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
TheStreet Open House

Bulls See Super Week Ahead

Updated from 7:40 a.m. EST

NEW YORK ( TheStreet) -- The major market averages fell last week for the fourth straight time, but the Dow Jones Industrial Average's rally late Friday has put a lift under sentiment turning it bullish to kick off a new trading week.

As of 9:15 a.m., survey-takers who were bullish totaled 51.1%, or 992 of the 1,941 votes cast in TheStreet.com's RealMoney Barometer Poll. Those who were bearish tallied 34.9%, or 677 of the votes cast, while 14%, or 272 participants in the poll were neutral.

Poll-takers chose banks and precious metals to lead the charge for the bulls, with banks holding a slim lead as the sector viewed most likely to rise this week. As far as declining sectors go, metals came in first place, followed closely behind by banks.

With the fourth-quarter earnings season beginning to wind down -- reports are expected this week from the likes of Electronic Arts (ERTS), Pulte Homes (PHM), Walt Disney (DIS), Sprint (S), Coca-Cola (KO) and Viacom (VIA) -- the focus again turns to job creation as President Obama is scheduled to meet Tuesday with leaders in Congress to discuss ways to increase employment and boost the economy. And in his weekly radio address on Saturday, Obama called on Congress to use $30 billion from the Troubled Asset Relief Program to begin a program that would provide loans to small businesses.

It was jobs, as well as European debt concerns, that played a part for a wacky day of trading on Friday. The Dow topped 10,000 at the close, after losing as much as 167 points during the session. For the week, the Dow lost 0.6%, Nasdaq fell 0.3% and the S&P 500 dipped 0.7%.

Earlier in the day Friday the government released mixed messages on the labor picture. The Labor Department said nonfarm payrolls declined by 20,000 in January, when analysts expected a rise of 15,000, but the unemployment rate fell to 9.7% vs. estimates the rate would hold steady at 10%.

In corporate news, CIT (CIT), the commercial lender, named John Thain, former Merrill Lynch chief, as its new chairman and chief executive. Thain is the former chief of Merrill Lynch, which was acquired by Bank of America (BAC) in late 2008.

> > Bull or Bear? Vote in Our Poll

The poll closed at 9:15 a.m.

On Monday in Asia, stocks in Tokyo fell 1.1%, while the Hang Seng in Hong Kong declined 0.6%.



As of 9:15 a.m., Britain's FTSE 100 was mostly unchanged. The DAX in Frankfurt was gaining 0.6%.

1 of 5

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!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

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