Investment Figures Of The Week

COMMENTARY

An upbeat week in the financial markets, which saw the indexes hoisted by

profit tidings and the WorldCom offer to buy MCI. On Oct. 1, when the merger

news broke, the Dow Jones industrial average rose 70 points to close at

8016--the first close above 8000 since Aug. 20. Bonds were boosted by word from

purchasing managers that the economy was growing slowly enough to keep

inflation in check. Earlier in the week, strong computer stock earnings boosted

the major indexes.

Investment Figures of the Week
Investment Figures of the Week
      
                                                     % change
      U.S. MARKETS                    Latest      Week      Year
      
      Dow Jones Industrials           8015.5      1.4       35.1
      NASDAQ Combined Composite       1690.3      0.2       36.7
      S&P MidCap 400                   332.7      0.9       36.7
      S&P SmallCap 600                 188.0      1.1       36.8
      S&P SuperComposite 1500          206.3      1.1       38.4
      
                                                    % change
      SECTORS                         Latest      Week     Year
      
      Bloomberg Information Age       301.3        0.2     44.0
      S&P Financials                  112.8        1.2     53.3
      S&P Utilities                   206.6        0.2      9.1
      PSE Technology                  332.8       -1.8     51.1
      
                                                   % change
      FOREIGN MARKETS                Latest       Week     Year
      
      London (FT-SE 100)             5317.1        4.7     32.4
      Frankfurt (DAX)                4197.0        2.3     56.8
      Tokyo (NIKKEI 225)           17,842.2       -3.1    -17.0
      Hong Kong (Hang Seng)        15,049.3        5.9     25.9
      Toronto (TSE 300)              7044.6        0.5     30.7
      Mexico City (IPC)              5354.4        2.8     62.9
      
                                                       Week     Year
      FUNDAMENTALS                          Latest      ago      ago
      
      S&P 500 Dividend Yield                 1.60 %    1.59 %   2.09 %
      S&P 500 P/E Ratio (Last 12 mos.)       24.2      24.1     19.9
      S&P 500 P/E Ratio (Next 12 mos.)*      18.8      19.0      NA
      First Call Earnings Surprise*          2.70 %    2.71 %    NA
      
                                                        Week
      TECHNICAL INDICATORS                    Latest    ago       Reading
      
      S&P 500 200-day average                841.3      836.2     Positive
      Stocks above 200-day average            84.0 %    83.0 %    Negative
      Options: Put/call ratio                 0.47      0.47      Negative
      Insiders: Vickers Sell/buy ratio        3.62      3.76      Negative
      
      BEST-PERFORMING             Last                                 Last 12
      GROUPS                     month%                                months%
      
      Trucking                    29.9       Trucking                   190.5
      Invest. Banking/Brkrge.     23.4       Invest. Banking/Brkrge.    100.4
      Oil & Gas Drilling          18.3       Savings & Loans             90.5
      Transportation Services     15.3       Oil & Gas Drilling          88.5
      Long-Dist. Telecomm.        15.0       Semiconductors              86.3
      
      WORST-PERFORMING             Last                               Last 12
      GROUPS                       month%                             months%
      
      Metal & Glass Containers     -6.9      Photography/Imaging        -16.0
      Engineering & Constr.        -5.2      Hospital Management         -9.3
      Steel                        -4.0      Engineering & Constr.       -8.0
      Specialty Printing           -2.4      Gold Mining                 -6.7
      Hospital Management          -2.3      Shoes                       -5.8
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                            1-month
      significant buying on price weakness    Price               change
      
      Micron Technology                       34 11/16            -10 5/8
      Atmel                                   36 7/16               - 7/16
      Motorola                                71 7/8               -4 3/4
      American Home Products                  73                   -2 3/16
      AirTouch Communications                 35 7/16              -  5/16
      Kulicke & Soffa Industries              46 5/16              -3 9/16
      
      Decline ahead?  Stocks with most                            1-month
      significant selling on price strength   Price               change
      
      Dell Computer                           96 7/8             12 3/4
      WorldCom                                35 3/8              4 3/8
      3Com                                    51 1/4              1
      NationsBank                             61 7/8              3 1/8
      Pfizer                                  60 1/8              2 1/4
      HBO                                     37 3/4                 3/4
      
                                  Latest    Week    Year
      KEY RATES                   week%     ago%    ago%
      
      MONEY MARKET FUNDS           5.14     5.14    4.99
      90-DAY TREASURY BILLS        5.09     4.94    5.10
      6-MONTH BANK CDS             5.19     5.17    5.06
      1-YEAR TREASURY BILLS        5.40     5.46    5.65
      10-YEAR TREASURY NOTES       6.03     6.04    6.65
      30-YEAR TREASURY BONDS       6.32     6.32    6.88
      LONG-TERM AA INDUSTRIALS     6.78     6.77    7.40
      LONG-TERM BBB INDUSTRIALS    7.17     7.16    7.82
      LONG-TERM AA TELEPHONES      7.11     7.10    7.60
      
      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         4.56      4.57    5.14     5.15
      PERCENT OF TREASURIES      75.59     75.73   81.31    81.56
      TAXABLE EQUIVALENT          6.61      6.62    7.45     7.46
      INSURED REVENUE BONDS       4.71      4.72    5.37     5.38
      PERCENT OF TREASURIES      78.08     78.21   84.95    85.20
      TAXABLE EQUIVALENT          6.83      6.84    7.78     7.80
      
      Leaders                                 Laggards
      Four-week total return        %         Four-week total return        %
      
      Cappiello-Rush Emrg. Gr.     13.0       DFA Japanese Small Co.      -14.2
      Cohen & Steers Spec. Eq.     12.9       Steadman American Industry   -5.7
      Evergreen U.S. Real Est.Y    12.6       Matthews Korea               -5.5
      Wright EquiFd.-Mexico        12.6       Steadman Technology Grth.    -5.5
      Fidelity Select Brokerage    11.8       American Heritage            -3.7
      
      Leaders                                 Laggards
      52-week total return           %        52-week total return          %
      
      Lexington Troika Russia      149.4      DFA Japanese Small Co.      -48.8
      Fidelity Sel. Energy Service  94.4      Bull & Bear Gold Investors  -43.0
      Hartford Cap. Apprec. A       90.5      United Svcs. Gold Shares    -39.7
      Fidelity Select Brokerage     81.5      Midas                       -36.6
      Evergreen U.S. Real Est. Y    78.7      Morgan Stan. Instl. Gold A  -35.9
      
      Leaders                                 Laggards
      Four-week total return        %         Four-week total return       %
      
      Real Estate                   8.9       Japan                      -0.7
      Latin America                 7.5       Domestic Hybrid             2.5
      Small-cap Growth              7.1       Large-cap Growth            2.6
      Communications                6.9       Large-cap Value             2.6
      Europe                        6.6       Large-cap Blend             2.7
      
      Leaders                                 Laggards
      52-week total return          %         52-week total return        %
      
      Financial                    50.9       Precious Metals           -21.8
      Latin America                45.9       Japan                     -12.5
      Real Estate                  41.6       Diversified Pacific/Asia   -5.7
      Small-cap Value              40.8       Pacific/Asia ex-Japan      -1.5
      Mid-cap Value                37.9       International Hybrid       14.4
      
      All data are as of market close Wednesday, Oct. 1, 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 
      Sept. 30. For a more detailed explanation, write to us or E-mail 
      figures@businessweek.com.  NA=Not available  **Vanguard Index 500 Fund