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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY

The U.S. stock market began the new year with a bang. The Dow Jones industrial average climbed above 9500 for the first time, rising 234 to close at 9545 on Jan. 6. The rise was aided by a flow of cash into stocks from pension funds. The Standard & Poor's 500 and NASDAQ Composite also climbed to new records. The dollar surged, as signs of slower growth boosted the U.S. currency against the new euro. The yen fell against the dollar, reflecting speculation that Japan may sell yen to help exports.

STOCKS

Investment Figures of the Week % change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 9545.0 2.4 20.8

NASDAQ Combined Composite 2320.9 6.4 48.6

S&P MidCap 400 395.1 5.8 21.3

S&P SmallCap 600 178.5 4.0 0.3

S&P SuperComposite 1500 268.4 2.8 29.7

% change

SECTORS Latest Week Year

Bloomberg Information Age 498.3 4.8 69.8

S&P Financials 135.6 2.7 16.8

S&P Utilities 260.4 0.3 14.1

PSE Technology 475.3 6.7 63.5

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 10) 6148.8 3.5 17.7

Frankfurt (DAX) 5443.6 8.2 24.0

Tokyo (NIKKEI 225) 13,468.5 -2.7 -10.4

Hong Kong (Hang Seng) 10,233.8 0.1 7.3

Toronto (TSE 300) 6805.3 5.1 3.3

Mexico City (IPC) 3745.2 -4.4 -24.2

% change

FUNDAMENTALS Latest Week Year

S&P 500 Dividend Yield 1.27% 1.28% 1.59%

S&P 500 P/E Ratio (Last 12 mos.) 32.6 31.9 24.6

S&P 500 P/E Ratio (Next 12 mos.)* 24.2 24.0 19.0

First Call Earnings Surprise* 9.99% 0.60% -4.70%

% change

TECHNICAL INDICATORS Latest Week Year

S&P 500 200-day average 1106.5 1102.8 Positive

Stocks above 200-day average 41.0% 37.0% Neutral

Options: Put/call ratio 0.45 0.44 Negative

Insiders: Vickers Sell/buy ratio 1.25 1.14 Positive

BEST-PERFORMING Last Last 12

GROUPS month% months%

Health-Care Services 26.7 Communications Equip. 23.7

Communications Equip. 124.2 Genl. Merchandise Chains 84.7

Long-Dist. Telecomms. 25.6 Computer Systems 82.8

Specialty Appar. Retailers 115.0 Specialty Appar. Retailers 22.6

Transportation Services 25.5 Computer Software 75.6

WORST-PERFORMING Last Last 12

GROUPS month% months%

Toys -17.2 Oil & Gas Drilling -49.2

Hospital Management - 8.5 Oil-Well Equip. & Svcs. -30.2

Housewares - 4.9 Metals -24.8

Property-Casual. Insurers - 3.9 Leisure Time -24.3

Tobacco - 3.8 Toys -24.0

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Exxon 72 -1

Mobil 85 15/16 -1 7/16

BankAmerica 61 5/16 -2 1/8

Merck 150 3/4 -6 15/16

Chevron 80 7/8 -1 5/16

Telebras-ADR 77 1/4 -11 1/2

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Cisco Systems 96 15/16 16 3/4

Microsoft 146 1/2 12 15/16

MCI WorldCom 74 15/16 11 1/4

Dell Computer 75 1/4 7 5/8

Sun Microsystems 92 9/16 14 3/4

Intel 123 1/4 4 5/16

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 4.75 4.75 5.25

90-DAY TREASURY BILLS 4.44 4.57 5.23

6-MONTH BANK CDS 4.39 4.38 5.20

1-YEAR TREASURY BILLS 4.51 4.61 5.31

10-YEAR TREASURY NOTES 4.71 4.68 5.55

30-YEAR TREASURY BONDS 5.16 5.10 5.80

LONG-TERM AA INDUSTRIALS 6.13 6.11 6.41

LONG-TERM BBB INDUSTRIALS 6.97 6.94 6.74

LONG-TERM AA TELEPHONES 6.43 6.46 6.74

BLOOMBERG MUNI YIELD EQUIVALENTS

Taxable equivalent yields on AAA-rated, tax-exempt municipal bonds,

assuming a 31% federal tax rate.

GENERAL OBLIGATIONS 4.16% 4.15% 4.88% 4.87%

PERCENT OF TREASURIES 88.37 88.65 94.54 95.38

TAXABLE EQUIVALENT 6.03 6.01 7.07 7.06

INSURED REVENUE BONDS 4.29 4.30 5.12 5.13

PERCENT OF TREASURIES 91.14 91.85 99.19 100.47

TAXABLE EQUIVALENT 6.22 6.23 7.42 7.43

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

Millennium Growth 39.2 ProFunds UltraShort OTC Inv. -23.8

ProFunds UltraOTC Investor 280 American Heritage -22.2

Matthews Korea I 27.0 Potomac OTC/Short -12.1

Amerindo Technology D 24.0 Montgomery Latin Amer. R -12.0

WM Growth S 21.6 ProFunds UltraBear Inv. -9.9

Leaders Laggards

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

Internet 202.0 Lexington Troika Russia -83.3

ProFunds UltraOTC Investor 191.3 American Heritage -63.2

Matthews Korea I 109.5 Potomac OTC/ShOrt -54.2

Potomac OTC Plus 107.9 Montgomery Latin Amer. R -53.4

Dreyfus Technology Growth 99.1 Excelsior Latin America -48.1

EQUITY FUND CATEGORIES

Leaders Laggards

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

Communications 12.4 Latin America -3.1

Technology 11.3 Japan 0.1

Europe 9.9 Real Estate 0.9

Mid-cap Growth 8.8 Pacific/Asia ex-Japan 1.1

Large-cap Growth 8.4 Natural Resources 1.6

Leaders Laggards

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

Technology 48.2 Latin America -39.8

Communications 46.5 Diversified Emerging Mkts. -25.3

Large-cap Growth 35.9 Natural Resources -22.4

Large-cap Blend 22.5 Real Estate -14.8

Europe 21.3 Precious Metals - 8.1

All data are as of market close Wednesday, Jan. 6, 1999, 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 Jan. 5. 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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