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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARY

Rather than reap the rewards of a strong economy, stock market investors are losing ground. The same good economic news has pushed interest rates to the levels they were at before last summer's global financial crisis. That makes it difficult if not impossible for equities to move up. In the last week, the Dow Jones industrials gave up 1.3%, the Standard & Poor's 500 lost 2.1%. Tech stocks were hit hard, with the PSE Technology Index losing 6.1%. European bourses also suffered, hurt by slowing economic growth and a weakening euro.

STOCKS % change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 9275.9 -1.3 8.6

NASDAQ Combined Composite 2265.2 -3.2 28.7

S&P MidCap 400 357.3 -1.2 1.0

S&P SmallCap 600 160.0 -1.2 -17.5

S&P SuperComposite 1500 257.1 -2.0 14.3

% change

SECTORS Latest Week Year

Bloomberg Information Age 481.6 -5.5 48.8

S&P Financials 134.6 1.3 7.3

S&P Utilities 237.5 -1.3 1.8

PSE Technology 456.5 -6.1 37.0

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 6048.3 -4.1 5.5

Frankfurt (DAX) 4697.7 -7.2 -0.3

Tokyo (NIKKEI 225) 14,170.4 -1.3 -17.1

Hong Kong (Hang Seng) 9922.4 2.5 -12.6

Toronto (TSE 300) 6180.3 -2.5 -13.5

Mexico City (IPC) 4127.4 -3.3 -14.1

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.30% 1.25% 1.45%

S&P 500 P/E Ratio (Last 12 mos.) 32.4 33.3 26.4

S&P 500 P/E Ratio (Next 12 mos.)* 23.2 24.3 20.5

First Call Earnings Revision* -1.41% -2.09% -2.49%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1132.7 1129.5 Positive

Stocks above 200-day average 29.0% 31.0% Positive

Options: Put/call ratio 0.58 0.61 Negative

Insiders: Vickers Sell/buy ratio 1.21 1.31 Positive

Data: Bloomberg Financial Markets; *First Call Corp.

BEST-PERFORMING Last Last 12

GROUPS month% months%

Insurance Brokers 18.0 Specialty Appar. Retailers 89.8

Leisure Time 13.4 Communications Equip. 76.1

Restaurants 11.0 Restaurants 66.7

Transportation Services 10.6 Computer Systems 61.5

Multiline Insurers 7.2 Genl. Merchandise Chains 61.2

WORST-PERFORMING Last Last 12

GROUPS month% months%

Instrumentation -16.4 Oil & Gas Drilling -59.6

Metal & Glass Containers -15.7 Metal & Glass Containers -45.1

Computer Systems -15.1 Machine Tools -44.2

Semiconductors -15.1 Hospital Management -40.1

Tobacco -14.5 Oil-Well Equip. & Svcs. -37.4

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

America Online 86 11/16 - 1/32

IBM 167 3/4 -7 1/2

Airtouch Communications 90 1/8 -2 7/8

Vodafone Group-ADR 179 11/16 -6 13/16

Lucent Technologies 99 15/16 -10 1/16

Morgan Stanley Dean Witter 90 3/8 -1 3/8

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

MCI WorldCom 80 1/2 2 7/16

Amgen 64 5/32

eBay 117 1/16 24 5/16

Prodigy Communications 35 7/8 7 3/4

Comcast 68 5/8 11/16

Schering-Plough 54 1/4 1/4

INTEREST RATES

Latest Week Year

week% ago% ago%

MONEY MARKET FUNDS 4.53 4.54 5.13

90-DAY TREASURY BILLS 4.59 4.67 5.19

6-MONTH BANK CDS 4.35 4.33 5.06

1-YEAR TREASURY BILLS 4.88 4.85 5.43

10-YEAR TREASURY NOTES 5.39 5.18 5.76

30-YEAR TREASURY BONDS 5.69 5.51 6.05

LONG-TERM AA INDUSTRIALS 6.58 6.40 6.65

LONG-TERM BBB INDUSTRIALS 7.37 7.16 7.08

LONG-TERM AA TELEPHONES 6.80 6.59 6.95

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 4.19% 4.13% 4.98% 4.92%

PERCENT OF TREASURIES 77.85 79.84 87.45 89.36

TAXABLE EQUIVALENT 6.07 5.99 7.22 7.13

INSURED REVENUE BONDS 4.31 4.25 5.23 5.16

PERCENT OF TREASURIES 80.08 82.16 91.84 93.72

TAXABLE EQUIVALENT 6.25 6.16 7.58 7.48

EQUITY FUNDS

Leaders Laggards

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

Lexington Troika Russia 20.4 ProFunds UltraOTC Service -20.0

ProFunds UltraShort OTC Inv. 17.3 IAI Emerging Growth -19.2

Eaton Vance Grtr. India B 13.4 Wasatch Mid-Cap -15.1

American Heritage 13.3 Fidelity Select Electronics -13.8

Rydex Arktos Investor 8.8 Icon Technology -13.4

Leaders Laggards

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

Internet 264.5 Lexington Troika Russia -77.6

Amerindo Technology D 152.8 State St. Res. Glob. Res. B -59.8

Grand Prix 113.7 American Heritage -57.0

ProFunds UltraOTC Investor 104.0 Offitbank Latin Amer. Sel. -55.2

WWW Internet 86.7 Excelsior Latin America -54.3

EQUITY FUND CATEGORIES

Leaders Laggards

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

Financial 1.9 Technology -8.2

Pacific/Asia ex-Japan -0.2 Small-cap Growth -7.4

Unaligned -1.7 Small-cap Blend -6.5

LaTin America -2.0 Small-cap Value -6.1

Large-cap Value -2.0 Mid-cap Growth -5.1

Leaders Laggards

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

Technology 37.3 Latin America -43.0

Communications 35.1 Diversified Emerging Mkts. -31.4

Large-cap Growth 25.9 Natural Resources -30.8

Large-cap Blend 12.5 Pacific/Asia ex-Japan -19.4

Health 10.1 Real Estate -18.5

All data are as of market close Wednesday, Mar. 3, 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 Mar. 2. 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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