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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

STOCKSCOMMENTARYOne week into the fourth quarter, the market mayhem shows no signs of abating.Even record-low long-term interest rates did not cheer equity investors. TheDowindustrials looked like a sea of strength, down only 1.3% for the week. Therealdamage is in the big technology stocks, which seem finally to have fallen tothebears. The NASDAQ Composite, dominated by Microsoft, Intel, Cisco Systems, andDell Computer, dropped 13.7% for the week. Looking abroad, the only brightspotwas Japan, where stocks rallied and the yen soared.

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 7741.7 -1.3 -4.4

NASDAQ Combined Composite 1462.6 -13.7 -16.0

S&P MidCap 400 285.3 -7.1 -15.7

S&P SmallCap 600 133.7 -11.5 -30.3

S&P SuperComposite 1500 203.6 -5.0 -3.1

% change

SECTORS Latest Week Year

Bloomberg Information Age 324.5 -8.5 4.8

S&P Financials 96.3 -10.0 -17.3

S&P Utilities 266.6 4.3 29.9

PSE Technology 284.1 -11.2 -17.7

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 4828.9 -4.7 -8.2

Frankfurt (DAX) 4087.8 -8.6 -6.0

Tokyo (NIKKEI 225) 13,825.6 3.1 -21.5

Hong Kong (Hang Seng) 7744.7 -1.8 -47.8

Toronto (TSE 300) 5463.4 -2.7 -24.1

Mexico City (IPC) 3375.4 -5.4 -36.3

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.61% 1.52% 1.54%

S&P 500 P/E Ratio (Last 12 mos.) 23.7 25.0 24.5

S&P 500 P/E Ratio (Next 12 mos.)* 19.0 20.3 19.5

First Call Earnings Surprise* 9.05% 1.90% 4.88%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1066.6 1065.8 Negative

Stocks above 200-day average 19.0% 22.0% Positive

Options: Put/call ratio 0.80 0.57 Positive

Insiders: Vickers Sell/buy ratio 0.62 0.65 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Gold Mining 39.5 Drug Chains 40.4

Regional Telephone Cos. 19.0 Regional Telephone Cos. 36.8

Natural Gas 18.4 Genl. Merchandise Chains 36.3

Instrumentation 17.0 Long-Dist. Telecomms. 33.3

Tobacco 16.2 Electric Companies 32.9

WORST-PERFORMING Last Last 12

GROUPS month% months%

Machine Tools -25.6 Oil & Gas Drilling -67.3

Communications Equip. -25.1 Leisure Time -52.8

Invest. Banking/Brkrge. -24.8 Metals -49.6

Hotels & Motels -24.7 Oil-Well Equip. & Svcs. -48.1

Metal & Glass Containers -21.1 Machine Tools -45.6

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Citicorp 85 -13 11/16

Intel 79 5/8 -2 9/32

IBM 119 1/4 -6 11/16

BankAmerica 60 1/8 -3 1/4

Pfizer 89 3/8 -11 5/16

Procter & Gamble 74 1/4 -5 3/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Qwest Communications 31 3/16 1/8

Starbucks 36 15/16 3 11/16

Adobe Systems 32 6 5/16

Goodyear Tire & Rubber 50 13/16 1 1/16

PepsiCo 33 1/8 1 7/16

Iridium World Communications-A 34 5/8 1/4

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 5.02 5.05 5.14

90-DAY TREASURY BILLS 4.12 4.37 5.08

6-MONTH BANK CDS 4.72 4.82 5.18

1-YEAR TREASURY BILLS 4.23 4.41 5.42

10-YEAR TREASURY NOTES 4.40 4.44 6.08

30-YEAR TREASURY BONDS 4.86 4.98 6.36

LONG-TERM AA INDUSTRIALS 5.92 6.03 6.85

LONG-TERM BBB INDUSTRIALS 6.77 6.79 7.21

LONG-TERM AA TELEPHONES 6.38 6.45 7.16

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 3.95% 4.14% 4.63% 4.78%

PERCENT OF TREASURIES 89.99 93.67 95.28 96.04

TAXABLE EQUIVALENT 5.72 6.00 6.71 6.93

INSURED REVENUE BONDS 4.08 4.29 4.83 4.97

PERCENT OF TREASURIES 92.95 97.36 99.39 100.06

TAXABLE EQUIVALENT 5.91 6.22 7.00 7.20

MUTUAL FUNDS

EQUITY FUNDS

EQUITY FUND CATEGORIES

Leaders Laggards

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

Pioneer Gold A 27.0 Kopp Emerging Growth A -21.7

Monterey OCM Gold 27.0 PBHG Tech. & Communs. -21.0

Rydex Precious Metals 26.0 Oberweis Mid-Cap -21.0

PIMCo Precious Metals C 25.5 PBHG Select Equity -20.6

Am. Cent. Global Gold 25.4 PBHG Growth -20.3

Leaders Laggards

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

Smith Barney Telecomm. Inc. 44.6 Lexington Troika Russia -90.2

Berger Balanced 42.4 Frontier Equity -68.9

Icon Telecomms. & Utilities 34.8 Vontobel Eastern Europ. Eq. -65.1

Galaxy II Util. Idx. Retail 32.7 Dreyfus Aggressive Growth -64.3

Principal Utilities A 31.0 Matthews Korea I -64.1

EQUITY FUND CATEGORIES

Leaders Laggards

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

Precious Metals 20.0 Europe -13.7

Latin America 5.1 Technology -12.0

Utilities 4.9 Small-cap Growth -12.0

Natural Resources 2.9 Japan -11.5

Pacific/Asia ex-Japan -0.9 Foreign -11.2

Leaders Laggards

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

Utilities 16.0 Latin America -53.6

Domestic Hybrid -1.1 Diversified Emerging Mkts. -50.2

Large-cap Blend -3.7 Pacific/Asia ex-Japan -50.1

Large-cap Growth -3.8 Diversified Pacific/Asia -42.0

Communications -3.9 Natural Resources -35.1

All data are as of market close Wednesday, Oct. 7, 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 Oct. 6. 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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