×

This Week On Wall Street

In a week marked by mixed housing news, a major move up in oil prices and what many assumed would be an somewhat anticlimatic Fed policy meeting, stocks rallied as if the heady ways of the record-breaking days of late 2006-2007 were back on Wall Street.

The Dow opened the week in style with a 115-point gain -- at the time, its second biggest of the year -- with nary a second in the red for the day, as a spate of deals spuirred investors.

Tuesday brought a gain half that size. Interestingly , volume on both days was below the three billion shares of recent weeks and closer to the average turnerover before the Feb. 27 selloff.

The sizable back-back gains were unusual for the market going into a Fed meeting.

Fed To The Rescue

Wednesday brought the typical narrow trading range for most of the session, but the conclusion of the two-day March FOMC meeting yielded a decision and policy statement that in keeping with the Ben Bernanke Fed took investors by surprise -- in a more than pleasant way, this time. Volume surged, as well, reaching about 3.2 billion shares

The Dow surged 159 points -- posting its second triple-digit gain of the week and biggest in eight months -- after investors concluded that the FOMC had moved to a neutral bias because it dropped policy language about any further tightening, even though it acknowledged that the "predominant policy concern remains the risk that inflation will fail to moderate as expected."

The S&P 500 and the Nasdaq Composite power back into possitive territory, while the Dow hits ends the session just below break-even on the young year on a day where -- fittingly enough -- the Shanghai market capped its comeback from February's 11% selloff by closing at a new record high.

Tail Wind Blows On Wall Street

Some pundits called Wednesday a relief rally, but on the fourth day the markets rested, with the blue-chip index bouncing around the break-even line.The mortgage industry crowded the news agenda Thursday. In Charlotte, North Carolina Fed bankers were focusing on risk at a credit markets symposium while in Washington, DC, the Senate Banking Committee hed hearings on the subprime meltdown. That depressed financials, while Motorola's severe profit warning late Wednesday weighed on the tech sector.

Nevertheless, the Dow managed a small gain, extending its winning streak to four sessions, adding to investor confidence that the worst is over.

Friday brought another gain, even as oil prices made a run at $63 a barrel. The Dow 30 traded in a tight 60-plus point range, closing at 12,481.01, a fraction above its 2006 closing level of 12,463.15.

Econorama Ahead

As the Dow caps its best weekly gain in eight months, traders are already looking ahead to a flood of economic reports including the first data for March in the form of the Chicago Purchasing Managers Index, as well as a key inflation gauge for the Fed, the PCE index. First-quarter earnings season will aslo loom with Alcoa scheduled to report Tuesday, April 10.

Monday

The Week Ahead

After stocks posted a disappointing finish in the previous week, Phil Orlando, Federated Investors chief equity market strategist, shares his outlook on an M&A heavy with Becky Quick.

A Good Start

A positive open but still plenty of reasons for inbvestoirs to be looking over their shoulders at the selloff of three weeks ago. Peter Anderson, Dreman Value Mgmt. portfolio manager, and Sam Stovall, S&P chief investment strategist, discuss whether the correction is over with Liz Claman.

Easy Being Green

With stocks solidly in the black, Bob Turner, Turner Core Growth Fund manager, and Art Hogan, Jefferies managing director, explain what's bringing buyers back into the market with Erin Burnett.

Don't Take It To The Bank

Now might be the time to dump financials and buy materials, John Manley, Smith Barney Private Client Group managing director & strategis, tells Maria Bartiromo.

Show Of Strength

After a triple-digit gain, David Kotok, Cumberland Advisors CIO, and David Sowerby, Loomis Sayles & Co., chief market analyst & portfolio manager, debate whether the rally is here to stay with Melissa Francis.

Tuesday

Enter The Fed

The FOMC begins two days of policy discussions and Mike Ryan, UBS Wealth Mgmt. head of research, tells Joe Kernen a rate cut is coming in the second half of the year.

Where To Put It

With all the uncertainty about the state of the economy right now, what should investors be doing with their money? David Stepherson, Hardesty Capital Mgmt. sr. portfolio manager, and Steve Lord, Trend Investment Group CIO, share their insight with CNBC's Michelle Caruso-Cabrera.

Keep Your Eye On Earnings

The markets continue to watch the mortgage mess but earnings may still be the real catalyst for a comeback, with Scott Billeadeau, Fifth Third Asset Management managing director of small & mid-cap growth strategies (FSMCX); Les Satlow, Cabot Money Management portfolio manager and CNBC's Bill Griffeth.

Two In A Row

After investors follow through with another gain on Tuesday, Seth Tobias, Circle T Family of Funds general partner, and Michael Cuggino, Permanent Portfolio Funds president & portfolio manager, talk about what's next with Larry Kudlow.

Wednesday

House Divided

The recent market sell-off was a an overreaction to subprime and housing, according to David Bianco, UBS U.S. equities strategist. He shares his view with CNBC's Mark Haines.

Fed Sends A Message (Or Two)

The FOMC's decision to drop language about further firming is interpreted as a move to a neutral stance, triggering a furious rally and heated debate among analysts. Contrarians say the Fed's decision to highlight the threat of inflation means the exact opposite. Brian Wesbury, First Trust Advisors chief economist; James Bianco, Bianco Research president, read the tea leaves with CNBC's Maria Bartiromo.

Rally Round The Fed

The stock market roared as the Fed printed a defacto easing move, with Wendell Perkins, Johnson Family of Funds CIO; Jason Trennert, Strategas Research Partners LLC chief investment strategist & managing partner; Douglas Kass, Seabreeze Partners Management president; Kathleen Camilli, Camilli Economics founder & principal; CNBC's Bob Pisani and Larry Kudlow.

Thursday

Thanks Ben, Now What?

The market is coming off its biggest three-day gain since last June, after the Fed issued a statement that sent the Dow up almost 160 points and sent the Nasdaq and S&P back into the black for 2007. T.J. Marta, RBC Capital Markets economist, and Alec Young, S&P equity market strategist, share their outlooks with Joe Kernen.

Second Guessing The Fed

Thursday's trading brings no follow through, as stock prices pretty much stand still. The Fed's decision, however, continues to produce debate. Robert Brusca, Fact and Opinion Economics chief economis, and David Wyss, S&P chief economist, argue half-empty and half-full with Michelle Caruso-Cabrera.

Four In A Row

The Dow manges another gain, albeit a small one, prompting more optimism about the outlook for stocks. Larry Kantor, Barclays Capital co-head of research and Dennis Gartman, The Gartman Letter founder share their thoughts with Melissa Francis

Friday

Forget China, Look At Japan

David Kotok, Cumberland Advisors CIO tells Joe Kernen that investors are overlooking the significance of Japan's interest rate hike and that there's more to come from the Bank of Japan.

All Systems Go

Goldman Sachs' chief U.S. portfolio strategist Abby Joseph Cohen tells Mark haines and Erin Burnett that stocks are looking good; the S&P 500 will hit 1550 this year, inflation is not a problem and the Fed will likely ease.

Two Views On What To Play
Brian Stine, Allegiant Asset Mgmt. investment strategist, and Robert Pavlik, Oaktree Asset Mgmt. CIO, share their investment strategies with Dylan Ratigan. Pavlik for example, says consider beaten-down financials and large-caps. Stine, on the other hand, says go for tech and have diversified exposure overseas.