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Wall Street Week Ahead: Correction talk gets old as rally sails along

With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May - the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries."There isn't a technical level that we have in mind at this point when making decisions. The momentum is really strong, and riding along that momentum is what we should have in mind at this point," said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors in Wilmington, Delaware.The S&P 500, which rose above the 1,600 level only about two weeks ago, is now less than 40 points away from 1,700.As the market continues its...

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  1. BOND REPORT: Treasurys Drop For Third Day After Auction

    Treasurys closed lower after a $32 billion auction of 3-year notes, capping the third straight day of losses for the safe-haven debt.The 3-year note (3_YEAR) yield, ...

  2. BOND REPORT: Treasurys Hold Losses After 3-year Auction

    Treasurys held on to their lower prices after a $32 billion auction of 3-year notes, putting the safe haven debt on track for its third straight day of losses.The 3-...

  3. Creditors Committee Supports Giving ResCap More Time to File Bankruptcy Plan

    Creditors of Residential Capital LLC say they support giving the subprime-mortgage lender more time to control its bankruptcy case, citing progress toward a potentia...

  4. ResCap Seeks More Time to Control its Chapter 11 Case

    With its case at a "crossroads," Residential Capital LLC said it wants until July to file its own plan to reorganize without worrying about rival proposals.In a Frid...

  5. Wilmington Trust Seeks Standing To Sue Ally Financial Over ResCap Claims

    One of Residential Capital LLC's largest unsecured creditors is seeking court approval to sue the mortgage firm's parent, Ally Financial Inc., increasing pressure on...

  6. ResCap Creditors Say They May Pursue Litigation Against Ally Financial

    Residential Capital LLC won't stand in the way of creditors seeking to litigate claims against the mortgage lender's parent, Ally Financial Inc., for actions they sa...

  7. ResCap Seeks to Block AIG, Other Mortgage Investors Over Bankruptcy Claims

    Residential Capital LLC is aiming to block American International Group Inc. (AIG), Allstate Corp. (ALL) and other mortgage-securities investors who are seeking equa...

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