There are some economic reports of note and several significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - Construction Spending, ISM Manufacturing, ISM Prices Paid, Pending Home Sales
Tues. - Total Vehicle Sales
Wed. - ADP Employment Change, ISM Non-manufacturing, Factory Orders
Thur. - Initial Jobless Claims, Continuing Claims
Fri. - Change in Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings, Consumer Credit
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - None of note
Tues. - None of note
Wed. - Arrow Intl.(ARRO), Copart Inc.(CPRT), Stage Stores(SSI), Veritas DGC(VTS)
Thur. - Acuity Brands(AYI), Constellation Brands(STZ), Solectron(SLR)
Fri. - Power Integration(POWI), Schnitzer Steel(SCHN)
Other events that have market-moving potential this week include:
Mon. - None of note
Tue. - Citigroup Ethanol Conference, Fed’s Hoenig speaks
Wed. - Deutsche Bank High Yield Conference, Fed’s Bernanke speaks, Fed’s Geithner speaks, Fed’s Bies speaks, Fed’s Kohn speaks
Thur. - Retail Monthly Same-store-sales, Fed’s Moskow speaks, Fed’s Plosser speaks, Fed’s Pinalto speaks
Fri. - Fed’s Fisher speaks
BOTTOM LINE: I expect US stocks to finish the week modestly higher on lower energy prices, short-covering, bargain hunting, mostly positive economic reports and less pessimism. My trading indicators are still giving bullish signals and the Portfolio is 100% net long heading into the week.
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