duminică, 27 martie 2011

RPT-Wall St Wk Ahead: Hot sectors, jobs on investors' radar

birou notarial


(Repeating column initially transmitted late on Friday)

* U.S. stock indexes post gains for the week

* Window dressing to help; energy top performer

* Key U.S. government jobs report on Friday

By Caroline Valetkevitch

NEW YORK, March 27 (Reuters) - U.S. stock investors could scramble to pick up some of the market's recent best performers this week as the quarter comes to an end, putting the spotlight on energy and industrial companies.

But worries about Japan, the Middle East and oil prices will persist and keep uncertainty high, analysts said, even as the VIX, the CBOE Volatility Index .VIX, slid 27 percent over the past week.

Another driver could come from economic data, with the U.S. government's March payrolls report -- the most widely watched economic indicator of the month -- due on Friday.

Economic data lately has taken a backseat to geopolitical events, with Japan's massive earthquake and tsunami sparking fears of a nuclear disaster in the country and driving the most recent pullback in stocks.

But many expect window dressing, where fund managers sell stocks with big losses and buy ones with big gains to spruce up their portfolio's quarterly performance, to dominate trading.

"I think a number of people viewed the harshness of the sell-off as an opportunity to pick up some inappropriately punished stocks," said Michael Strauss, chief economist of Wilton, Connecticut-based Commonfund.

The strategy contributed to a bounceback late last week, with the Dow Jones industrial average .DJI and Nasdaq .IXIC posting their best weeks since July. The benchmark Standard & Poor's 500 .SPX had its best week since early February.

Analysts say the stock market's recent performance has been strongly influenced by expectations for the upcoming earnings reporting period, which kicks off the second week of April.

Oracle's upbeat outlook late Thursday and its stock's 1.6 percent rise on Friday is one example of that, while the energy sector has benefited from the view that the run-up in oil prices will mean stronger-than-anticipated results for producers and refiners.

KING OIL

Energy, up about 14 percent since the start of the quarter as measured by the S&P energy index .GSPE, is by far the sector with the biggest gains for the quarter to date.


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