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NEW YORK – This is a question as old as invest himself: last good performance?

The Dow Jones industrial average and standard & Poor 500 index are both more than 5 per cent this year, and unless something dramatic ends in the dark.A large portion of gains can be attributed to two sectors: companies that manufacture equipment used in the construction of large projects and hotels, restaurants and stores selling clothing huppées.Chacun is more than 15% for the year.

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Certain stocks in the group are much more. Anyone who has invested in the manufacturer of engines Cummins Inc. at the beginning of January watched investment grow from 100 per cent.Priceline.com Inc. has jumped to about 60%.

Normally, performance would flag rouge.poursuivre past performance is a sin invest, as disposal your chips double dip, everyone is guilty of opportunity. But some fund managers say that this could be a time when it pays to keep investing in stocks that are surpass the market.

Reason: a large part of the world is in a frenzy of construction. And consumers of good jobs begin to spend money once more.

Industrial enterprises benefit from the massive infrastructure spending in emerging markets such as China, the Brazil the India. As each country built roads, tunnels, schools and shopping malls, to respond to a middle class, is often turn to companies American machines, trucks and airplanes.

"The performance of the industrial sector is really a vote of confidence in our ability to export quality products throughout the world," said Nick Calamos, President of Kalamos Asset Management Inc. investment.

Cummins, for example, saw construction equipment sales more than double in the second quarter, mainly due to the projects in China. Caterpillar has expanded its activities in the Brazil and China this year in anticipation of the growth.

The weak dollar may add additional fuel. While a falling dollar can make it more expensive for Americans to travel abroad, it is an advantage for businesses that sell products to international customers whose euro and Yen can buy more money."With a falling dollar, many of these products for these companies is will be cheaper for buyers abroad", said Brian Washkowiak Talon Asset Management.

There may be an opportunity, however slight increase revenues at United States, too.President Obama has recently proposed a draft law which call for $ 50 billion to spend more than six years to rebuild roads, rail and airport runways to United States, which could result in additional dollars for the Union Pacific Corp.., and Deere & co.

Industrial enterprises tend to have strong balance sheets, which means that they are not taking on a lot of debt that could hurt them should growth is not as strong as planned.

"These companies have been very disciplined growth," said Mark Schultz, mountain bike Mid - cap growth Fund Portfolio Manager."If owners have been disciplined than in corporate America, we have fought with half of the questions that are."

Balance sheets of households are a little blurred.High unemployment is persistant.Prix real estate are stagnantes.Et market is still low approximately 20 percent of the 2007 boom era.Why, then, would anyone spend money on something as trivial as a sweater in the Limited?

It is this argument in the first half of 2009 pushed discretionary so-called consumer businesses - who, unlike retailers such as Wal-Mart, take advantage of people Follies.This year, however, many of these companies have done as well as consumers made purchases that they delayed days the darkest of the récession.Consommateurs should spend $ 465 billion this season holidays, or about 3 percent over last year, said Eileen Hoffman, an analyst at Janus Capital Management.Which would bring costs at the same level as 2006 holiday.

The recession also forced many luxury shops and small businesses to close, which has translated into a greater share of the market and profits higher for businesses that have survived.

"" What many people is missing is that they should not seek to overall consumption numbers but strong companies who made "Hoffman said." ""Although the overall number of spending is flat, you'll to gain mass market for those who are still there.?

You only need to go to the mall to see action.Macy is 44% for the year and J.C. Penney Co. is an increase of 27 %.Part teen retailer Abercrombie and Fitch Co. is up to 30%.

History: Investors follow Bank news this week

It is true that the industrial and consumer discretionary stocks tend to be first those that show growth after a recession, which means that their strong performance this year could be considered as something unnoteworthy next October septembre.Si an argument can be made that their gatherings follow a historical pattern and soon advanced.

But there is something else to businesses envisager.Les industrial S & P 500 index are trade both 15.9 their gains expected, which is 20 per cent lower in the category of the average in the 15 years, says Howard Silverblatt, senior analyst index standard and Poor.Actions consumer segment index, meanwhile, are commercial 15.3 times their earnings expected or 34% less than their historical average.

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