business

Investment Figures Of The Week

STOCKS

COMMENTARY

An unsettling week in the U.S. financial markets, which gave back some of the

gains realized in the previous week. The Dow Jones industrial average peaked

at 8533 on Oct. 22, but then slid 81 points the following day. It was the

first decline in eight days, as profit-taking took hold. The market continued

to fall on Oct. 26 and Oct. 27, with retailers leading the declines. Still,

high-tech stocks rallied. The dollar climbed against the mark, and bonds were

helped by word of weaker-than-expected home sales.

Investment Figures of the Week
Investment Figures of the Week
      
                                                           % change
      U.S. MARKETS                            Latest    Week      Year
      Dow Jones Industrials                   8372.0   -1.7       11.5
      NASDAQ Combined Composite               1737.4    3.7       8.4
      S&P MidCap 400                          324.0     2.3       1.9
      S&P SmallCap 600                        155.5     2.4      -13.5
      S&P SuperComposite 1500                 225.1     0.1       13.5
      
                                                           % change
      SECTORS                                 Latest    Week      Year
      Bloomberg Information Age               369.5     2.2       31.0
      S&P Financials                          114.4    -2.0       3.2
      S&P Utilities                           249.4    -0.6       21.1
      PSE Technology                          345.8     4.4       13.8
      
                                                           % change
      FOREIGN MARKETS                         Latest    Week     Year
      London (FT-SE 100)                      5293.9    1.7       8.7
      Frankfurt (DAX)                         4536.3    0.3       19.6
      Tokyo (NIKKEI 225)                    13,516.1   -4.9      -19.8
      Hong Kong (Hang Seng)                   9927.1    2.7      -7.8
      Toronto (TSE 300)                       6033.8    3.2      -11.9
      Mexico City (IPC)                       3843.7   -0.2      -19.8
      
                                                        Week      Year
      FUNDAMENTALS                            Latest    ago        ago
      S&P 500 Dividend Yield                  1.48%     1.49%     1.65%
      S&P 500 P/E Ratio (Last 12 mos.)        26.6      26.7      23.0
      S&P 500 P/E Ratio (Next 12 mos.)*       21.1      20.7      18.3
      First Call Earnings Surprise*           0.94%     1.36%     2.42%
      
                                                        Week
      TECHNICAL INDICATORS                    Latest    ago      Reading
      S&P 500 200-day average                 1072.6    1069.6   Negative
      Stocks above 200-day average            24.0%     23.0%    Positive
      Options: Put/call ratio                 0.55      0.54     Negative
      Insiders: Vickers Sell/buy ratio        0.41      0.46     Positive
      
      BEST-PERFORMING           Last                                   Last 12
      GROUPS                    month%                                 months%
      Machine Tools              21.4     Genl. Merchandise Chains     64.3
      Toys                       20.1     Drug Chains                  55.0
      Cosmetics                  19.6     Communications Equip.        48.7
      Soft Drinks                16.1     Long-Dist. Telecomms.        48.3
      Household Products         15.7     Drugs                        44.8
      
      WORST-PERFORMING          Last                                  Last 12
      GROUPS                    month%                                months%
      Personal Loans            -14.8     Oil & Gas Drilling          -55.6
      Pollution Control         -11.0     Metals                      -41.0
      Domestic Oil               -9.3     Leisure Time                -39.7
      Chemicals                  -8.8     Oil-Well Equip. & Svcs.     -36.1
      Life Insurance             -8.7     Oil Exploration & Prod.     -29.7
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                        1-month
      significant buying on price weakness       Price        change
      
      Wells Fargo                                361          -2
      Yahoo!                                     123 3/4      -4 3/16
      Citicorp                                   79 13/16     -20 15/16
      Eli Lilly                                  76 7/8       -3
      Amgen                                      77 5/8       -2
      Microsoft                                  105 7/16     -5 7/8
      
      Decline ahead?  Stocks with most                         1-month
      significant selling on price strength      Price         change
      MCI WorldCom                               52 9/16       2 11/16
      Tellabs                                    53 3/8        7 1/16
      Washington Mutual                          36 7/16         1/2
      eBay                                       82 1/2       34 1/4
      Becton Dickinson                           40 15/16        5/16
      Northern Trust                             72 3/16         1/8
      
      INTEREST RATES
      
                                              Latest    Week      Year
      KEY RATES                               week%     ago%      ago%
      MONEY MARKET FUNDS                      4.89      4.93      5.14
      90-DAY TREASURY BILLS                   4.25      4.00      5.19
      6-MONTH BANK CDS                        4.47      4.57      5.10
      1-YEAR TREASURY BILLS                   4.06      4.02      5.35
      10-YEAR TREASURY NOTES                  4.56      4.59      5.91
      30-YEAR TREASURY BONDS                  5.12      5.08      6.23
      LONG-TERM AA INDUSTRIALS                6.28      6.28      6.75
      LONG-TERM BBB INDUSTRIALS               7.21      7.05      7.12
      LONG-TERM AA TELEPHONES                 6.63      6.67      7.01
      
      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              4.09%    4.04%      4.79%    4.73%
      PERCENT OF TREASURIES           89.75    88.43      93.55    93.29
      TAXABLE EQUIVALENT               5.93     5.86       6.94     6.86
      INSURED REVENUE BONDS            4.20     4.18       5.02     4.96
      PERCENT OF TREASURIES           92.16    91.50      98.04    97.82
      TAXABLE EQUIVALENT               6.09     6.06       7.28     7.19
      
      MUTUAL FUNDS
      
      EQUITY FUNDS
      
      Leaders                                 Laggards
      Four-week total return        %         Four-week total return         %
      Newport Tiger T             28.2        Reserve Informed Investors  -11.8
      Wright EquiFd.-Hong Kong    27.2        GAM Global D                -10.6
      Newport Tiger Cub A         23.3        PBHG Select Equity           -9.1
      Guinness Flight China       23.1        OVB Emerging Growth A        -8.9
      Newport Greater China A     22.6        Bridgeway Aggressive Gr.     -8.6
      
      Leaders                                 Laggards
      52-week total return          %         52-week total return           %
      Smith Barney Telecomm. Inc. 49.5        Lexington Troika Russia     -87.0
      Flag Inv. Communications A  45.6        Vontobel Eastern Europ. Eq. -55.4
      Berger Balanced             45.1        Frontier Equity             -54.2
      Transamerica Aggr. Gr. Inv. 43.7        Dreyfus Aggressive Grth.    -54.0
      Janus Twenty                40.7        Eaton Vance Wwde.Dv. Res. B -53.1
      
      EQUITY FUND CATEGORIES
      
      Leaders                                 Laggards
      Four-week total return        %         Four-week total return         %
      Pacific/Asia ex-Japan       13.2        Real Estate                  -3.3
      Diversified Pacific/Asia     7.4        Precious Metals              -2.7
      Japan                        5.5        Health                       -1.8
      Diversified Emerging Mkts.   4.1        Mid-cap Growth               -0.7
      Foreign                      3.9        Natural Resources            -0.4
      
      Leaders                                 Laggards
      52-week total return          %         52-week total return           %
      Utilities                   22.0        Diversified Emerging Mkts.  -35.6
      Communications              21.0        Latin America               -35.2
      Large-cap Growth            18.6        Pacific/Asia ex-Japan       -26.8
      Large-cap Blend             15.2        Natural Resources           -26.0
      Europe                       9.2        Diversified Pacific/Asia    -23.4
      
      All data are as of market close Wednesday, Oct. 28, 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 Oct. 27. For a more detailed explanation, write to us or E-mail 
      figures@businessweek.com.  NA=Not available  **Vanguard Index 500 Fund
      
      
      
    Before it's here, it's on the Bloomberg Terminal. LEARN MORE