Pacific/Asia ex-Japan -0.4 Diversified Emerging Mkts. -9.2

Utilities -1.1 World -8.9

Leaders Laggards

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

Utilities 15.8 Pacific/Asia ex-Japan -50.6

Communications 11.1 Latin America -50.6

Large-cap Growth 6.7 Diversified Emerging Mkts. -46.6

Health 3.8 Diversified Pacific/Asia -41.1

Large-cap Blend 3.7 Precious Metals -36.1

Data: Morningstar, Inc.

All data are as of market close Wednesday, Sept. 23, 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. 22. 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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