This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Coming Week: End the Quarter ... Please

Oil has stocks on a slippery slope heading into the quarter-ending, holiday-shortened week.

Investors are focusing on crude right now as it continues a relentless march higher. The steady drumbeat of bad news from the financial-services and housing sectors hasn't helped, either.

"Markets are hanging on one issue: the price of oil," says Vinny Catalano, chief investment strategist at Blue Marble Research. Crude ended last week solidly above $140, and many people believe oil will have to break lower before stocks can make a good upward move.

Oil and oil-services companies such as Exxon Mobil (XOM), ConocoPhillips (COP) and Halliburton (HAL) will also be focal points as long as the market is watching the energy sector.

"The momentum on this latest leg might tire out between here and $145," says Tom Bentz, director and senior energy analyst at BNP Paribas Commodity Futures. "Everybody's looking for $150 a barrel, so I wonder if we'll start to get a lot of speculation built in for $150 -- and sometimes, when everyone's looking for something, the market doesn't give it."

Still, he adds: "It's an uptrend, and it doesn't look like it's ready to stop yet."

Shares are on pace for a terrible June. Indeed, they ended lower last week, with the Dow tumbling 4.2% to 11346.51, the Nasdaq falling 3.8% to 2315.63 and the S&P 500 dropping 3% to 1278.38.

One bit of relief as stocks limp lower: Monday is the last day of the second quarter.

"I don't think there's a portfolio manager in the country, unless they're long energy and short financials, who doesn't want to start the new quarter," says Tony Dwyer, equity-market strategist at FTN Midwest Research.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs