Click here for Stocks in Focus for Monday by MarketWatch
There are a number of economic reports of note and some significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - Monthly Budget Statement
Tues. - Advance Retail Sales, IBD/TIPP Economic Optimism, Business Inventories, weekly retail sales
Wed. - MBA Mortgage Applications, 4Q Current Account Balance, Import Price Index
Thur. - Producer Price Index, Initial Jobless Claims, Empire Manufacturing, Net Lon-term TIC Flows, Philly Fed
Fri. - Consumer Price Index, Industrial Production, Capacity Utilization, Univ. of Mich. Consumer Confidence
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Hertz Global(HTZ), Transaction Systems(TSAI)
Tues. - Dick’s Sporting Goods(DKS), Goldman Sachs(GS), Gymboree Corp.(GYMB), Hansen Natural(HANS), J Crew Group(JCG), Kroger(KR), Revlon(REV)
Wed. - Hibbett Sports(HIBB), Lehman Brothers(LEH), Stage Stores(SSI)
Thur. - Aeropostale(ARO), Bear Stearns(BSC), Claire’s Stores(CLE), Global Crossing(GLBC), Pacific Sunwear(PSUN), Ross Stores(ROST), Tektronix(TEK), True Religion(TRLG), Winnebago(WGO)
Fri. - AnnTaylor(ANN), Carmike Cinemas(CKEC), General Motors(GM), RH Donnelley(RHD), Trex(TWP)
Other events that have market-moving potential this week include:
Mon. - Cowen Healthcare Conference, CSFB Global Services Conference, JPMorgan Internet Conference, (TXN) Mid-quarter Update, (ZQK) analyst meeting, Fed’s Kroszner speaking
Tue. - CSFB Global Services Conference, Cowen Healthcare Conference, Citigroup Small/Mid-cap Conference, Bank of America Consumer Conference, JPMorgan Internet Conference, Treasury’s Paulson hosts conference on futures
Wed. - Cowen Healthcare Conference, Bear Stearns Global Oil & Gas Conference, CSFB Global Services Conference, Morgan Stanley Global Electricity/Energy Conference, Citigroup Small/Mid-cap Conference, (COP) analyst meeting
Thur. - Bank of America Consumer Conference, Morgan Stanley Global Electricity/Energy Conference, Cowen Health Care Conference, Citigroup Small/Mid-cap Conference
Fri. - CSFB Alternative Energy Conference
BOTTOM LINE: I expect US stocks to finish the week modestly higher on mostly positive brokerage sector earnings reports, buyout speculation, lower energy prices, short-covering and bargain-hunting. My trading indicators are giving mixed signals and the Portfolio is 75% net long heading into the week.
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