Bulls Unbowed in Poll
The bullish outlook persists in TheStreet.com Real Money Barometer market survey.
Of the 898 people who took the poll, 408, or 45%, see the market moving higher this week. Twenty-eight percent, or 253, were bearish, with neutral coming in at 26%, or 235 votes. Today's results mark the seventh straight week of bullishness.
In the sectors, precious metals was picked as most likely to rise, with homebuilders seen as most likely to decline.
According to a national survey of mall-based stores, retail sales on Black Friday rose 6% from a year ago to $8.96 billion. The world's biggest retailer, Wal-Mart (WMT), said over the weekend that its same-store sales in November are set to slip 0.1%. Wal-Mart shares were down over a dollar, which was adding to the weakness in the Dow Jones Industrial Average.Recently, the Dow was down 139 points to 12,141, the Nasdaq Composite was off 47 points to 2413 and the S&P 500 was lower by 16 points, to 1385. Today's declines are a continuation of the pullback that ended last week, when rising oil prices and a big decline in the value of the dollar weighed on the major indices. On Friday, the Dow fell 46.78 points, or 0.38%, to 12,280.17, pressured by a selloff in Home Depot (HD). During the same session, the S&P 500 dropped 5.14 points, or 0.37%, to 1400.95, and the Nasdaq was lower by 5.72 points, or 0.23%, to 2460.26. For the week, which was only three and a half sessions because of the Thanksgiving holiday, the Dow fell 62 points, or 0.5%. The S&P 500 was little changed, and the Nasdaq rose 14 points, or 0.6%. The dollar continued its decline against the euro and the yen on Monday. As for Treasuries, the benchmark 10-year note was up 2/32 and the 30-year bond was up 3/32. Crude oil futures were up 44 cents to $59.68 a barrel. Below are the complete poll results.
S&P % Change
|Nov. 27||408 (45%)||253 (28%)||235 (26%)||Precious Metals||Homebuilding|
|Nov. 20||1194 (56%)||351 (17%)||570 (27%)||- 0.02%||Multiline Retail||Integrated Oil|
|Nov. 13||563 (46%)||334 (27%)||328 (27%)||+ 1.5||Precious Metals||Pharmaceuticals|
|Nov. 6||592 (37%)||508 (32%)||504 (31%)||+ 1.2%||Precious Metals||Homebuilding|
|Aerospace and Defense||16||2%|
|Beverages and Food Products||9||1%|
|Computers and Peripherals||54||6%|
|Energy Equipment & Services||40||4%|
|HMOs and Hospitals||11||1%|
|Internet, Software Services||43||5%|
|Investment Bankers and Brokers||34||4%|
|Semis, Semi Equipment||50||1%|
|Tobacco and Alcohol||24||3%|
|Aerospace and Defense||18||2%|
|Beverages and Food Products||22||2%|
|Computers and Peripherals||17||2%|
|Energy Equipment & Services||31||3%|
|HMOs and Hospitals||30||3%|
|Internet, Software Services||21||2%|
|Investment Bankers and Brokers||19||2%|
|Semis, Semi Equipment||40||4%|
|Tobacco and Alcohol||12||1%|
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