Investment Figures Of The Week

COMMENTARY

Stocks continued their relentless upward push, sparked by Internet mania and the prospects that a censure deal between the Republicans and the White House is likely to be worked out. The Dow Jones industrial average came within a hair of its Nov. 23 high of 9374, while both the Standard & Poor's 500-stock index and the NASDAQ Composite forged new records. The tech-heavy NASDAQ has vaulted 39% this year, more than twice the Dow increase. Small stocks are another story: The S&P small-cap index, although up 43% from its October low, is still down 5.3% for the year.

STOCKS

Investment Figures of the Week

Investment Figures of the Week
Investment Figures of the Week
                                                    % change
      U.S. MARKETS                          Latest      Week      Year
      Dow Jones Industrials                 9321.0      3.1       19.6
      NASDAQ Combined Composite             2181.8      2.9       41.9
      S&P MidCap 400                        373.4       3.9       14.9
      S&P SmallCap 600                      171.5       2.7       -3.0
      S&P SuperComposite 1500               261.0       3.2       27.4
                                                           % change
      SECTORS                               Latest      Week      Year
      Bloomberg Information Age             475.6       3.1       64.5
      S&P Financials                        132.1       1.8       13.5
      S&P Utilities                         259.6       0.2       10.9
      PSE Technology                        445.6       2.2       57.6
                                                           % change
      FOREIGN MARKETS                       Latest      Week      Year
      London (FT-SE 100)                    5941.5      1.7       16.2
      Frankfurt (DAX)                       5031.9      4.3       19.9
      Tokyo (NIKKEI 225)                    13,846.9    0.5       -6.3
      Hong Kong (Hang Seng)                 10,226.0    -0.9      -2.6
      Toronto (TSE 300)                     6472.2      1.5       -2.7
      Mexico City (IPC)                     3916.8      0.5       -23.5
                                                        Week        Year
      FUNDAMENTALS                          Latest      ago        ago
      S&P 500 Dividend Yield                1.28%       1.28%     1.61%
      S&P 500 P/E Ratio (Last 12 mos.)      31.9        31.3      23.6
      S&P 500 P/E Ratio (Next 12 mos.)*     24.0        23.5      18.6
      First Call Earnings Revision*        -2.98%      -3.00%    -1.76%
                                                        Week
      TECHNICAL INDICATORS                  Latest       ago      Reading
      S&P 500 200-day average               1102.8      1099.8    Positive
      Stocks above 200-day average          37.0%       35.0%     Positive
      Options: Put/call ratio               0.44        0.49      Negative
      Insiders: Vickers Sell/buy ratio      1.14        1.14      Positive
      
      BEST-PERFORMING             Last                                      Last 12
      GROUPS                      month%                                    months%
      Transportation Services     30.1        Communications Equip.         116.0
      Long-Dist. Telecomms.       21.0        Specialty Appar. Retailers    113.3
      Health-Care Services        20.6        Genl. Merchandise Chains      90.6
      Communications Equip.       18.8        Drug Chains                   88.8
      Homebuilding                16.7        Computer Systems              85.2
      WORST-PERFORMING            Last                                      Last 12
      GROUPS                      month%                                    months%
      Toys                        -24.6       Oil & Gas Drilling            -56.9
      Metals                      -15.3       Oil-Well Equip. & Svcs.       -37.6
      Gold Mining                 -14.1       Oil Exploration & Prod.       -31.0
      Aerospace & Defense         -13.6       Metals                        -28.7
      Metal & Glass Containers    -11.7       Leisure Time                  -26.3
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                       1-month
      significant buying on price weakness    Price          change
      Merck                                   148            -7 1/8
      Exxon                                   74 1/2         -1/2
      Berkshire Hathaway-A                    67,600         -300
      Motorola                                60 1/4         -1 5/8
      J.P. Morgan                             104 13/16      -2 1/16
      Coca-Cola                               68 7/8         -1 3/16
      Decline ahead?  Stocks with most                       1-month
      significant selling on price strength   Price          change
      Cisco Systems                           94 3/16        18 13/16
      Microsoft                               142 3/8        20 3/8
      MCI WorldCom                            71 15/16       12 15/16
      Dell Computer                           74 3/4         13 15/16
      Sun Microsystems                        85             10 15/16
      CMGI                                    131 1/2        54
      
      INTEREST RATES
                                         Latest    Week      Year
      KEY RATES                          week%     ago%      ago%
      MONEY MARKET FUNDS                 4.75      4.75      5.25
      90-DAY TREASURY BILLS              4.57      4.52      5.38
      6-MONTH BANK CDS                   4.38      4.38      5.21
      1-YEAR TREASURY BILLS              4.61      4.55      5.52
      10-YEAR TREASURY NOTES             4.68      4.70      5.76
      30-YEAR TREASURY BONDS             5.10      5.14      5.92
      LONG-TERM AA INDUSTRIALS           6.11      6.15      6.55
      LONG-TERM BBB INDUSTRIALS          6.94      6.99      6.88
      LONG-TERM AA TELEPHONES            6.46      6.49      6.89
      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                4.15%     4.15%     4.87%     4.87%
      PERCENT OF TREASURIES              88.65     88.31     95.38     94.77
      TAXABLE EQUIVALENT                 6.01      6.01      7.06      7.06
      INSURED REVENUE BONDS              4.30      4.30      5.13      5.13
      PERCENT OF TREASURIES              91.85     91.50     100.47    99.83
      TAXABLE EQUIVALENT                 6.23      6.23      7.43      7.43
      
      MUTUAL FUNDS
      EQUITY FUNDS
      Leaders                                 Laggards
      Four-week total return          %       Four-week total return          %
      Millennium Growth             35.5      ProFunds UltraShort OTC Inv.  -28.9
      ProFunds UltraOTC Service     34.6      American Heritage             -25.0
      Matthews Korea A              32.0      Montgomery Latin America R    -18.4
      Amerindo Technology D         30.7      FPA Paramount                 -15.7
      WWW Internet                  30.1      Potomac OTC/Short             -15.6
      Leaders                                 Laggards
      52-week total return            %       52-week total return            %
      ProFunds UltraOTC Investor    202.2     Lexington Troika Russia       -82.2
      Amerindo Technology D         113.9     American Heritage             -63.7
      Fidelity Select Computers     107.2     Potomac OTC/Short             -55.5
      Dreyfus Technology Growth     106.3     State St. Res. Glob. Res. C   -49.6
      Rydex OTC Investor            93.8      Montgomery Latin America R    -49.5
      EQUITY FUND CATEGORIES
      Leaders                                 Laggards
      Four-week total return          %       Four-week total return          %
      Technology                    15.5      Latin America                 -9.0
      Communications                13.2      Precious Metals               -5.6
      Large-cap Growth              9.3       Natural Resources             -4.1
      Mid-cap Growth                8.8       Real Estate                   -3.0
      Small-cap Growth              6.0       Diversified Emerging Mkts.    -1.6
      Leaders                                 Laggards
      52-week total return            %       52-week total return            %
      Technology                    53.3      Latin America                 -35.8
      Communications                47.1      Diversified Emerging Mkts.    -25.2
      Large-cap Growth              40.0      Natural Resources             -23.5
      Large-cap Blend               25.6      Real Estate                   -16.3
      Health                        21.7      Precious Metals               -15.1
      
      All data are as of market close Tuesday, Dec. 29, 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 Dec. 28. 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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