Wall Street started the new year with a robust jump, helped by encouraging corporate and economic news that pushed the broad market to a 28-month high. The S&P 500 has now reclaimed nearly 90% of its losses from the bear-market bottom of March 2009.
A quiet week for earnings, along with new reports on consumer credit, consumer sentiment, economic optimism, wholesale trade, the U.S. trade balance and federal budget balance, should give the stock markets a chance to settle down after last week's volatility.
We started with Citi Investment Research's top global retail picks for an "hourglass" recovery (benefiting retailers on the high and low ends). After drilling down into the fundamentals and valuations, here are our five favorites.