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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY

Falling bond prices gave equity investors a tough week. The yield on the 30-year U.S. Treasury bond rose to 5.36%, the highest level in five months. That put selling pressure on stocks. The Dow industrials lost about 2%, the S&P 500 dropped 3.8%, and both are now slightly below their 1998 closing prices. The tech-driven NASDAQ Composite gave up 7.4% over the week, but still has better than a 5% gain for the year. Internet stocks took big hits: Yahoo! fell 20.5%, Amazon.com, 22.5%, and eBay, 23.8%.

STOCKS % change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 9177.3 -2.0 10.4

NASDAQ Combined Composite 2309.5 -7.4 35.2

S&P MidCap 400 358.8 -5.3 4.7

S&P SmallCap 600 162.7 -5.8 -13.6

S&P SuperComposite 1500 256.6 -4.0 17.2

% change

SECTORS Latest Week Year

Bloomberg Information Age 501.6 -6.5 56.1

S&P Financials 124.8 -3.9 2.3

S&P Utilities 240.9 -0.5 5.1

PSE Technology 469.8 -8.3 44.2

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 5770.2 -2.9 2.9

Frankfurt (DAX) 4796.8 -5.7 4.5

Tokyo (NIKKEI 225) 13,952.4 -1.5 -18.9

Hong Kong (Hang Seng) 9076.3 -3.6 -15.9

Toronto (TSE 300) 6400.7 -4.8 -7.8

Mexico City (IPC) 3941.5 -2.9 -16.7

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.30% 1.25% 1.49%

S&P 500 P/E Ratio (Last 12 mos.) 32.2 33.6 25.8

S&P 500 P/E Ratio (Next 12 mos.)* 23.2 24.1 20.0

First Call Earnings Revision* -1.18% -1.23% -9.21%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1123.2 1120.2 Positive

Stocks above 200-day average 31.0% 34.0% Positive

Options: Put/call ratio NA 0.45 NA

Insiders: Vickers Sell/buy ratio 1.35 1.39 Positive

Data: Bloomberg Financial Markets; *First Call Corp.

BEST-PERFORMING Last Last 12

GROUPS month% months%

Cosmetics 16.4 Communications Equip. 88.3

Shoes 12.2 Specialty Appar. Retailers 85.9

Toys 11.6 Computer Systems 73.4

Alcoholic Beverages 9.9 Genl. Merchandise Chains 64.9

Housewares 7.4 Long-Dist.Telecomms. 63.5

WORST-PERFORMING Last Last 12

GROUPS month% months%

Tobacco -22.9 Oil & Gas Drilling -57.4

Hospital Management -17.2 Oil Exploration & Prod. -37.3

Oil & Gas Drillling -16.3 Leisure Time -35.6

Metals -15.9 Hospital Management -35.6

Furnishings & Appliances -15.5 Oil-Well Equip. & Svcs. -34.8

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

America Online 147 15/16 -17 3/16

IBM 162 3/4 -26 1/2

Vodafone Group-ADR 171 1/4 -3 3/4

Lucent Technologies 96 -16 15/16

Ascend Communications 71 3/8 -5 5/16

Micron Technology 65 13/16 -1 7/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Microsoft 160 1/16 12 9/16

Dell Computer 97 13/16 15 13/16

MCI WorldCom 76 3/4 1 3/4

Sun Microsystems 97 5/8 3 5/8

Oracle 54 5/8 7 7/16

Schering-Plough 52 7/8 1/8

INTEREST RATES

Latest Week Year

week% ago% ago%

MONEY MARKET FUNDS 4.60 4.63 5.16

90-DAY TREASURY BILLS 4.47 4.48 5.18

6-MONTH BANK CDS 4.33 4.36 5.09

1-YEAR TREASURY BILLS 4.63 4.59 5.26

10-YEAR TREASURY NOTES 4.93 4.83 5.48

30-YEAR TREASURY BONDS 5.36 5.25 5.83

LONG-TERM AA INDUSTRIALS 6.29 6.20 6.46

LONG-TERM BBB INDUSTRIALS 6.98 6.94 6.91

LONG-TERM AA TELEPHONES 6.57 6.43 6.74

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 4.05% 4.07% 4.84% 4.84%

PERCENT OF TREASURIES 82.14 84.37 90.15 92.15

TAXABLE EQUIVALENT 5.87 5.90 7.01 7.01

INSURED REVENUE BONDS 4.20 4.23 5.11 5.10

PERCENT OF TREASURIES 85.19 87.69 95.18 97.10

TAXABLE EQUIVALENT 6.09 6.13 7.41 7.39

MUTUAL FUNDS

EQUITY FUNDS

Leaders Laggards

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

IAI Value 25.8 Montgomery Emerg. Asia R -22.0

BT Invmnt Latin Am. Eq. 18.7 Amerindo Technology D -20.0

IAI Emerging Growth 16.4 Apex Mid Cap Growth -19.4

Wright EquiFund-Mexico 9.9 Guinness Flight Main China -18.2

Warburg Adv. Japan Sm. Co. 7.9 State St. Res. Glob. Res. C -17.2

Leaders Laggards

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

Internet 253.8 Lexington Troika Russia -80.0

ProFunds UltraOTC Investor 140.8 American Heritage -63.4

Munder NetNet A 120.2 State St. Res. Glob. Res. C -54.3

Grand Prix 119.9 Offitbank Latin Amer. Sel. -53.3

Amerindo Technology D 116.5 Excelsior Latin America -52.0

EQUITY FUND CATEGORIES

Leaders Laggards

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

Japan 1.4 Pacific/Asia ex-Japan -11.5

Latin America 0.3 Precious Metals -6.7

Communications -0.2 Natural Resources -6.3

Large-cap Growth -0.7 Financial -5.9

Health -1.0 Small-cap Blend -5.3

Leaders Laggards

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

Technology 46.7 Latin America -41.6

Communications 42.9 Diversified Emerging Mkts. -28.5

Large-cap Growth 29.0 Natural Resources -26.1

Large-cap Blend 15.6 Pacific/Asia ex-Japan -18.5

Utilities 14.1 Precious Metals -18.4

All data are as of market close Wednesday, Feb. 10, 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 Feb. 9. 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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