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. - None of note
Tues. - Wholesale Inventories
Wed. - Sept. 20 FOMC Minutes
Thur. - Trade Balance, Initial Jobless Claims, Fed’s Beige Book
Fri. - Import Price Index, Advance Retail Sales, Univ. of Mich. Consumer Confidence, Business Inventories
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Cheesecake Factory(CAKE)
Tues. - Alcoa(AA), Chattem(CHTT), Genentech(DNA)
Wed. - Gannett Co.(GCI), Lam Research(LRCX), M&T Bank(MTB), Monsanto(MON), Progressive Corp.(PGR), Ruby Tuesday(RI)
Thur. - Apollo Group(APOL), Fastenal Group(FAST), Genzyme Corp.(GENZ), Harley-Davidson(HDI), MGIC Investment(MTG), Polaris Industries(PII), Winnebago Industries(WGO)
Fri. - General Electric(GE), JB Hunt Transportation(JBHT), Regions Financial(RF)
Other events that have market-moving potential this week include:
Mon. - None of note
Tue. - (SPLS) Analyst and Investor Conference, (CVS) Sept. Sales release, (CIEND) Analyst Day
Wed. - Fed’s Bies speaking, Fed’s Lacker speaking
Thur. - (WEN) Analyst Meeting, Fed’s Beige Book, Fed’s Moskow speaking
Fri. - None of note
BOTTOM LINE: I expect US stocks to finish the week modestly higher on lower energy prices, short-covering, investment manager performance anxiety, 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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