U.S. Week Ahead: Despite market highs, don't dive in yet!
Friday, March 01, 2013 - 03:28
Mar 1 - As the Dow and S&P 500 flirt with record highs, one top analyst says it might be time to take a deep breath and not call your broker.
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Can markets smashed through new highs this week. Investors will be watching the Dow and S&P 500 like -- as they flirt with levels not seen in about six years. They both closed higher on Friday. The Dow was about 75 points shy of its record SMP roughly under sixty points. It's owners of stock picker is everywhere but one top analysts says don't jump in just yet. I think CI TO entry point ESP two days 1411415. Meaning. If we're at 1515. Or 15100 right now. I'd rather wait for the market to go lower before I'd rather than buy it at higher prices. And we'll be talking to more strategist throughout this week about whether it's time to hold -- -- Perhaps the most important factor that could help the scales -- Friday's jobs report. According to the latest Reuters poll the economy should have created at 160000. New jobs in February. That's pretty weak given that the average for the last three months is around 200000. But there is some positive news if you look deeper we could see more signs of housing recovery. I'm giving a close -- construction jobs is an indication that the housing market is really getting back on its feet the way we've seen some signs knocked out new home sales earlier this month. Construction jobs have added about 20000 a month over the last several months. And eight months of consistent growth in a row now if we get a knock out number -- that say you know north of thirty into the low thirties. That would be a really strong indication housing is back and its contribution to GDP is gonna be really consistent and a positive this year. We'll also take the pulse of consumer spending with the release retailers' same store sales data out on Thursday. That's -- to show sales growth was cut in half in February rising by just under 2%. To blame higher taxes cutting it to paycheck. Even discounters like Costco and spreads are due weaker than a year ago feel wary of sales coming flat our retail experts say that means shoppers are really feeling the pressure. And how can we forget the water torture of these sequester or. Monday we could get more reaction to the 85 billion dollars worth of cuts from fed vice chair Janet -- When she talks to economist -- Ben Bernanke has already given an unusual direct warning it could threaten future growth. BI and that says belt I mean could it deeply GDP by the percent. Thursday over one million people might be -- Another change to my FaceBook page please. -- giant is unveiling a new look for its -- feed this will be it's second product lines this year following B roll out of -- social search feature in January. One analyst told -- hopefully this will strengthen Facebook's well while business. And failed to wow Wall Street with sales of only 306 million dollars and the fourth quarter pace and it up over to protect. We'll follow us on Twitter at Reuters Insider again more of our great video at Reuters dot com slash writers TV. All we where at these hair out oil and gas conference in Houston Texas. Will speak with -- -- analysts and CEOs about the future of US energy independence. Clarkin Nat gas and take guests and what's the future of renewable like solar and I'm pretty mom this is greater.
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