Economic reports for the week include:
Mon. - Consumer Credit
Tues. - None of note
Wed. - Wholesale Inventories
Thur. - Trade Balance, Import Price Index, Initial Jobless Claims, Univ. of Mich. Confidence, Monthly Budge Statement
Fri. - None of note
A few of the more noteworthy companies that release quarterly earnings this week are:
Mon. - El Paso Corp.(EP)
Tues. - Alcan(AL), Cablevision Systems(CVC), EchoStar Communications(DISH), MBIA Inc.(MBI), McKesson Corp.(MCK), Transocean Inc.(RIG)
Wed. - Cisco Systems(CSCO), DR Horton(DHI), Federated Department Store(FD), JDS Uniphase(JDSU), Whole Foods(WFMI)
Thur. - Dell Inc.(DELL), International Game Technology(IGT), Kohl’s(KSS), Pacific Sunwear(PSUN), Target Corp.(TGT), Urban Outfitters(URBN)
Fri. - None of note
Other events that have market-moving potential this week include:
Mon. - CIBC Healthcare Conference, Goldman Software & IT Services Conference, Bear Stearns Smid-Cap Conference
Tue. - Goldman Software & IT Services Conference, Bear Stearns Smid-Cap Conference, CIBC Healthcare Conference
Wed. - Morgan Stanley Global Consumer & Retail Conference, the Fed’s Santomero speaking, the Fed’s Poole speaking, Oppenheimer Restaurant Conference, Citigroup Transportation Conference, CIBC Healthcare Conference, the Fed’s Pianalto speaking
Thur. - Citigroup Transportation Conference, the Fed’s Bies speaking
Fri. - None of note
BOTTOM LINE: I expect US stocks to finish the week modestly higher, spurred by lower energy prices, stabilizing long-term rates, decelerating inflation data, short-covering and increasing optimism. My trading indicators are giving bullish signals and the Portfolio is 100% net long heading into the week.
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