NEW YORK (Reuters) - head of Stock investors in the next week with added concerns about the sustainability of recent rally and a desire to reduce the risk, as shown in the stampede of products Thursday.
Stocks will also begin to lose the support they enjoyed from stronger than expected earnings since the first quarter report is almost at an end.
The decline of products this week spilled into stocks related to products, which have been among the most energy efficient in the last two quarters.
Energy of the standard & Poor index (.)(PSE) ended the week down 7%, weekly fall more in one year and the iShares Silver Trust (SLV)(P) suffered its worst week ever after heavy losses of precious metal.
While the rout of products can be made for the moment, he left many investors concerned about the ramifications.
"It is difficult to determine the time when the bubble bursts and hard to go against the tide, but when he broke out it is usually precipitous, said Natalie Trunow, senior vice president and investment officer head of the shares in the company of Bethesda, Maryland Calvert asset management"which manages approximately 14.8 billion in assets and energy underweight.
With earnings in the first quarter and, also, of2 to purchase program of the Federal Reserve draws to a close, the stock market may be vulnerable to a weakness in the short term, she said.
"I would not surprised if we had a somewhat softer summer or a little more gentle course of the next few months," said Trunow, who said that it is always positive in the US market in the longer term.
The S & P 500 (.)(SPX) suffered its worst week since March, even with the surprisingly high Friday jobs report which allowed the index to end a losing stripe of four days.
It is now just above critical support to 1,330. A close below that level could "turn the image of bearish medium-term," according to a note from Larry McMillan, President of McMillan analysis Corp..
FEELING ALWAYS OPTIMIST
Despite rested this week, sentiment for the market is positive over the longer term, and technical indicators do not indicate that the market is overbought.
"Our position is still unchanged;" "We still love market," said Jeff Rubin, market strategist at Birinyi Associates in Westport, Connecticut.
A large part of the fundamental picture remains optimistic for stocks, said Hank Smith, investment officer head to Haverford Trust Co. in Philadelphia.
"The economy and evaluations remain attractive," he said. "We remain optimistic, but with any bull market, it is healthy to have rampant.".
Report of Department of the work of Friday, which showed the U.S. employment increases more than expected in April enterprises and United States created jobs at the fastest pace in five years, testified about the underlying strength of the economyanalysts said.
But the work was among the lowest areas, and requests next week unemployment benefit and retail sales data will be watched other indices on the image of jobs and health consumer spending.
In earnings news, a number of retailers should be report next week, including Macy (M.N), Nordstrom (JWN)(N) and Kohl (KSS).(N).
The estimates of income have increased since the beginning of the reporting period. Benefits for S & P 500 companies are now expected to rose 18 percent in the first quarter of the previous year, more than an increase of 13% around early April, according to Thomson Reuters data.
S & P 500 438 companies which have so far, 69 per cent beat analyst earnings expectations. It is approximately at a high rate of beats seen in recent quarters.
Addition of nervousness, a small group of European Finance Ministers were meeting to discuss the crisis in the eurozone debt, and Greece has denied a report by the media speculating on the country plans to leave the euro zone.
Speculation caused stocks to trim some of their Friday gains.
Friday marked the first anniversary of "flash Crash" Wall Street when prices suddenly dived and nearly $ 1 trillion was struck of the value of American actions in a few minutes before that the market bounced.
The crash shook the confidence of investors, but the market regained steam and rallied since about the beginning of September.
The & S P 500 is about 28 per cent since then.
(Additional reporting by Doris Frankel, Kenneth Barry-mounting)
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