Jan. 3 - Markets started 2013 off on a high note, but will the momentum continue? Top fund managers see reason to be optimistic and say that the technology and housing sectors will lead the rebound.
Investors couldn't get their hands stocks fast enough during the first trading day of the new year. Well most enjoyed a broad based rally to start off 2013. There are some sectors that will likely outshine others this year. -- and it -- Hennessy funds that -- team investors should play the housing recovery. Home sales rose more than 9% in 2012. And home prices also edged higher. Hope surged more than 50% last year and had if he believes the rally isn't exhausted yet. You look at some and homebuilders. Meaning you look at Mary Todd archer KB homes or something standard. That we think you're gonna do well as the inventory on existing homes goes away. And it's not just the whole -- that will benefit. -- he says the housing rebound will lift other stocks. There's been a lauded deferred maintenance. On homes that people all. -- to be leaning. It could be carpet they could be new cabinets. New features in -- house she could do that we would -- mole on tour out here one. -- -- that should attract the attention of investors this technology. While several lightning tech stocks faltered in the last quarter 2012. Sending the group down 6%. Fund manager Jim watt says technology what was the market leadership this year tech. Analogy always -- worldwide economic growth in both developed and developing countries companies like. IBM Microsoft. You don't wanna be too exciting you wanna be slow steady dull but reliable. Market watchers are taking a more bullish outlook on stocks now that congress has reached a short term agreement on taxes. At this December dip in confidence head -- he believes the consumer will be back in the game this month which should benefit retailers. Sales -- probably picked up in January his tons of store sales. It's it's always been my philosophy. That the people we're gonna spend their money. Of course the big wildcard for stocks the consumers spend their money on equities this year. Many retail investors shot away from the stock market in 2012. Despite a festive 13% gain for the S&P. Have to get all those investors who jumped into the market on the first day of January. Decide to stay there I'm rob the shop there this is writers.