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Investment Figures Of The Week


Investment Figures of the Week

Investment Figures of the Week

COMMENTARYCan Dow 11,000 be far away? Heck, it's only a month since the Dow scaled10,000, and it's on a tear. Fueled by better-than-expected earnings from thebig industrial companies that dominate the Dow, the closely watched marketbarometer gained 2.5% for the week to close at a new high of 10,0845.5 on Apr.28. The Standard & Poor's 500-stock index hit a high of 1362.8 on Apr. 27, butpulled back. Mid-cap and small-cap stocks are also doing better, evidence ofthe broadening of the bull market. Mid-caps gained 2.3% for the week, andsmall-caps, 1.3%.STOCKS

% change

U.S. MARKETS Latest Week Year

Dow Jones Industrials 10,845.5 2.5 21.2

NASDAQ Combined Composite 2550.4 2.5 37.7

S&P MidCap 400 395.6 2.3 6.8

S&P SmallCap 600 172.3 1.3 -13.5

S&P SuperComposite 1500 282.9 1.2 20.4

% change

SECTORS Latest Week Year

Bloomberg Information Age 529.9 3.0 53.5

S&P Financials 149.9 0.1 13.2

S&P Utilities 249.9 1.1 5.8

PSE Technology 519.2 2.5 45.7

% change

FOREIGN MARKETS Latest Week Year

London (FT-SE 100) 6598.8 4.6 13.1

Frankfurt (DAX) 5348.6 3.6 4.7

Tokyo (NIKKEI 225) 16,942.2 2.7 10.0

Hong Kong (Hang Seng) 13,133.4 4.7 25.4

Toronto (TSE 300) 7101.1 1.2 -6.7

Mexico City (IPC) 5458.2 3.3 8.5

Week Year

FUNDAMENTALS Latest ago ago

S&P 500 Dividend Yield 1.18% 1.23% 1.43%

S&P 500 P/E Ratio (Last 12 mos.) 34.1 33.8 25.9

S&P 500 P/E Ratio (Next 12 mos.)* 25.6 24.3 21.4

First Call Earnings Surprise* 4.59% 4.54% 2.65%

Week

TECHNICAL INDICATORS Latest ago Reading

S&P 500 200-day average 1170.1 1165.3 Positive

Stocks above 200-day average 51.0% 47.0% Neutral

Options: Put/call ratio 0.41 0.54 Negative

Insiders: Vickers Sell/buy ratio 0.81 0.84 Positive

Data: Bloomberg Financial Markets; *First Call Corp.

BEST-PERFORMING Last Last 12

GROUPS month% months%

Aluminum 40.0 Specialty Appar. Retailers 86.4

Diversified Machinery 30.8 Broadcasting 85.5

Machine Tools 30.0 Communications Equip. 80.6

Heavy-Duty Trucks 27.8 Genl. Merchandise Chains 74.0

Hospital Management 26.8 Long-Dist. Telecomms. 68.7

WORST-PERFORMING Last Last 12

GROUPS month% months%

Food Wholesalers -22.4 Manufactured Housing -42.7

Cosmetics -13.5 Oil & Gas Drilling -33.0

Tobacco -12.9 Engineering & Constr. -29.9

Manufactured Housing -11.7 Hospital Management -29.6

Drugs -11.2 Machine Tools -29.6

BLOOMBERG MONEY FLOW ANALYSIS

Rebound ahead? Stocks with most 1-month

significant buying on price weakness Price change

Procter & Gamble 93 9/16 -7 9/16

EMC 116 3/8 -13 1/4

Merrill Lynch 88 13/16 -1 7/8

Morgan Stanley Dean Witter 105 1/16 - 5/16

Merck 73 9/16 -8 3/16

Applied Materials 58 15/16 -2 7/16

Decline ahead? Stocks with most 1-month

significant selling on price strength Price change

Intel 62 1/4 1 15/32

Dell Computer 43 3/16 3 3/4

Sun Microsystems 63 5/8 1 3/8

Cisco Systems 115 1/16 5 1/16

DoubleClick 148 1/2 52 15/16

Qwest Communications Intl. 90 7/8 16 1/16

INTEREST RATES

Latest Week Year

KEY RATES week% ago% ago%

MONEY MARKET FUNDS 4.45 4.45 5.10

90-DAY TREASURY BILLS 4.55 4.36 5.05

6-MONTH BANK CDS 4.35 4.35 5.07

1-YEAR TREASURY BILLS 4.73 4.68 5.48

10-YEAR TREASURY NOTES 5.26 5.17 5.81

30-YEAR TREASURY BONDS 5.58 5.52 6.07

LONG-TERM AA INDUSTRIALS 6.54 6.46 6.66

LONG-TERM BBB INDUSTRIALS 7.13 7.09 7.10

LONG-TERM AA TELEPHONES 6.78 6.69 6.91

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 4.27% 4.25% 4.97% 4.96%

PERCENT OF TREASURIES 81.17 82.07 89.04 89.82

TAXABLE EQUIVALENT 6.19 6.16 7.20 7.19

INSURED REVENUE BONDS 4.38 4.35 5.19 5.17

PERCENT OF TREASURIES 83.26 84.00 92.99 93.62

TAXABLE EQUIVALENT 6.35 6.30 7.52 7.49

EQUITY FUNDS

Leaders Laggards

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

Matthews Korea A 34.8 Eaton Vance Grtr. India B -13.6

IPO Plus Aftermarket 27.8 ProFunds UltraShort OTC Inv. -9.8

DFA Pacific Rim Sm. Co. 27.3 American Heritage -9.4

Montgomery Emerg. Asia R 27.1 ProFunds UltraBear Serv. -9.3

Matthews Pacific Tiger I 26.4 Comstock Part. Cap. Val. B -6.3

Leaders Laggards

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

Internet 400.4 Lex. Troika Dialog Russia -71.0

Amerindo Technology D 226.9 American Heritage -65.5

Munder NetNet A 161.8 Potomac OTC/Short -52.5

ProFunds UltraOTC Investor 159.7 Vontobel Eastern Europ. Eq. -50.1

Berkshire Capital Gr. & Val. 146.4 Safeco Sm. Co. Stock Adv. B -42.1

EQUITY FUND CATEGORIES

Leaders Laggards

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

Pacific/Asia ex-Japan 20.3 Health -0.1

Diversified Emerging Mkts. 12.0 Large-cap Growth 2.9

Precious Metals 11.2 International Hybrid 3.4

Diversified Pacific/Asia 11.0 Domestic Hybrid 3.5

Latin America 10.1 Europe 4.5

Leaders Laggards

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

Technology 62.8 Latin America -24.5

Communications 52.6 Precious Metals -20.4

Large-cap Growth 34.1 Small-cap Value -16.3

Japan 31.5 Diversified Emerging Mkts. -16.0

Large-cap Blend 20.4 Natural Resources -14.4

All data are as of market close Wednesday, Apr. 28, 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. 27. 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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