Sunday, August 19, 2007

Weekly Outlook

Click here for The Week Ahead by Reuters.

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

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

Economic reports for the week include:

Mon. – Leading Indicators

Tues. – Weekly Retail Sales

Wed. – Weekly MBA Mortgage Applications, Weekly EIA Energy Inventory Data

Thur. – Initial Jobless Claims, Continuing Claims

Fri. – Durable Goods Orders, New Home Sales

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

Mon. – Lowe’s(LOW), Perry Ellis(PERY)

Tues. – Affiliated Computer Services(ACS), American Eagle Outfitters(AEO), Analog Devices(ADI), BJ’s Wholesale Club(BJ), Dick’s Sporting Goods(DKS), Jack Henry(JKHY), Medtronic Inc.(MDT), PEP Boys(PBY), Saks Inc.(SKS), Staples Inc.(SPLS), Target Corp.(TGT), Toll Brothers(TOL)

Wed. – Abercrombie & Fitch(ANF), Diebold Inc.(DBD), Eaton Vance(EV), Foot Locker(FL), Gymboree Corp.(GYMB), HOT Topic(HOTT), Intuit Inc.(INTU), JDS Uniphase(JDSU), Ltd Brands(LTD), Men’s Wearhouse(MW), Phillips-Van Heusen(PVH), Ross Stores(ROST), Synopsys(SNPS), Talbots Inc.(TLB), Tech Data(TECD), Tween Brands(TWB), Zumiez(ZUMZ)

Thur. – Aeropostale Inc.(ARO), Barnes & Noble(BKS), Bebe Stores(BEBE), Brocade Communications(BRCD), Children’s Place(PLCE), GameStop Corp.(GME), Gap Inc.(GPS), Hibbett Sports(HIBB), Hormel Foods(HRL), Marvell Tech(MRVL), Pacific Sunwear(PSUN), Patterson Cos(PDCO), Smithfield Foods(SFD), Stage Stores(SSI), Stein Mart(SMRT), Toro Co.(TTC)

Fri. – AnnTaylor Stores(ANN), Burger King(BKC), Genesco Inc.(GCO), HJ Heinz(HNZ), J Crew Group(JCG), Quanex Corp.(NX)

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

Mon. – Oil & Gas Conference

Tue. – The Fed’s Lacker speaking, Oil & Gas Conference

Wed. – (DE) Analyst Meeting, Oil & Gas Conference

Thur. – (DE) Analyst Meeting, (CEG) Analyst Meeting, Oil & Gas Conference

Fri. – None of note

BOTTOM LINE: I expect US stocks to finish the week modestly higher on Fed rate cut speculation, better-than-expected earnings reports, diminishing forced selling, less fear, a weaker yen, lower energy prices, technical buying, bargain-hunting and short-covering. My trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week.

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