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. - Leading Indicators
Tues. - None of note
Wed. - Initial Jobless Claims, Univ. of Mich. Consumer Confidence
Thur. - US markets closed for Thanksgiving
Fri. - US markets close 1 pm EST
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Activision(ATVI), Affiliate Computer Services(ACS), Avis Budget Group(CAR), Campbell Soup(CPB), Jo-Ann Stores(JAS), Lowe’s(LOW), Medtronic(MDT), Nordstrom(JWN), Phillips-Van Heusen(PVH)
Tues. - Borders Group(BGP), Brown Shoe(BWS), CBRL Group(CBRL), Coldwater Creek(CWTR), Deere & Co(DE), Dollar Tree(DLTR), Eaton Vance(EV), Gamestop(GME), J Crew(JCG), Jack in the Box(JBX), Payless Shoesource(PSS), Perry Ellis(PERY), Tech Data(TECD), United Natural Foods(UNFI)
Wed. - Dell Inc.(DELL), Dollar General(DG), Fred’s(FRED), Genesco(GCO), Hormel Foods(HRL), OSI Restaurant(OSI), Patterson Cos.(PDCO)
Thur. - US markets closed for Thanksgiving
Fri. - US markets close 1 pm EST
Other events that have market-moving potential this week include:
Mon. - Treasury’s Paulson speaking, Fed’s Fisher speaking
Tue. - Fed’s Lacker speaking
Wed. - None of note
Thur. - US markets closed for Thanksgiving
Fri. - US equity markets close 1 pm EST
BOTTOM LINE: I expect US stocks to finish the week modestly higher on diminishing inflation worries, rising consumer spending optimism, 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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