The bulls came charging in this week in TheStreet.com RealMoney Barometer survey.
Of the 1,870 people who voted in the poll, 1,046, or 56%, were bullish. The bears could muster only 383 votes, or 20%. Neutral garnered 441 votes, or 24%.
In the sectors, commercial banks was voted as most likely to rise. Airlines was picked as most likely to fall. Integrated oil was the second-place bullish sector, and homebuilding the second-most bearish.
New Century Financial
filed for Chapter 11 bankruptcy protection Monday, less than a month after Wall Street cut off the struggling mortgage firm's credit.
New Century will cut 3,200 jobs. The company said the cuts will serve "to better align the company's cost structure with the current operating environment and to properly size these businesses in preparation for possible sale."
Laurie Kulikowski writes for
that: "Increased subprime borrower defaults began to upend New Century in the weeks after its March 2 announcement that its accounting was under investigation by federal prosecutors. Its warehouse lenders began squeezing the mortgage lender by asking it to cover margins of more than $150 million and then ultimately cutting its lines of credit, according to its bankruptcy documents."
Economic data will be important this week.
The Institute for Supply Management's report on the nation's factory sector fell to a reading of 50.9 in March from 52.3 in February. Economists were looking for the index to have fallen to 51 last month.
Later this week, the Labor Department's monthly nonfarm payrolls report is due, as well as the latest reading on the ISM's services index.
Crude oil futures for May were up 42 cents to $66.29 a barrel in recent Nymex trading.
Stocks were mixed Monday. In recent trading, the
Dow Jones Industrial Average
was up 9 points to 12,364. The
was trading at 2413, down 9 points. The
was recently trading at 1421, up half a point.
Below are the complete poll results.
David Morrow is editor-in-chief of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He appreciates your feedback;
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