Investment Figures Of The Week

COMMENTARY

A discouraging week in the U.S. financial markets, with stocks falling after

the Dow Jones industrial average briefly touched the magical 10,000 mark. The

Dow closed at a record 9998 on Mar. 18, after climbing above 10,000 during the

day. But profit worries, fueled by reports of declining sales in the

technology sector, sent stocks falling over the next four trading days. The

worst day was Mar. 23, with the Dow falling 219 points. The attack on Kosovo

contributed to investor skittishness on Mar. 24.

STOCKS

Investment Figures of the Week
Investment Figures of the Week
                                                        % change
      U.S. MARKETS                       Latest      Week      Year
      Dow Jones Industrials              9666.8      -2.2      8.9
      NASDAQ Combined Composite          2365.3      -2.6     29.6
      S&P MidCap 400                      357.8      -2.6     -2.9
      S&P SmallCap 600                    155.2      -4.4    -22.0
      S&P SuperComposite 1500             264.7      -2.3     12.1
      
                                                       % change
      SECTORS                             Latest     Week       Year
      Bloomberg Information Age           498.6      -2.7      47.3
      S&P Financials                      137.5      -2.6       2.7
      S&P Utilities                       246.4       0.9      -0.6
      PSE Technology                      474.2      -3.1      37.3
      
                                                       % change
      FOREIGN MARKETS                    Latest      Week       Year
      London (FT-SE 100)                 6016.7      -2.0       0.8
      Frankfurt (DAX)                    4780.1      -5.9      -6.2
      Tokyo (NIKKEI 225)               15,515.5      -4.6      -6.9
      HOng Kong (Hang Seng)            10,711.3      -2.1      -9.3
      Toronto (TSE 300)                  6527.3      -1.0     -13.9
      Mexico City (IPC)                  4819.5      -0.7     -3.6
      
                                                     Week       Year
      FUNDAMENTALS                         Latest    ago        ago
      S&P 500 Dividend Yield               1.27%     1.23%      1.36%
      S&P 500 P/E Ratio (Last 12 mos.)     33.2      34.3       27.7
      S&P 500 P/E Ratio (Next 12 mos.)*    24.0      24.8       21.9
      First Call Earnings Revision*       -1.48%    -1.64%     -3.48%
      
                                                     Week
      TECHNICAL INDICATORS                Latest     ago        Reading
      S&P 500 200-day average            1146.4    1141.5       Positive
      Stocks above 200-day average         29.0%     32.0%      Positive
      Options: Put/call ratio              0.52      0.50       Negative
      Insiders: Vickers Sell/buy ratio     1.06      1.09       Positive
      
      Data: Bloomberg Financial Markets; *First Call Corp.
      
      BEST-PERFORMING              Last                                 Last 12
      GROUPS                       month%                               months%
      Oil & Gas Drilling           36.3    Specialty Appar. Retailers   78.1
      Oil Exploration & Prod.      28.1    Restaurants                  66.0
      Oil-Well Equip. & Svcs.      21.7    Computer Systems             64.8
      Domestic Oil                 16.3    Communications Equip.        64.0
      Invest. Banking/Brkrge.      14.9    Broadcasting                 59.8
      
      WORST-PERFORMING            Last                                 Last 12
      GROUPS                      month%                               months%
      Drug Chains                 -22.7    Engineering & Constr.       -50.9
      Engineering & Constr.       -20.8    Machine Tools               -48.4
      Machine Tools               -12.4    Oil & Gas Drilling          -48.0
      Manufactured Housing        -11.9    Hospital Management         -43.5
      Homebuilding                -11.6    Metal & Glass Containers    -41.7
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead? Stocks with most                            1-month
      significant buying on price weakness    Price              change
      IBM                                     165 3/8            -8 3/8
      Vodapone Group-ADR                      166 1/16          -21 5/16
      Texas Instruments                        91 1/4           -10 3/4
      Motorola                                 70                -2 3/8
      Lucent Technologies                     100 3/16           -2 3/4
      Micron Technology                        50 5/8           -21 3/8
      
      Decline ahead? Stocks with most                             1-month
      significant selling on price strength   Price               change
      Microsoft                               166 9/16           13 11/16
      MCI WorldCom                             86                 2 1/16
      Amgen                                    75 13/16          12 5/16
      Sun Microsystems                        109 7/8             8 13/16
      Cisco Systems                           100 5/16              3/8
      eBay                                    146 3/8            51 3/64
      
      INTEREST  RATES
      
                                     Latest     Week       Year
                                     week%      ago%       ago%
      MONEY MARKET FUNDS             4.48       4.50       5.11
      90-DAY TREASURY BILLS          4.48       4.50       5.17
      6-MONTH BANK CDS               4.35       4.35       5.07
      1-YEAR TREASURY BILLS          4.68       4.72       5.37
      10-YEAR TREASURY NOTES         5.15       5.12       5.64
      30-YEAR TREASURY BONDS         5.53       5.50       5.94
      LONG-TERM AA INDUSTRIALS       6.45       6.37       6.51
      LONG-TERM BBB INDUSTRIALS      7.12       7.00       6.98
      LONG-TERM AA TELEPHONES        6.62       6.58       6.79
      
      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       4.22%        4.23%       4.94%         4.95%
      PERCENT OF TREASURIES    81.84        82.62       89.28         89.98
      TAXABLE EQUIVALENT        6.12         6.13        7.16          7.17
      INSURED REVENUE BONDS     4.31         4.32        5.18          5.19
      PERCENT OF TREASURIES    83.59        84.38       93.61         94.34
      TAXABLE EQUIVALENT        6.25         6.26        7.51          7.52
      
      EQUITY FUNDS
      Leaders                                 Laggards
      Four-week total return           %      Four-week total return            %
      Fidelity Sel. Energy Serv.    29.5      American Heritage             -20.0
      Icon Energy                   26.9      CGM Focus                     -13.6
      Rydex Energy Svcs. Inv.       26.7      PBHG Emerging Growth          -12.8
      Matthews Korea I              23.7      Navellier Aggr. Micro Cap     -12.6
      Internet                      21.0      PBHG Limited                  -12.3
      
      Leaders                                 Laggards
      52-week total return              %     52-week total return              %
      Internet                      324.5     Lexington Troika Russia       -75.9
      Amerindo Technology D         148.7     American Heritage             -63.2
      ProFunds UltraOTC Investor    120.7     Vontobel Eastern Europ. Eq.   -54.0
      Grand Prix                    115.0     Excelsior Latin America       -51.4
      Berkshire Capital Gr. & Val.  111.2     State St. Res. Glob. Res. C   -51.1
      
      EQUITY FUND CATEGORIES
      
      Leaders                                 Laggards
      Four-week total return           %     Four-week total return            %
      Japan                         13.5      Small-cap Blend               -4.7
      Diversified Pacific/Asia      12.3      Small-cap Value               -4.7
      Latin America                 12.1      Small-cap Growth              -4.3
      Pacific/Asia ex-Japan         11.5      Real Estate                   -3.6
      Natural Resources             11.2      Mid-cap Blend                 -2.4
      
      Leaders                                 Laggards
      52-week total return             %     52-week total return               %
      Technology                    43.8      Latin America                 -38.6
      Communications                34.9      Diversified Emerging Mktks.   -27.5
      Large-cap Growth              24.9      Natural Resources             -25.0
      Japan                         21.3      Small-cap Value               -23.0
      Large-cap Blend               10.4      Small-cap Blend               -22.0
      
      All data are as of market close Wednesday, Mar. 24, 1999, 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 Mar. 23. 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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