Sunday, July 15, 2007

Weekly Outlook

Click here for The Week Ahead by Reuters.

Click here for Stocks in Focus for Monday by MarketWatch.com.

There are some economic reports of note and a few significant corporate earnings reports scheduled for release this week.

Economic reports for the week include:

Mon.Empire Manufacturing

Tues.Producer Price Index, Net Long-term TIC Flows, Industrial Production, Capacity Utilization, NAHB Housing Market Index, weekly retail sales

Wed.Weekly MBA Mortgage Applications report, Consumer Price Index, Housing Starts, Building Permits, Bernanke Report on Economy & Fed Policy, weekly EIA energy inventory data

Thur.Initial Jobless Claims, Leading Indicators, Philly Fed, Minutes of June 28 FOMC Meeting

Fri.None of note

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

Mon.Charles Schwab(SCHW), Eaton Corp.(ETN), Fossil Inc.(FOSL), JB Hunt Transport Services(JBHT), Mattel Inc.(MAT), Novellus Systems(NVLS), WW Grainger(GWW)

Tues.Adtran(ADTN), Champion Enterprises(CHB), Coca-Cola(KO), CSX Corp.(CSX), Forest Labs(FRX), Intel Corp.(INTC), Jeffries Group(JEF), Johnson & Johnson(JNJ), Keycorp(KEY), Merrill Lynch(MER), Polaris Industries(PII), Regions Financial(RF), SLM Corp.(SLM), State Street(STT), US Bancorp(USB), Wells Fargo(WFC), Yahoo! Inc.(YHOO)

Wed.Abbott Laboratories(ABT), Alliance Data(ADS), Allstate(ALL), Altria Group(MO), Amdocs Ltd(DOX), American Standard Cos(ASD), AMR Corp.(AMR), AO Smith(AOS), Cintas Corp.(CTAS), CIT Group(CIT), Citrix Systems(CTXS), Delta Air(DAL), eBay Inc.(EBAY), Gannett Co(GCI), Intl Business Machines(IBM), Johnson Controls(JCI), JPMorgan Chase(JPM), Juniper Networks(JNPR), Marshall & Ilsley(MI), Noble Corp.(NE), Pfizer Inc.(PFE), Piper Jaffray(PJC), Southwest Air(LUV), Sovereign Bancorp(SOV), St Jude Medical(STJ), Teradyne(TER), United Technologies(UTX), Washington Mutual(WM)

Thur.Advanced Micro Devices(AMD), Bank of America(BAC), Bank of NY(BK), Baxter Intl.(BAX), BB&T(BBT), Broadcom Corp.(BRCM), Capital One Financial(COF), Continental Airlines(CAL), CR Bard(BCR), Dow Jones(DJ), Fairchild Semi(FCS), First Data(FDC), Freescale Semi(FSL), Genuine Parts(GPC), Gilead Sciences(GILD), Google Inc.(GOOG), Harley-Davidson(HDI), Hershey(HSY), Honeywell Intl.(HON), Illinois Toolworks(ITW), ImClone(IMCL), Intl. Rectifier(IRF), Intl. Game Technology(IGT), Intuitive Surgical(ISRG), Kinder Morgan(KMI), Leggett & Platt(LEG), Mellon Financial(MEL), MGIC Investment(MTG), Microsoft Corp.(MSFT), Mokawk Industries(MHK), Motorola(MOT), Nasdaq Stock Market(NDAQ), Nucor Corp.(NUE), Nuveen Inv.(JNC), Oakley Inc.(OO), PNC Financial(PNC), PPG Industries(PPG), Reliance Steel(RS), Safeway Inc.(SWY), SanDisk Corp.(SNDK), Scholastic Corp.(SCHL), Seagate Technology(STX), Sherwin-Williams(SHW), Stryker Corp.(SYK), Sunpower(SPWR), SunTrust Banks(STI), Swift Transportation(SWFT), TD Ameritrade(AMTD), Textron(TXT), Thornburg Mortgage(TMA), UnitedHealth Group(UNH), Wyeth(WYE), Xilinx Inc.(XLNX)

Fri.AC Moore(ACMR), Advent Software(ADVS), Armor Holdings(AH), Avid Tech(AVID), BearingPoint(BE), Boston Scientific(BSX), Caterpillar(CAT), Citigroup(C), Delta & Pine(DLP), Lodgenet(LNET), Medimmune Inc.(MEDI), NVR Inc.(NVR), Schlumberger(SLB), Wachovia Corp.(WB), Whirlpool Corp.(WHR)

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

Mon.SEMICON West

Tue.AG Edwards E&P Conference, SEMICON West, Fed’s Hoenig speaking, (AMAT) Analyst Meeting

Wed.AG Edwards E&P Conference, SEMICON West, (LRCX) Analyst Meeting

Thur.SEMICON West, (SNCR) Media Analyst Event, Fed’s Moskow speaking

Fri.SEMICON West, Fed’s Poole speaking, (SCHW) Business Update

BOTTOM LINE: I expect US stocks to finish the week modestly higher on investment manager performance anxiety, lower long-term rates, diminished sub-prime concerns, lower energy prices, bargain hunting, better-than-expected earnings reports, mostly positive economic data and short-covering. My trading indicators are now giving bullish signals and the Portfolio is 100% net long heading into the week.

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