This could entice buyers to jump into stocks this week

28.03.2017 / 13:52

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The first quarter comes to an end this week, and that could bring in buyers looking for bargains in some of the beaten-down sectors but also among the winners.

For Tuesday, investors are watching a number of Fed speakers, including Fed Chair Janet Yellen, who speaks on workforce development challenges, and Fed Vice Chairman Stanley Fischer, who appears on CNBC.

"Traders are looking for good entries and thinking we'll have a little bit of a bounce at quarter's end," said Scott Redler, partner with T3Live.com.

In fact, the buying started in tech and moved into some very oversold names, Redler said.

"Technology has been strong. … I think you have to be careful with some of the banks and small caps. They've been a little more bent but still not broken," Redler said. The S&P financial sector is up less than a percent for the quarter, but it has been hit hard lately, and is down 4.3 percent in the past month. Energy is the worst performing sector for the quarter, down nearly 10 percent. Tech is best, up 11 percent.

If history is a guide, stocks could exit March with the wind at their back. April is on average the second best month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA.

The Dow and S&P 500 are both on track for losses this month, with the S&P 500 is down nearly a percent and the Dow off 1.3 percent. They are also both in line for solid gains for the quarter, in their sixth winning quarter in a row.

Stovall said stocks have outperformed solidly in the first quarter. "It was a lot stronger than a normal quarter. Normally, it's up less than half of that. It was stronger, and no matter how you slice it, the market is expensive and I think it's being supported by Trump-im-ism," said Stovall.

Source CNBC

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This could entice buyers to jump into stocks this week

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