NEW YORK (
) --- So what have we this week?
We might as well skip right to Friday since that's when the Labor Department will issue the June jobs report. An economic recovery hinges largely on strength in the job market, and because the report for May was such a disappointment market watchers will be keeping a close eye on the June number. Economists surveyed by
expect that the U.S. economy lost 70,000 jobs in June while the unemployment rate held at 9.7%.
What else do we have? Well,
was passed Friday by a congressional panel and President Obama hopes to have the legislation on his desk to sign by July 4.
The big banks seem to have gotten off relatively easy in Congress. In fact, bank stocks posted handsome gains Friday --
Bank of America
gained 2.7% and
rose 4.2% -- as investors welcomed news that some of the toughest provisions against the banks originally proposed by legislators wouldn't be included in the legislation.
And participants in
Bull vs. Bear poll also think banks will get off unscathed as the commercial banks sector was chosen as the most likely to post gains this week.
Overall sentiment, however, was slightly negative. As of 5 a.m. EDT Monday, participants who were bearish in the poll tallied 214, or 43.6%, of the 492 votes cast in the poll. Bulls scored 207 votes, or 42.1%, while survey-takers who were neutral came in at 71 votes, or 14.4% of the total.
The homebuilding sector was seen as the most likely sector to track to the downside this week.
fell 9% Friday after it reported a
but missed Wall Street expectations and
shares ended lower after it
Stocks took it on the chin last week as the
Dow Jones Industrial Average
fell 2.9% for the week, while
each lost 3.7%.
Premarket futures suggest U.S. stock markets will open slightly higher Monday.
European markets were posting muted gains Monday, while Asian shares ended mixed.
> > Bull or Bear? Vote in Our Poll
The poll closes at 9:15 a.m.
Here's a wrap-up of our other poll this week:
A little more than a month ago we asked investors to give us their perception of where
stock is headed -- and they were bullish. This week, we asked again -- and the bullish sentiment, according to our poll, is as strong as ever.
In our previous survey, spanning the first week of May, 2,330 readers responded to our poll -- with 84.2% believing that there would be much upside left for the stock; 12% taking a wait-and-see approach and 3.8% feeling bearish.
This week, the bullish sentiment continued to burn with fervor, combined with a noticeable increase in the sheer quantity of votes cast. Out of 3,462 votes, 83.5% of readers who responded to our survey said they were bullish on Ford stock and think there's much upside left for it; 12.3% are taking a wait-and-see approach, and 4.2% are bearish.
>>Click here for full results and analysis of our Ford poll
Written by Joseph Woelfel and Ty Wenger in New York