US stocks set to rise on jobs and profit
By Leah Schnurr |
April 5, 2010, Monday
|
Print Edition
Print Edition
OPTIMISM about an improving labor market and corporate profits could propel United States stocks higher this week as earnings season approaches.
Analysts expect trading at the week's outset to be dictated by last Friday's non-farm payrolls report, which showed the economy added 162,000 jobs in March, the fastest pace of growth in three years. US markets were closed for the Good Friday holiday.
"Things have been getting better. There's no question about it. We've had a remarkable V-shaped recovery since last March," said Alan Valdes, director of floor operations for Kabrik Trading in New York.
The market could have momentum on its side as investors turn their attention to what is expected to be a strong earnings season. The broad Standard & Poor's 500 achieved its fourth consecutive quarterly gain last week and scored its best monthly rise since last July. The Dow has its sights set on the psychologically important 11,000 level, which could be surpassed today if there is enough enthusiasm over the jobs report.
The payrolls data will lend support to markets, as US stock futures rallied in the wake of the release.
Analysts expect trading at the week's outset to be dictated by last Friday's non-farm payrolls report, which showed the economy added 162,000 jobs in March, the fastest pace of growth in three years. US markets were closed for the Good Friday holiday.
"Things have been getting better. There's no question about it. We've had a remarkable V-shaped recovery since last March," said Alan Valdes, director of floor operations for Kabrik Trading in New York.
The market could have momentum on its side as investors turn their attention to what is expected to be a strong earnings season. The broad Standard & Poor's 500 achieved its fourth consecutive quarterly gain last week and scored its best monthly rise since last July. The Dow has its sights set on the psychologically important 11,000 level, which could be surpassed today if there is enough enthusiasm over the jobs report.
The payrolls data will lend support to markets, as US stock futures rallied in the wake of the release.
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