Investment Figures Of The Week

COMMENTARY

After its mad race up the charts, the Dow fell off its blistering pace to close

the week down 1.2%. The Dow's 79-point plunge on Dec. 3--its biggest one-day

drop since July--was sparked by an about-face in bond prices as the dollar

dropped against the yen. The dollar's drop raised the prospect that a stronger

dollar would hurt corporate profits. A report of poor auto sales for General

Motors Corp. in November added fuel to the fire. Small caps rallied for most of

the week, with the NASDAQ Composite Index ending the week up 0.75%.

Investment Figures of the Week
Investment Figures of the Week
      
                                                    % change
      U.S. MARKETS                        Latest   Week    52-week
      
      Dow Jones Industrials               6422.9   -1.2     25.0
      NASDAQ Combined Composite           1297.0    0.8     21.2
      S&P MidCap 400                       255.8    0.0     16.4
      S&P SmallCap 600                     144.9    1.1     20.1
      S&P SuperComposite 1500              160.6   -1.1     20.8
      
                                                    % change
      SECTORS                             Latest  Week    52-week
      
      Bloomberg Information Age            235.5   0.5    18.8
      S&P Financials                        82.0  -3.1    30.1
      S&P Utilities                        200.0  -0.4     3.3
      PSE Technology                       252.2   2.8      NA
      
                                                    % change
      FOREIGN MARKETS                     Latest  Week    52-week
      
      London (FT-SE 100)                  4045.2  -0.1    10.2
      Frankfurt (DAX)                     2866.1   2.5    27.3
      Tokyo (NIKKEI 225)                20,659.9  -3.2     9.3
      Hong Kong (Hang Seng)             13,434.2  -0.7    35.1
      Toronto (TSE 300)                   5910.7  -1.3    25.4
      Mexico City (IPC)                   3390.5   3.7    26.1
      
                                                   Week    Year
      FUNDAMENTALS                        Latest    ago      ago
      
      S&P 500 Dividend Yield                1.94%   1.91%   2.20%
      S&P 500 P/E Ratio (Last 12 mos.)      20.8    21.0    18.3
      S&P 500 P/E Ratio (Next 12 mos.)*     16.2    16.6      NA
      First Call Earnings Revision*        -0.95%  -0.06%     NA
      
                                                    Week
      TECHNICAL INDICATORS                 Latest   ago      Reading
      
      S&P 500 200-day average              671.2    668.6r   Positive
      Stocks above 200-day average          68.0%    66.0%   Neutral
      Options: Put/call ratio               0.54     0.54    Negative
      Insiders: Vickers Sell/buy ratio      1.85     1.80    Positive
      
      Data: Bloomberg Financial Markets; *First Call Corp.
      
                                            Latest  Week    Year
      KEY RATES                             week%   ago%    ago%
      
      MONEY MARKET FUNDS                    4.95    4.94    NA
      90-DAY TREASURY BILLS                 5.05    5.16    5.46
      6-MONTH BANK CDS                      5.22    5.27    5.43
      1-YEAR TREASURY NOTES                 5.39    5.41    5.32
      10-YEAR TREASURY BONDS                6.06    6.13    5.63
      30-YEAR TREASURY BONDS                6.35    6.43    6.01
      LONG-TERM AA INDUSTRIALS              6.90    6.98    6.71
      LONG-TERM BBB INDUSTRIALS             7.32    7.43    7.08
      LONG-TERM AA TELEPHONES               7.05    7.14    6.94
      
      BEST-PERFORMING           Last                              Last 12
      GROUPS                   month%                              months%
      
      Computer Systems          24.2    Oil & Gas Drilling          127.5   
      Instrumentation           19.6    Shoes                        84.3
      Semiconductors            19.4    Oil-Well Equip. & Svcs.      47.9
      HMOs                      18.8    Computer Software            45.2
      Hospital Management       14.8    Specialty Appar. Retailers   43.4
      
      WORST-PERFORMING         Last                           Last 12
      GROUPS                   month%                         months%
      
      Manufactured Housing     -14.2    Trucking               -29.6
      Publishing                -6.2    Broadcasting           -16.6
      Cosmetics                 -2.0    Machine Tools          -15.3
      Soft Drinks               -2.0    Long-Dist. Telecomm.   -10.1
      Commercial Services       -1.8    Steel                   -9.9
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                1-month
      significant buying on price weakness  Price       change
      Fila Holding-ADR                       70  3/4     -  3/4
      MFS Communications                     49  1/2     -  1/8
      BellSouth                              39          -1 1/2
      Cascade Communications                 70          -3 3/8
      Wal-Mart Stores                        26          -  1/4
      Coca-Cola                              49  3/4     -1
      
      Decline ahead?  Stocks with most                  1-month
      significant selling on price strength   Price      change
      
      Microsoft                             154 11/16    16 11/16
      Cisco Systems                          65  1/2      4 7/8
      Oracle                                 49  3/4      5
      Informix                               25  1/4      3 7/8
      U.S. Robotics                          73  3/4     14 1/4
      Dell Computer                         108 11/16    30 15/16
      
      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          4.67%   4.72%   5.31%   5.36%
      PERCENT OF TREASURIES       76.58   77.00   83.10   83.24
      TAXABLE EQUIVALENT           6.77    6.84    7.70    7.77
      INSURED REVENUE BONDS        4.79    4.84    5.55    5.60
      PERCENT OF TREASURIES       78.55   78.96   86.85   86.96
      TAXABLE EQUIVALENT           6.94    7.01    8.04    8.12
      
      EQUITY FUNDS
      Leaders                              Laggards
      Four-week total return           %   Four-week total return          %
      
      Seligman Commun. & Info. D    15.0   United Svcs. Gold Shares     -11.0
      Fidelity Sel. Electronics     14.7   Bull & Bear Gold Invest.      -9.9
      Principal Pr. PSE Tech. 100   14.3   Pioneer India A               -9.1
      United Svcs. China Region     13.5   Lexington Strat. Invmts.      -8.6
      Seligman Hend. Glob. Tech. A  13.2   IDS Precious Metals B         -8.1
      
      Leaders                              Laggards
      52-week total return             %   52-week total return            %
      State St. Res. Glob. Res. A   81.2   Steadman Technology Grth.    -27.5
      Interactive Inv. Tech. Val.   65.6   Matthews Korea               -27.0
      Fidelity Sel. Energy Serv.    61.0   Pioneer India B              -22.1
      PBHG Technology & Commun.     53.6   United Svcs. Gold Shares     -21.9
      Dreyfus Aggressive Value      52.2   Bhirud Mid Cap Growth        -19.8
      
      EQUITY FUND OBJECTIVES
      Leaders                              Laggards
      Four-week total return         %     Four-week total return         %
      Specialty-Technology           9.6   Specialty-Precious Metals     -5.0
      Growth and Income              5.0   Specialty-Utilities            1.8
      Specialty-Natural Resources    5.0   Diversified Emerging Market    2.0
      Specialty-Financial            5.0   Specialty-Communication        2.4
      Growth                         4.6   Multiasset Global              2.7
      
      Leaders                              Laggards
      52-week total return            %    52-week total return%
      Specialty-Natural Resources   35.1   Specialty-Communication        8.6
      Specialty-Real Estate         30.1   Specialty-Precious Metals      9.1
      Specialty-Financial           29.3   Pacific                        9.9
      Growth and Income             23.4   Specialty-Utilities           12.6
      Europe                        22.5   Diversified Emerging Market   13.4
      
      All data are as of market close Wednesday, Dec. 4, 1996, 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 Dec. 3. For a more detailed explanation, write to us or E-mail 
      figures@businessweek.com  NA=Not available  r=revised **Vanguard Index 500 Fund
      
Before it's here, it's on the Bloomberg Terminal.
LEARN MORE