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. - None of note
Tues. - Consumer Credit
Wed. - None of note
Thur. - Trade Balance, Import Price Index, Initial Jobless Claims, Wholesale Inventories, Univ. of Mich. Consumer Confidence
Fri. - None of note
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Activision(ATVI), AES Corp.(AES), Altera Corp.(ALTR), Cousins Properties(CUZ), El Paso Corp.(EP), Flour Corp.(FLR), Marvel Entertainment(MVL), Netease.com(NTES), XM Satellite Radio(XMSR)
Tues. - Anadarko Petroleum(APC), Beazer Homes(BZH), Dean Foods(DF), Dresser-Rand(DRC), EchoStar(DISH), Emerson Eletric(EMR), Foundation Coal(FCL), Grubb & Ellis(GBE), Intl. Game Technology(IGT), Sara Lee(SLE), Steris Corp.(STE), Wild Oats(OATS), Wynn Resorts(WYNN)
Wed. - BMC Software(BMC), Cablevision(CVC), Cisco Systems(CSCO), Dynegy(DYN), Federated Dept. Stores(FD), Lamar Advertising(LAMR), Landry’s Restaurant(LDRY), News Corp.(NWS/A), Polo Ralph Lauren(RL), Priceline.com(PCLN), Sirius Satellite(SIRI)
Thur. - American Intl. Group(AIG), California Pizza Kitchen(CPKI), Dolby Labs(DLB), Energy Conversion(ENER), Expedia(EXPE), Goodyear Tire(GT), Hansen Natural(HANS), JC Penney(JCP), Kohl’s Corp.(KSS), Mirant Corp.(MIR), Urban Outfitters(URBN)
Fri. - Triarc Cos.(TRY)
Other events that have market-moving potential this week include:
Mon. - Goldman Sachs Software and IT Services Conference, CIBC Healthcare Conference, Fed’s Moskow speaking, Fed’s Pianalto speaking, Fed’s Yellen speaking
Tue. - BMO Nesbitt Burns Interactive Entertainment Conference, CIBC Healthcare Conference, Goldman Sachs Software and IT Services Conference
Wed. - Morgan Stanley Software/Services/Internet/Networking Conference, Robert Baird Industrial Conference, CIBC Healthcare Conference, Goldman Sachs Software and IT Services Conference, Fed’s Moskow speaking
Thur. - Prudential Technology Meetings, Pacific Growth Technology Conference
Fri. - Pacific Growth Technology Conference, Fed’s Bernanke speaking
BOTTOM LINE: I expect US stocks to finish the week modestly higher on less political uncertainty, lower energy prices, seasonal strength, strong corporate profits, investment manager performance anxiety and short-covering. My trading indicators are still giving bullish signals and the Portfolio is 100% net long heading into the week.
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