Economic reports for the week include:
Mon. - ISM Non-manufacturing
Tues. - Non-farm Productivity, Unit Labor Costs, Factory Orders, Pending Home Sales
Wed. - Consumer Credit
Thur. - Initial Jobless Claims,
Fri. - Univ. of Mich. Consumer Confidence, Wholesale Inventories
A few of the more noteworthy companies that release quarterly earnings this week are:
Mon. - JOS A Bank Clothiers(JOSB), United Rentals(URI), BISYS Group(BSG)
Tues. - Autozone(AZO), Comverse Technology(CMVT), Flowserve Corp.(FLS), Kroger Co.(KR), Pall Corp.(PLL), Sears Holdings(SHLD), Dana Corp.(DCN), Hovnanian Enterprises(HOV), Toro Company(TTC), Costco Wholesale(COST)
Wed. - National Semiconductor(NSM), Toll Brothers(TOL)
Thur. - Ciena Corp.(CIEN)
Fri. - Martek Biosciences(MATK), Shuffle Master(SHFL)
Other events that have market-moving potential this week include:
Mon. - Thomas Weisel Security Technology Conference, Bear Stearns Real Estate Conference, CSFB Media Week, Goldman Financial Services CEO Conference
Tue. - Bear Stearns Real Estate Conference, First Albany Growth Conference, UBS Media Conference, CSFB Aerospace/Defense Conference, Citigroup Chemical Conference
Wed. - CSFB Aerospace/Defense Conference, Bear Stearns Commodities Conference, Citigroup Chemicals Conference, UBS Media Conference, First Albany Growth Conference, Lehman Brothers Global Tech Conference, TXN Mid-quarter Update
Thur. - Bear Stearns Commodities Conference, Lehman Brothers Global Tech Conference, CIBC Communications Software Conference, INTC Mid-quarter Update, SG Cowen Internet Conference, CSFB Global Media Week
Fri. - Lehman Brothers Global Tech Conference
BOTTOM LINE: I expect US stocks to finish the week higher on increasing optimism over US economic growth, short-covering, moderating inflation fears and increasing inflows. After a healthy consolidation, the major US indices likely began another push higher late last week. My trading indicators are still giving bullish signals and the Portfolio is 100% net long heading into the week.
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