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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYAnother record for the Dow industrials. Powered by a strong move into the morecyclical stocks, the Dow gained 1.6% for the week to close at 10,581.4. Strongfirst-quarter earnings--and greater confidence in the global economy--areprompting investors to shift to the grittier, more mundane stocks. That's leftthe Standard & Poor's 500-stock index, dominated by large-cap growth stocks,struggling to keep up. And the tech-heavy NASDAQ index plunged 5.6% on Apr.19, but recovered enough to finish the week down just 0.7%.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 10,581.4 1.6 15.3

NASDAQ Combined Composite 2489.1 -0.7 29.8

S&P MidCap 400 386.7 3.3 1.6

S&P SmallCap 600 170.2 3.6 -17.3

S&P SuperComposite 1500 279.6 0.8 15.3

% change

SECTORS Latest Week Year

Bloomberg Information Age 514.5 -0.9 45.0

S&P Financials 149.8 1.3 7.2

S&P Utilities 247.2 4.6 2.3

PSE Technology 506.8 0.6 40.5

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 6311.0 -2.8 6.4

Frankfurt (DAX) 5163.3 -0.4 -3.7

Tokyo (NIKKEI 225) 16,495.0 -1.6 4.7

Hong Kong (Hang Seng) 12,543.8 6.0 14.3

Toronto (TSE 300) 7019.8 1.0 -10.3

Mexico City (IPC) 5284.5 -0.2 2.3

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.23% 1.19% 1.38%

S&P 500 P/E Ratio (Last 12 mos.) 33.8 35.4 26.9

S&P 500 P/E Ratio (Next 12 mos.)* 24.3 25.3 22.2

First Call Earnings Surprise* 4.54% 5.90% 2.88%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1165.3 1160.9 Positive

Stocks above 200-day average 47.0% 36.0% Neutral

Options: Put/call ratio 0.54 0.47 Negative

Insiders: Vickers Sell/buy ratio 0.84 0.96 Positive

Data: Bloomberg Financial Markets; *First Call Corp.

BEST-PERFORMING Last Last 12

GROUPS month% months%

Hospital Management 43.3 Specialty Appar. Retailers 86.3

Engineering & Constr. 29.6 Communications Equip. 66.9

Furnishings & Appliances 27.5 Long-Dist. Telecomms. 66.5

Diversified Machinery 25.3 Broadcasting 63.5

Machine Tools 24.5 Genl. Merchandise Chains 62.9

WORST-PERFORMING Last Last 12

GROUPS month% months%

Tobacco -16.3 Oil & Gas Drilling -44.3

Health-Care Services -13.2 Manufactured Housing -43.4

Food Chains -12.1 Machine Tools -33.8

Drug Chains -11.9 HMOs -31.4

Cosmetics -11.9 Metal & Glass Containers -29.4

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

America Online 128 11/16 -1 5/16

Vodapone Grp.-ADR 170 9/16 - 7/16

Texas Instruments 100 - 3/4

General Electric 109 5/16 -1 1/16

Merrill Lynch 87 1/2 -2 7/16

EMC 102 3/16 -13 9/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Dell Computer 38 3/16 5/16

Qualcomm 140 5/8 53

Knight/Trimark Group 86 3/4 27 3/4

Inktomi 115 42 1/4

Doubleclick 128 3/16 39 11/16

Yahoo! 171 6

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 4.45 4.46 5.10

90-DAY TREASURY BILLS 4.34 4.30 5.09

6-MONTH BANK CDS 4.35 4.33 5.08

1-YEAR TREASURY BILLS 4.65 4.65 5.41

10-YEAR TREASURY NOTES 5.16 5.13 5.68

30-YEAR TREASURY BONDS 5.52 5.51 5.96

LONG-TERM AA INDUSTRIALS 6.46 6.43 6.55

LONG-TERM BBB INDUSTRIALS 7.09 7.09 7.01

LONG-TERM AA TELEPHONES 6.69 6.66 6.80

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 4.25% 4.24% 4.96% 4.95%

PERCENT OF TREASURIES 82.07 82.74 89.82 89.91

TAXABLE EQUIVALENT 6.16 6.14 7.19 7.17

INSURED REVENUE BONDS 4.35 4.35 5.17 5.17

PERCENT OF TREASURIES 84.00 84.89 93.62 93.90

TAXABLE EQUIVALENT 6.30 6.30 7.49 7.49

EQUITY FUNDS

Leaders Laggards

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

Matthews Korea I 31.8 Eaton Vance Grtr. India B -9.4

Templeton Latin America A 22.3 ProFunds UltraShort OTC Inv. -8.9

HomeState Sel. Bnkg. & Fin. 22.1 Countrywide Aggressive Gr. -6.9

Standish Sm. Cap Eq. Asset 21.6 ProFunds UltraBear Serv. -6.6

Ivy Developing Nations A 20.9 Fidelity Sel. Biotechnology -6.5

Leaders Laggards

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

Internet 298.8 Lex. Troika Dialog Russia -73.7

Amerindo Technology D 161.3 American Heritage -60.0

Munder NetNet A 115.1 Vontobel Eastern Europ. Eq. -50.0

Van Wagoner Technology 111.1 Potomac OTC/Short -46.7

Berkshire Cap. Gr. & Val. 110.5 Safeco Sm. Co. Stock Adv. B -45.3

EQUITY FUND CATEGORIES

Leaders Laggards

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

Latin America 17.3 Health -3.0

Pacific/Asia ex-Japan 14.3 Europe 0.8

Natural Resources 12.9 Large-cap Growth 1.5

Diversified Emerging Mkts. 12.5 International Hybrid 2.1

Real Estate 10.8 Domestic Hybrid 3.0

Leaders Laggards

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

Technology 42.3 Latin America -28.5

Communications 35.4 Small-cap Value -20.5

Japan 27.5 Diversified Emerging Mkts. -19.7

Large-cap Growth 21.7 Precious Metals -18.5

Large-cap Blend 11.8 Small-cap Blend -18.2

All data are as of market close Wednesday, Apr. 21, 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 Apr. 20. 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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