Sunday, February 11, 2007

Weekly Outlook

Click here for The Week Ahead by Reuters
Click here for Stocks in Focus for Monday by MarketWatch

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. - Monthly Budget Statement

Tues. - Trade Balance, IBD/TIPP Economic Optimism, weekly retail sales

Wed. - EIA energy inventory data, MBA Mortgage Applications, Advance Retail Sales, Bernanke Report on Economy & Fed Policy, Business Inventories

Thur. - Initial Jobless Claims, Import Price Index, Empire Manufacturing, Net Long-term TIC Flows, Industrial Production, Capacity Utilization, Philly Fed, NAHB Housing Market Index, Bernanke Report on Economy & Fed Policy

Fri. - Producer Price Index, Housing Starts, Building Permits, Univ. of Mich. Consumer Confidence

Some of the more noteworthy companies that release quarterly earnings this week are:

Mon. - Administaff Inc.(ASF), Blue Nile(NILE), Cephalon Inc.(CEPH), CNA Financial(CNA), Grubb & Ellis(GBE), Loews Corp.(LTR),, Yum! Brands(YUM)

Tues. - Altera Corp.(ALTR), Applied Materials(AMAT), Ceridian Corp.(CEN), Coca-Cola Enterprises(CCE), Deere & Co.(DE), KB Home(KBH), Marsh & Mclennan(MMC), Metlife(MET), Nvidia Corp.(NVDA), Omnicom Group(OMC), Weight Watchers(WTW), XTO Energy(XTO), Wyndham Worldwide(WYN)

Wed. - Applebees Intl.(APPB),, Chipotle Mexican Grill(CMG), Coca-Cola(KO), Garmin Ltd(GRMN), Genzyme Corp.(GENZ), Guess? Inc.(GES), Jones Apparel Group(JNY), MGM Mirage(MGM), Network Appliance(NTAP), Nutri/System Inc.(NTRI), Office Depot(ODP), OSI Restaurant(OSI), PF Chang’s(PFCB), Progress Energy(PGN), Transocean(RIG)

Thur. - Agilent Technologies(A), Baker Hughes(BHI), Barnes Group(B), Biogen Idec(BIIB), California Pizza(CPKI), Career Education(CECO), Caremark Rx(CMX), Expedia Inc.(EXPE), Forest Oil(FST), Foundation Coal(FCL), General Motors(GM), Ingram Micro(IM), Reliance Steel(RS),, Syneron Medical(ELOS), Terex Corp.(TEX), Titanium Metals(TIE)

Fri. - Alltel Corp.(AT), Business Objects(BOB), Campbell Soup(CPB), Cleveland-Cliffs(CL), Goodyear Tire(GT), JM Smucker(SJM), Sirius Satellite(SIRI), XM Satellite Radio(XMSR)

Other events that have market-moving potential this week include:

Mon. - UBS Healthcare Conference, Goldman Sachs Housing Conference, Deutsche Bank Small-cap Growth Conference

Tue. - Merrill Lynch Insurance Conference, UBS Healthcare Conference, Merrill Lynch Internet/Software/Services Conference, Goldman Sachs Agricultural Biotech Forum, Deutsche Bank Small-cap Growth Conference, Citi Retail Field Trip and Conference

Wed. - Merrill Lynch Internet/Software/Services Conference, Citi Retail Field Trip & Conference, CSFB Digital Media/Memory/Storage Conference, Deutsche Bank Small-cap Growth Conference, UBS Healthcare Conference, Merrill Lynch Insurance Conference, Piper Jaffray Aircraft Summit, the Fed’s Poole speaking

Thur. - Merrill Lynch Internet/Software/Services Conference, Merrill Lynch Insurance Conference, CSFB Digital Media/Memory/Storage Conference, Piper Jaffray Aircraft Summit

Fri. - Piper Jaffray Aircraft Summit

BOTTOM LINE: I expect US stocks to finish the week mixed as mostly positive economic data, mostly positive earnings reports, buyout speculation, lower energy prices and stable long-term rates offset profit-taking, shorting, more hawkish Fed commentary and sub-prime lending worries. My trading indicators are still giving mostly bullish signals and the Portfolio is 75% net long heading into the week.

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