Investment Figures Of The Week

COMMENTARY

The stock market returned from the Good Friday three-day weekend to rise to a

record level on Apr. 5, on word that the economy was continuing to grow

steadily with little inflation. High-tech stocks, notably Microsoft and

America Online, lead the list of gainers, and the NASDAQ composite index rose

to a record for the first time in two months. The market climbed above 10,000

again on Apr. 7, spurred by gains in financial stocks, notably Citigroup. But

small stocks slumped.

STOCKS

Investment Figures of the Week
Investment Figures of the Week
                                                           % CHANGE
      U.S. MARKETS                       LATEST        WEEK        YEAR
      Dow Jones Industrials            10,085.3        3.1         13.4
      NASDAQ Combined Composite          2544.4        3.4         40.8
      S&P MidCap 400                      362.5       -1.0         -1.2
      S&P SmallCap 600                    158.8       -1.4        -19.8
      S&P SuperComposite 1500             276.0        2.7         17.0
      
                                                           % CHANGE
      SECTORS                            LATEST        WEEK        YEAR
      Bloomberg Information Age           542.9        5.8         63.7
      S&P Financials                      144.9        4.0          6.0
      S&P Utilities                       234.0        0.5         -4.3
      PSE Technology                      517.6        4.1         52.5
      
                                                           % CHANGE
      FOREIGN MARKETS                    LATEST        WEEK        YEAR
      London (FT-SE 100)                 6473.2        2.8          6.9
      Frankfurt (DAX)                    5052.3        3.4         -4.1
      Tokyo (NIKKEI 225)               16,554.5        4.5          1.1
      Hong Kong (Hang Seng)            11,614.9        6.1          2.7
      Toronto (TSE 300)                  6786.7        2.9        -10.4
      Mexico City (IPC)                  5123.1        3.9          4.1
      
                                                  WEEK         YEAR
      FUNDAMENTALS                       LATEST       AGO          AGO
      S&P 500 Dividend Yield               1.21%      1.24%        1.40%
      S&P 500 P/E Ratio (Last 12 mos.)     34.9       34.2         27.9
      S&P 500 P/E Ratio (Next 12 mos.)*    24.5       24.3         21.8
      First Call Earnings Surprise*       12.03%      3.57%        1.53%
      
                                                  WEEK         YEAR
      TECHNICAL INDICATORS               LATEST       AGO          AGO
      S&P 500 200-day average            1155.2     1151.0         Positive
      Stocks above 200-day average         32.0%      32.0%        Positive
      Options: Put/call ratio              0.47       0.48         Negative
      Insiders: Vickers Sell/buy ratio     1.05       1.07         Positive
      
      BEST-PERFORMING           LAST                                   LAST 12
      GROUPS                    MONTH%                                 MONTHS%
      Invest. Banking/Brkrge.   24.9       Specialty Appar. Retailers   95.5
      Domestic Oil              21.1       Communications Equip.        88.9
      Instrumentation           19.8       Computer Systems             86.3
      Communications Equip.     19.5       Semiconductors               73.5
      Computer Software         19.0       Broadcasting                 73.1
      
      WORST-PERFORMING          LAST                                   LAST 12
      GROUPS                    MONTH%                                 MONTHS%
      Engineering & Constr.    -17.6       Oil & Gas Drilling          -51.7
      Tobacco                  -15.8       Machine Tools               -48.1
      Drug Chains              -15.8       Hospital Management         -45.1
      Manufactured Housing     -12.4       Engineering & Constr.       -44.3
      Homebuilding             -10.5       Metal & Glass Containers    -39.8
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                            1-MONTH
      significant buying on price weakness    PRICE               CHANGE
      Micron Technology                       53 3/4              -2 1/4
      Coca-Cola                               59 13/16            -4 3/16
      Gillette                                50                  -7
      Warner-Lambert                          65 7/8              -4 5/8
      Novellus Systems                        61 13/16             - 1/16
      Home Depot                              62 1/4               - 7/8
      
      Decline ahead?  Stocks with most                            1-MONTH
      significant selling on price strength   PRICE               CHANGE
      Microsoft                               94 1/16             14 9/16
      Dell Computer                           46 13/16             1 7/16
      MCI WorldCom                            89  9/16             4 1/64
      Intel                                   130 7/16            10 13/16
      Amgen                                   80                  11 3/4
      Pfizer                                  140 3/16               5/8
      
      INTEREST RATES
                                          LATEST      WEEK         YEAR
                                          WEEK%       AGO%         AGO%
      KEY RATES
      MONEY MARKET FUNDS                   4.47       4.48         5.11
      90-DAY TREASURY BILLS                4.39       4.49         5.07
      6-MONTH BANK CDS                     4.33       4.34         5.06
      1-YEAR TREASURY BILLS                4.66       4.72         5.28
      10-YEAR TREASURY NOTES               5.12       5.25         5.53
      30-YEAR TREASURY BONDS               5.51       5.63         5.84
      LONG-TERM AA INDUSTRIALS             6.46       6.54         6.41
      LONG-TERM BBB INDUSTRIALS            7.12       7.22         6.87
      LONG-TERM AA TELEPHONES              6.67       6.76         6.69
      
      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%        4.27%      4.96%        4.97%
      PERCENT OF TREASURIES        83.37        81.55      90.12        88.37
      TAXABLE EQUIVALENT            6.19         6.19       7.19         7.20
      INSURED REVENUE BONDS         4.35         4.35       5.19         5.21
      PERCENT OF TREASURIES        84.93        83.08      94.30        92.64
      TAXABLE EQUIVALENT            6.30         6.30       7.52         7.55
      
      MUTUAL FUNDS
      
      EQUITY FUNDS
      LEADERS                                 LAGGARDS
      FOUR-WEEK TOTAL RETURN        %         FOUR-WEEK TOTAL RETURN         %
      Van Wagoner Emerging Gr.      37.2      ProFunds UltraShort OTC Inv.  -18.4
      Van Wagoner Technology        33.9      Pacifc Adv. Small Cap C       -11.0
      Monument Internet             33.9      U.S. Global Inv. World Gold   -10.6
      Van Wagoner Micro-Cap         32.4      FPA Paramount                 -10.5
      Van Wagoner Post-Venture      32.4      Rydex Precious Metals         -10.3
      
      LEADERS                                 LAGGARDS
      52-WEEK TOTAL RETURN         %          52-WEEK TOTAL RETURN           %
      Internet                     378.8      Lexington Troika Russia       -74.9
      Amerindo Technology D        202.0      American Heritage             -63.2
      ProFunds UltraOTC Inv.       172.8      Potomac OTC/Short             -53.0
      Munder NetNet A              156.0      State St. Res. Glob. Res. C   -50.1
      Berkshire Capital Gr. & Val. 142.9      Vontobel Eastern Europ. Eq.   -49.9
      
      EQUITY FUND CATEGORIES
      LEADERS                                 LAGGARDS
      FOUR-WEEK TOTAL RETURN        %         FOUR-WEEK TOTAL RETURN         %
      Latin America                 16.5      Precious Metals                -6.7
      Japan                         14.7      Real Estate                    -2.0
      Technology                    12.1      Small-cap Value                -1.9
      Communications                 9.5      Small-cap Blend                -0.7
      
      LEADERS                                 LAGGARDS
      52-WEEK TOTAL RETURN          %         52-WEEK TOTAL RETURN           %
      Technology                    61.9      Latin America                 -30.9
      Communications                41.0      Precious Metals               -28.6
      Japan                         31.5      Natural Resources             -24.8
      Large-cap Growth              28.9      Small-cap Value               -24.1
      Large-cap Blend               12.4      Diversified Emerging Mkts.    -23.5
      
      All data are as of market close Wednesday, Apr. 7, 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 Apr. 6. 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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