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. - Advance Retail Sales, Empire Manufacturing, Net Long-term TIC Flows, Business Inventories, NAHB Housing Market Index
Tues. - Consumer Price Index, Housing Starts, Building Permits, Industrial Production, Capacity Utilization, weekly retail sales reports
Wed. - weekly MBA Mortgage Applications report, weekly EIA energy inventory report
Thur. - Initial Jobless Claims, Leading Indicators, Philly Fed.
Fri. - None of note
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Amylin Pharmaceuticals(AMLN), Citigroup(C), Eaton Corp.(ETN), Eli Lilly(LLY), Expeditors Intl(EXPD), Mattel(MAT), Wachovia Corp.(WB)
Tues. - Adtran Inc.(ADTN), American Greetings(AM), Coca-Cola(KO), Comerica Inc.(CMA), CSX Corp.(CSX), Dow Jones(DJ), EMC Corp.(EMC), Intel Corp.(INTC), International Business Machines(IBM), JB Hunt(JBHT), Johnson & Johnson(JNJ), JOS A Banks(JOSB), Keycorp(KEY), Linear Technology(LLTC), M&T Bank(MTB), Marshall & Iisley(MI), Mellon Financial(MEL), Regions Financial(RF), Seagate Technology(STX), State Street(STT), SunTrust Banks(STI), TD Ameritrade(AMTD), Trustmark(TRMK), US Bancorp(USB), Washington Mutual(WM), Wells Fargo(WFC), Yahoo!(YHOO)
Wed. - Abbott Labs(ABT), Alliance Data(ADS), Allstate Corp.(ALL), Bank of NY(BK), CIT Group(CIT), Commerce Bancorp(CBA), CR Bard(BCR), Cymer Inc.(CYMI), E*Trade Financial(ETRD), Gilead Sciences(GILD), Illinois Tools Works(ITW), Illumina(ILMN), JPMorgan(JPM), Motorola(MOT), Novellus Systems(NVLS), Piper Jaffray(PJC), PNC Financial(PNC), Stryker Corp.(SYK), Teradyne Inc.(TER), Tribune Co.(TRB), United Technologies(UTX)
Thur. - Advanced Micro Devices(AMD), American Express(AXP), American Standard(ASD), Amphenol Corp.(APH), AMR Corp.(AMR), Bank of America(BAC), Baxter Intl.(BAX), BB&T(BBT), Capital One Financial(COF), Continental Air(CAL), DR Horton(DHI), eBay Inc.(EBAY), Fairchild Semi(FCS), Fifth Third Bancorp(FITB), First Data(FDC), Gannett Co(GCI), Genuine Parts(GPC), Harley-Davidson(HOG), International Game Tech(IGT), Intuitive Surgical(ISRG), Johnson Controls(JCI), Kinder Morgan(KMI), Kraft Foods(KFT), MDC Holdings(MDC), Merck & Co.(MRK), Merrill Lynch(MER), Mohawk Industries(MHK), Noble Corp.(NE), Nucor Corp.(NUE), OSI Restaurant Partners(OSI), Owens & Minor(OMI), Peabody Energy(BTU), Schering-Plough Corp.(SGP), Sherwin-Williams(SHW), SiRF Tech(SIRF), Southwest Air(LUV), St Jude Medical(STJ), Taubman Centers(TCO), Textron(TXT), Thornburg Mortgage(TMA), Total System Services(TSS), Union Pacific(UNP), UnitedHealth Group(UNH), Wyeth(WYE)
Fri. - Altria Group(MO), Armor Holdings(AH), Bandag(BDG), Briggs & Stratton(BGG), Capstead Mortgage(CMO), Caterpillar Inc.(CAT), Cerner Corp.(CERN), Charles Schwab(SCHW), ChoicePoint(CPS), Comverse Tech(CMVT), Equifax(EFX), Ford Motor(F), Freddie Mac(FRE), General Motors(GM), Google Inc.(GOOG), Hershey Co(HSY), Honeywell International(HON), Hutchinson Tech(HTCH), Leggett & Platt(LEG), Manpower(MAN), Marriott Intl.(MAR), McDonald’s Corp.(MCD), Medimmune(MEDI), Nasdaq Stock Market(NDAQ), Pfizer Inc.(PFE), PMC-Sierra(PMCS), PPG Industries(PPG), Quest Diagnostics(DGX), Reliance Steel(RS), Robert Half(RHI), Rogers Corp.(ROG), Royal Caribbean(RCL), Schlumberger Ltd.(SLB), SLM Corp.(SLM), Sunpower Corp.(SPWR), XTO Energy(XTO)
Other events that have market-moving potential this week include:
Mon. - AG Edwards Media & Entertainment Conference, Fed’s Poole speaking, Fed’s Plosser speaking, Fed’s Fisher speaking
Tue. - CIBC Real Estate Conference, AG Edwards Media & Entertainment Conference, (JCP) analyst meeting, Fed’s Plosser speaking
Wed. - CIBC Energy Conference, AG Edwards Media & Entertainment Conference, (JCP) analyst meeting, (EK) conference call
Thur. - CIBC Energy Conference, AG Edwards Media & Entertainment Conference
Fri. - (PFE) analyst meeting
BOTTOM LINE: I expect US stocks to finish the week modestly higher on better economic data, a firmer US dollar, buyout speculation, better-than-expected earnings reports, lower energy prices, short-covering and bargain-hunting. My trading indicators are now giving bullish signals and the Portfolio is 100% net long heading into the week.
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