Assessing February's Gains
It's no surprise that volume on the NYSE is light today, given the massive amounts of snow outside.
Miller Tabak's Peter Boockvar noted that NYSE consolidated volume so far today is on track to be the quietest of the year.
But on the whole as we wrap up another month in 2010, it wasn't a bad February with the S&P 500 likely to show its best month since 1998. In February 2009, the S&P lost 11%!
One of our regular guests Rich Peterson of Standard & Poor's crunched some numbers for us and the sectors that showed the biggest gains in February were consumer discretionary, materials, industrials, information technology and consumer staples.
Jack Ablin, Chief Investment Officer of Harris Private Bank thinks that February offered a dramatic reversal from the headline worries of January, with investors focusing on earnings, fundamentals and incremental economic improvement. He thinks the markets still look fairly priced.
Peter Misek, Strategist at Canaccord Adams meanwhile, sees the credit markets settling back down. He's also starting to look at the cash bond market as it starts to diverge from the CDS market. Misek thinks sovereign risk is likely to settle down and while he isn't overly concerned about Greece, he's watching Spain very closely.
Tune in to Closing Belltoday as our market experts weigh in with their investment strategy for March.
Liza Tan contributed to this article.
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