There are some economic reports of note and a number of significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - Empire Manufacturing, Net Foreign Security Purchases, NAHB Housing Market Index
Tues. - Producer Price Index, Housing Starts, Building Permits, March 28 FOMC Minutes
Wed. - Consumer Price Index
Thur. - Initial Jobless Claims, Leading Indicators, Philly Fed
Fri. - None of note
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Brown & Brown(BRO), Citigroup(C), Eaton Corp.(ETN), Genuine Parts(GPC), JB Hunt(JBHT), Knight Ridder(KRI), Marshall & Ilsle(MI), SunTrust Banks(STI), Wachovia Corp.(WB)
Tues. - Adtran(ADTN), Allstate(ALL), Amgen Corp.(AMGN), AmSouth Bancorp(ASO), Boston Scientific(BSX), CR Bard(BCR), DR Horton(DHI), Everest Re(RE), Fifth Third(FITB), Freeport-McMoRan(FCX), Gilead Sciences(GILD), IBM(IBM), Johnson & Johnson(JNJ), Keycorp(KEY), Linear Tech(LLTC), Mattel(MAT), Merrill Lynch(MER), Motorola(MOT), Peabody Energy(BTU), Seagate Technology(STX), State Street(STT), Texas Instruments(TXN), UnitedHealth(UNH), Washington Mutual(WM), Wells Fargo(WFC), Yahoo!(YHOO)
Wed. - Abbott Labs(ABT), AMR Corp.(AMR), Apple Computer(AAPL), Comerica(CMA), CDW Corp.(CDWC), CIT Group(CIT), Coca-Cola(KO), Comerica(CMA), CSX Corp.(CSX), E*Trade(ET), eBay(EBAY), General Dynamics(GD), Intel Corp.(INTC), JPMorgan(JPM), Juniper Networks(JNPR), Kinder Morgan(KMI), Novellus Systems(NVLS), Pfizer Inc.(PFE), Qualcomm(QCOM), St Jude Medical(STJ), United Technologies(UTX)
Thur. - Altria Group(MO), Bank of America(BAC), Baxter Intl.(BAX), BellSouth(BLS), Broadcom Corp.(BRCM), Cerner Corp.(CERN), Eli Lilly(LLY), EMC Corp.(EMC), First Data(FDC), General Motors(GM), Google(GOOG), Hershey Co.(HSY), Linens ‘n Things(LIN), Merck(MRK), Newmont Mining(NEM), Outback Steakhouse(OSI), Ryland Group(RYL), Southwest Air(LUV), Sprint Nextel(S), United Parcel(UPS)
Fri. - 3M Co.(MMM), Ford Motor(F), Fortune Brands(FO), Genzyme(GENZ), Guidant Corp.(GDT), Halliburton(HAL), Ingersoll-Rand(IR), Maytag(MYG), McDonald’s(MCD), Royal Caribbean(RCL), Schlumberger(SLB), Wyeth(WYE)
Other events that have market-moving potential this week include:
Mon. - World Health Care Congress
Tue. - World Health Care Congress
Wed. - World Health Care Congress, Morgan Stanley Retail Conference
Thur. - Morgan Stanley Retail Conference
Fri. - Morgan Stanley Retail Conference
BOTTOM LINE: I expect US stocks to finish the week mixed as better-than-expected earnings reports offset conservative forward earnings guidance, higher long-term rates and mixed economic data. My trading indicators are giving mostly bullish signals and the Portfolio is 50% net long heading into the week.
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