Investment Figures Of The Week

COMMENTARY

The Russian financial crisis sent shock waves throughout the world, including

the U.S. financial markets. Banks such as J.P. Morgan and Citicorp were among

the biggest losers because of concerns that they may suffer losses on Russian

and other emerging market debt. The Dow Jones industrial average fell 135

points during the day on Aug. 26, but recovered to end the day at 8523.4, down

79. Yields of 30-year U.S. bonds declined to their lowest levels since 1977 as

investors rushed to safety.

STOCKS

Investment Figures of the Week
Investment Figures of the Week
                                               % change
      U.S. MARKETS                Latest     Week    Year
      Dow Jones Industrials       8523.4     -2.0     9.5
      NASDAQ Combined Composite   1768.1     -4.0    10.8
      S&P MidCap 400               318.8     -5.1     1.5
      S&P SmallCap 600             160.5     -6.1    -7.9
      S&P SuperComposite 1500      228.0     -1.8    15.8
      
                                                % change
      SECTORS                     Latest     Week    Year
      Bloomberg Information Age   358.4      -1.5    22.5
      S&P Financials              121.6      -4.6    16.3
      S&P Utilities               240.3       1.6    20.9
      PSE Technology              335.4      -4.1     1.8
      
                                                  % change
      FOREIGN MARKETS             Latest     Week    Year
      London (FT-SE 100)           5545.4    -2.6     13.0
      Frankfurt (DAX)              5231.6    -6.5     30.9
      Tokyo (NIKKEI 225)         14,866.0    -3.5    -19.4
      Hong Kong (Hang Seng)        7834.4     2.8    -49.6
      Toronto (TSE 300)            6172.3    -5.2     -7.5
      Mexico City (IPC)            3254.4    -9.7    -33.8
      
                                                      Week      Year
      FUNDAMENTALS                          Latest    ago        ago
      S&P 500 Dividend Yield                1.44%     1.43%     1.65%
      S&P 500 P/E Ratio (Last 12 mos.)      26.4      26.2      23.0
      S&P 500 P/E Ratio (Next 12 mos.)*     24.4      24.4      18.3
      First Call Earnings Revision*        -3.26%    -3.33%    -1.06%
      
                                                       Week
      TECHNICAL INDICATORS                   Latest     ago     Reading
      S&P 500 200-day average                1057.3    1053.5   Positive
      Stocks above 200-day average           26.0%     30.0%    Positive
      Options: Put/call ratio                0.66      0.66     Neutral
      Insiders: Vickers Sell/buy ratio       1.09      1.16     Positive
      
      BEST-PERFORMING           Last                                      Last 12
      GROUPS                    month%                                    months%
      Drug Chains               8.7          Specialty Appar. Retailers    78.5
      Computer Systems          7.0          Drug Chains                   72.7
      Tobacco                   6.0          Broadcasting                  72.5
      Food Chains               5.7          Drugs                         67.1
      Genl. Merchandise Chains  5.5          Genl. Merchandise Chains      65.2
      
      WORST-PERFORMING          Last                                Last 12
      GROUPS                    month%                              months%
      HMOs                      -41.9        Oil & Gas Drilling     -57.0
      Savings & Loans           -22.2        Metals                 -54.2
      Metals                    -19.3        Gold Mining            -42.9
      Shoes                     -19.2        Leisure Time           -40.0
      Leisure Time              -18.9        Engineering & Constr.  -37.8
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                         1-month
      significant buying on price weakness        Price        change
      Intel                                       84 27/64      -1 41/64
      Citicorp                                    136 1/8      -31 1/2
      America Online                              110 3/4       -6 3/4
      Merrill Lynch                               86 5/16      -12 11/16
      General Electric                            90 5/16       -1 11/16
      Lucent Technologies                         87            -7 3/8
      
      Decline ahead?  Stocks with most                          1-month
      significant selling on price strength       Price         change
      Cisco Systems                               103 15/16      6 7/16
      Dell Computer                               124           13 3/4
      Yahoo                                       97 1/2         2 29/32
      American Home Products                      58             5 3/4
      Home Depot                                  45 3/8         1 1/2
      Mobil                                       72 7/8         13/16
      
      INTEREST RATES
      
                                       Latest    Week      Year
      KEY RATES                        week%     ago%      ago%
      MONEY MARKET FUNDS               5.10      5.11      5.15
      90-DAY TREASURY BILLS            5.05      5.07      5.28
      6-MONTH BANK CDS                 5.06      5.07      5.17
      1-YEAR TREASURY BILLS            5.09      5.25      5.60
      10-YEAR TREASURY NOTES           5.20      5.42      6.38
      30-YEAR TREASURY BONDS           5.42      5.56      6.66
      LONG-TERM AA INDUSTRIALS         6.21      6.27      7.15
      LONG-TERM BBB INDUSTRIALS        6.69      6.81      7.53
      LONG-TERM AA TELEPHONES          6.55      6.61      7.46
      
      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%     4.38%     4.86%     4.93%
      PERCENT OF TREASURIES         82.12     81.01     89.66     88.73
      TAXABLE EQUIVALENT             6.19      6.35      7.04      7.14
      INSURED REVENUE BONDS          4.44      4.53      5.06      5.15
      PERCENT OF TREASURIES         85.39     83.78     93.35     92.69
      TAXABLE EQUIVALENT             6.43      6.57      7.33      7.46X
      
      MUTUAL FUNDS
      
      EQUITY FUNDS
      Leaders                                 Laggards
      Four-week total return         %        Four-week total return         %
      Anchor Capital Accumulation   53.1      Lexington Troika Russia       -49.4
      Prudent Bear                   7.4      Excelsior Latin America       -29.3
      ProFunds UltraBear Investor    6.0      Govett Latin America A        -29.2
      Fidelity Select Computers      4.3      AIM Latin American Grth. B    -28.3
      Comstock Part. Cap. Val. R     3.8      ABN AMRO Lat. Amer. Com.      -28.0
      
      Leaders                                 Laggards
      52-week total return           %        52-week total return           %
      Anchor Capital Accumulation   73.7      Lexington Troika Russia       -84.7
      Weitz Hickory                 51.3      Guinness Flgt. Asia Sm. Cap   -72.2
      Munder NetNet A               48.2      Lex. Crosby Sm. Cap  Asia     -70.7
      Transamerica Prem. Sm. Co.    47.6      Montgomery Emerg. Asia R      -69.6
      Smith Barney Telecom. Inc.    47.0      U.S. Global Inv. China Reg.   -69.0
      
      EQUITY FUND CATEGORIES
      Leaders                                 Laggards
      Four-week total return         %        Four-week total return         %
      Utilities                    -2.1       Latin America                 -25.8
      Domestic Hybrid              -2.6       Diversified Emerging Mkts.    -18.8
      Large-cap Growth             -3.5       Precious Metals               -12.4
      Technology                   -3.6       Small-cap Blend                -9.8
      Health                       -3.7       Natural Resources              -9.8
      
      Leaders                                 Laggards
      52-week total return           %        52-week total return           %
      Communications                25.6      Pacific/Asia ex-Japan         -55.9
      Utilities                     22.1      Precious Metals               -45.2
      Europe                        20.3      Diversified Emerging Mkts.    -43.3
      Large-cap Growth              19.4      Diversified Pacific/Asia      -42.8
      Financial                     16.5      Latin America                 -42.5
      
      All data are as of market close Wednesday, Aug. 26, 1998, 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 Aug. 25. 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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