There are a few economic reports of note and some significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - ISM Non-Manufacturing
Tues. - None of note
Wed. - Consumer Credit
Thur. - Initial Jobless Claims, Continuing Claims, Wholesale Inventories
Fri. - Trade Balance, Import Price Index
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Bob Evans Farms(BOBE)
Tues. - Cooper Cos.(COO), Korn/Ferry(KFY),
Wed. - BMC Software(BMC)
Thur. - H&R Block(HRB), JOS A Bank(JOS), National Semi(NSM), Quiksilver Inc.(ZQK), Smithfield Foods(SFD)
Fri. - Bausch & Lomb(BOL), UTi Worldwide(UTIW)
Other events that have market-moving potential this week include:
Mon. - Goldman Sachs Lodging/Gaming/Restaurant/Leisure Conference, JPMorgan Basics & Industrials Conference
Tue. - Piper Jaffray Consumer Conference, JPMorgan Basics & Industrials Conference, Goldman Sachs Lodging/Gaming/Restaurant/Leisure Confernce
Wed. - None of note
Thur. - None of note
Fri. - None of note
BOTTOM LINE: I expect US stocks to finish the week mixed as continuing worries over slower economic growth and high energy prices offset short-covering, bargain hunting and declining long-term rates. My trading indicators are still giving mostly bearish signals and the Portfolio is 75% net long heading into the week.
No comments:
Post a Comment