Economic reports for the week include:
Mon. - None of note
Tues. - Consumer Credit
Wed. - Wholesale Inventories
Thur. - Initial Jobless Claims
Fri. - Trade Balance, Import Price Index, Monthly Budget Statement
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Quicksilver Inc.(ZQK)
Tues. - Albertson's(ABS), Cooper Companies(COO), Toys R US(TOY)
Wed. - H&R Block(HRB)
Thur. - Martek Biosciences(MATK), National Semiconductor(NSM), Navistar International(NAV)
Fri. - Polo Ralph Lauren(RL), Cyberonics(CYBX), Quality Systems(QSII)
Other events that have market-moving potential this week include:
Mon. - Deutsche Bank Global Retail Conference, Pacific Growth Life Sciences Conference, Fed's Greenspan speaks, Deutsche Bank Media Conference
Tue. - Pacific Growth Life Sciences Conference, Piper Jaffray Consumer Conference, Deutsche Bank Global Retail Conference, Deutsche Bank Media Conference, Merrill Lynch Telecom/Media/Tech Conference, Bear Stearns Tech Conference, Merrill Lynch Global Transport Conference
Wed. - Bank of America Health Care Conference, Piper Jaffray Consumer Conference, CSFB Global Oil/Gas Conference, Bear Stearns Tech Conference, Merrill Lynch Global Transport Conference, Merrill Lynch Telecom/Media/Tech Conference, Pacific Growth Life Sciences Conference, Deutsche Bank Media Confernece
Thur. - Merrill Lynch Global Transport Conference, Goldman Sachs International Business Services Conference, INTC Mid-quarter Update, CSFB Global Oil/Gas Conference, Fed's Greenspan speaks, Merrill Lynch Telecom/Media/Tech Conference
Fri. - None of note
BOTTOM LINE: I expect US stocks to finish the week mixed as profit-taking and global growth concerns offset more optimism for a Fed "pause." Intel's mid-quarter update, energy prices and Greenspan's comments will be the main focus of investors this week. I expect Intel to raise guidance slightly. Greenspan will likely make mixed comments regarding the possibility of an upcoming "pause." Energy prices may rise early in the week, before declining after Wednesday's inventory report. My trading indicators are still giving bullish signals and the Portfolio is 75% net long heading into the week.
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