There are a number of economic reports scheduled for release this week. There are also several notable U.S. companies due to report earnings. Scheduled economic reports include Advance Retail Sales, Business Inventories, Consumer Price Index, Empire Manufacturing, Initial Jobless Claims, Philadelphia Fed, Housing Starts, Industrial Production, Capacity Utilization and U. of Mich. Consumer Confidence. Advance Retail Sales, Consumer Price Index and U. of Mich. Consumer Confidence are the most important releases this week.
Intel(INTC), Johnson & Johnson(JNJ), Merrill Lynch(MER), Citigroup(C), Apple Computer(AAPL), Bank of America(BAC), Delta Air(DAL), Harley-Davidson(HDI), Texas Instruments(TXN), EMC Corp.(EMC) and IBM(IBM) are some of the more important companies that release quarterly earnings this week.
BOTTOM LINE: The numerous economic and corporate earnings reports on tap this week should continue to paint a positive picture of the current state of the U.S. economy. I expect stocks to rise barring a worsening of the situation in Iraq or a significant rise in energy prices.
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