Sunday, July 29, 2007

Weekly Outlook

Click here for Economic Preview by MarketWatch.com.

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

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

Economic reports for the week include:

Mon. – None of note

Tues. – Personal Income, Personal Spending, PCE Deflator, 2Q Employment Cost Index, S&P/CS Composite Home Price Index, Chicago Purchasing Manager, Consumer Confidence, Construction Spending, weekly retail sales

Wed. – Weekly MBA Mortgage Applications report, weekly EIA energy inventory report, Challenger Job Cuts, ADP Employment Change, Pending Home Sales, ISM Manufacturing, ISM Prices Paid, Total Vehicle Sales

Thur. – Initial Jobless Claims, Factory Orders

Fri. – Change in Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings, ISM Non-Manufacturing

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

Mon. – Anadarko Petroleum(APC), Andrew Corp.(ANDW), Archer-Daniels-Midland(ADM), CB Richard Ellis(CBG), CNA Financial(CNA), Humana(HUM), Loews Corp.(LTR), Monster Worldwide(MNST), Pitney Bowes(PBI), Post Properties(PPS), RadioShack(RSH), Tyson Foods(TSN), Verizon Communications(VZ), Vulcan Materials(VMC)

Tues. – Automatic Data Processing(ADP), Avon Products(AVP), Buffalo Wild Wings(BWLD), Cephalon(CEPH), Chipotle Mexican Grill(CMG), Coach Inc.(COH), Diebold(DBD), DreamWorks(DWA), General Motors(GM), Hilton Hotels(HLT), IAC/InterActiveCorp.(IACI), ImClone Systems(IMCL), Liz Claiborne(LIZ), Marathon Oil(MRO), Masco Corp.(MAS), MetLife Inc.(MET), Nymex Holdings(NMX), Ruth’s Chris(RUTH), Safeco(SAF), Shaw Group(SGR), St. Joe(JOE), Under Armour(UA), Valero Energy(VLO), WebMD Health(WBMD), Whole Foods(WFMI)

Wed. – Administaff(ASF), Alltel Corp.(AT), Applebees(APPB), Boyd Gaming(BYD), CA Inc.(CA), Cigna(CI), Computer Sciences(CSC), Devon Energy(DVN), Dolby Labs(DLB), Dominion Resources(D), Electronic Arts(ERTS), Garmin(GRMN), Given Imaging(GIVN), GlobalSanataFe(GSF), Kraft(KFT), Martha Stewart(MSO), Mastercard(MA), OfficeMax(OMX), Prudential Financial(PRU), Starbucks(SBUX), Time Warner(TWX), Transocean(RIG), Walt Disney(DIS), Wynn Resorts(WYNN)

Thur. – Barnes Group(B), Clorox(CLX), Eastman Kodak(EK), Expedia(EXPE), Intl. Rectifier(IRF), International Paper(IP), Lear(LEA), MGM Mirage(MGM), Newmont Mining(NEM), NYSE Euronext(NYX), Rowan Cos(RDC), Starwood Hotels(HOT), Timberland(TBL)

Fri. – Armor Holdings(AH), Procter & Gamble(PG), Weyerhaeuser(WY)

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

Mon. – None of note

Tue. – Keefe, Bruyette & Woods Community Bank Investor Conference, (LSI) Analyst Day

Wed. – Keefe, Bruyette & Woods Community Bank Investor Conference, BOE Policy Meeting

Thur. – CIBC Communication Tech Conference, ThinkEquity Partners ThinkBIG Conference, BOE Policy Meeting, ECB Policy Meeting

Fri. – None of note

BOTTOM LINE: I expect US stocks to finish the week modestly higher on better-than-expected earnings reports, mostly positive economic data, bargain-hunting, lower energy prices and short-covering. My trading indicators are giving neutral signals and the Portfolio is 75% net long heading into the week.

No comments: