Investment Figures Of The Week

On May 3, the Dow vaulted the 11,000 barrier with the greatest of ease before

backing off a bit the next day, as the rally in the cyclicals continued and

the base of the the bull rally widened. But for the tech-laden NASDAQ, it was

another story. Since its Apr. 26 high, that index has slumped 4.5%, with the

decline in Internet stocks a lot steeper. The GSTI Internet Index has fallen

13.2% over the same period. Interest rates rose in response to the recent

surge in oil prices. Crude is approaching $19 a barrel, and some experts are

predicting $20 by summer.

Investment Figures of the Week
Investment Figures of the Week
      
                                                           % change
      U.S. MARKETS                             Latest     Week    Year
      Dow Jones Industrials                  10,955.4      1.0    21.0
      NASDAQ Combined Composite                2534.5     -0.6    36.5
      S&P MidCap 400                            400.8      1.3     7.4
      S&P SmallCap 600                          173.3      0.6   -13.6
      S&P SuperComposite 1500                   282.5     -0.1    19.2
      
                                                           % change
      SECTORS                                   Latest     Week    Year
      Bloomberg Information Age                 529.3     -0.1    51.9
      S&P Financials                            147.1     -1.9    11.2
      S&P Utilities                             256.2      2.5     7.1
      PSE Technology                            524.0      0.9    46.2
      
                                                           % change
      FOREIGN MARKETS                          Latest     Week    Year
      London (FT-SE 100)                       6401.7     -3.0     6.8
      Frankfurt (DAX)                          5307.2     -0.8     1.5
      Tokyo (NIKKEI 225)                     16,701.5     -1.4     9.6
      Hong Kong (Hang Seng)                  13,586.2      3.4    34.4
      Toronto (TSE 300)                        7023.6     -1.1    -8.5
      Mexico City (IPC)                        5560.6      1.9    12.8
      
                                                          Week    Year
      FUNDAMENTALS                              Latest    Ago     Ago
      S&P 500 Dividend Yield                     1.21%    1.18%   1.40%
      S&P 500 P/E Ratio (Last 12 mos.)           33.9     34.1    26.7
      S&P 500 P/E Ratio (Next 12 mos.)*          24.5     25.6    21.7
      First Call Earnings Revision*              0.33%    2.39%  -1.01%
      
                                                          Week
      TECHNICAL INDICATORS                      Latest    Ago     Reading
      S&P 500 200-day average                  1174.3   1170.1   Positive
      Stocks above 200-day average               55.0%    51.0%  Neutral
      Options: Put/call ratio                    0.46     0.41   Negative
      Insiders: Vickers Sell/buy ratio           0.83     0.81   Positive
      
      BEST-PERFORMING           LAST                            LAST 12
      GROUPS                  MONTH %                          MONTHS %
      Hospital Management       46.4   Broadcasting                81.5
      Machine Tools             39.1   Specialty Appar. Retailers  72.2
      Metals                    39.0   Communicatons Equip.        71.2
      Gold Mining               38.1   Long-Dist. Telecomms.       66.9
      Aluminum                  37.7   Semiconductors              59.0
      
      WORST-PERFORMING          LAST                            LAST 12
      GROUPS                  MONTH %                          MONTHS %
      Food Wholesalers         -18.8   Manufactured Housing       -42.1
      Computer Software        -14.7   Oil & Gas Drillling        -36.6
      Health-Care Services     -14.1   Engineering & Constr.      -29.4
      Drugs                    -11.5   Machine Tools              -23.9
      Restaurants              -11.5   Metal & Glass Containers   -23.5
      
      BLOOMBERG MONEY FLOW ANALYSIS
      Rebound ahead?  Stocks with most                            1-MONTH
      significant buying on price weakness    PRICE               CHANGE
      America Online                          127 1/8             -39 13/16
      Charles Schwab                          101 3/4              -1 5/8
      Vodafone Group-ADR                      179 3/4             -10 3/8
      Amazon.com                              143                 -43 1/2
      General Electric                        104 15/16            -9 11/16
      Bank of America                          70 7/16             -1 3/16
      
      Decline ahead?  Stocks with most                            1-MONTH
      significant selling on price strength   PRICE               CHANGE
      DoubleClick                             120 15/16            25 3/8
      Qwest Communications Intl.               81  9/16             3 1/2
      Knight/Trimark Group                    132                  60 5/8
      Global Crossing                          54  5/8              9 5/8
      Tellabs                                 115 3/8              11 15/16
      Inktomi                                 108                  17 1/2
      
      Data: Bloomberg Financial Markets; *First Call Corp.
      
                                              LATEST     WEEK      YEAR
      KEY RATES                               WEEK%      AGO%      AGO%
      MONEY MARKET FUNDS                      4.45       4.45      5.09
      90-DAY TREASURY BILLS                   4.58       4.55      5.11
      6-MONTH BANK CDS                        4.34       4.35      5.07
      1-YEAR TREASURY BILLS                   4.74       4.73      5.41
      10-YEAR TREASURY NOTES                  5.39       5.26      5.67
      30-YEAR TREASURY BONDS                  5.70       5.58      5.94
      LONG-TERM AA INDUSTRIALS                6.67       6.54      6.51
      LONG-TERM BBB INDUSTRIALS               7.19       7.13      6.97
      LONG-TERM AA TELEPHONES                 6.93       6.78      6.78
      
      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         4.30%     4.25%         4.99%     4.97%
      PERCENT OF TREASURIES      79.22     82.07         87.47     89.04
      TAXABLE EQUIVALENT          6.23      6.16          7.23      7.20
      INSURED REVENUE BONDS       4.42      4.35          5.23      5.19
      PERCENT OF TREASURIES      81.43     84.00         91.68     92.99
      TAXABLE EQUIVALENT          6.41      6.30          7.58      7.52
      
      EQUITY FUNDS
      LEADERS                                LAGGARDS
      FOUR-WEEK TOTAL RETURN        %        FOUR-WEEK TOTAL RETURN      %
      Montgomery Emerg. Asia R      34.4     Dominion Insight Growth     -14.9
      Rydex Precious Metals         28.2     ProFunds UltraOTC Serv.     -12.6
      Newport Tiger Cub A           26.6     Millennium Growth           -12.4
      Crabbe Huson Special A        26.1     Millennium Growth & Income  -11.7
      GMO Evolving Countries III    26.0     Robertson Steph. Inf. Age A -11.7
      
      LEADERS                                LAGGARDS
      52-WEEK TOTAL RETURN          %        52-WEEK TOTAL RETURN         %
      Internet                     301.0     Lex. Troika Dialog Russia   -68.3
      Amerindo Technology D        199.3     American Heritage           -64.3
      Van Wagoner Technology       130.4     Potomac OTC/Short           -48.6
      Munder NetNet A              122.4     Vontobel Eastern Europ. Eq. -47.4
      Matthews Korea I             121.6     Safeco Sm. Co. Stock Adv. B -44.1
      
      EQUITY FUND CATEGORIES
      LEADERS                                LAGGARDS
      FOUR-WEEK TOTAL RETURN        %        FOUR-WEEK TOTAL RETURN       %
      Natural Resources             19.6     Technology                   -4.4
      Pacific/Asia ex-Japan         19.2     Large-cap Growth             -3.4
      Precious Metals               14.6     Health                       -2.9
      Diversified Emerging Mkts.    13.3     Communications               -0.3
      Real Estate                   11.7     Mid-cap Growth                1.3
      
      LEADERS                                LAGGARDS
      52-WEEK TOTAL RETURN          %        52-WEEK TOTAL RETURN         %
      Technology                    46.5     Latin America               -22.6
      Communications                39.4     Small-cap Value             -16.9
      Japan                         29.0     Precious Metals             -15.8
      Large-cap Growth              23.5     Diversified Emerging Mkts.  -14.3
      Pacific/Asia ex-Japan         15.4     Small-cap Blend             -13.2
      
      All data are as of market close Wednesday, May 5, 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 May 4. 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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