Sunday, April 06, 2008

Weekly Outlook

Click here for the weekly economic preview by Bloomberg.

Click here for stocks in focus for Monday by MarketWatch.

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. – Consumer Credit

Tues. – Pending Home Sales, IDB/TIPP Economic Optimism Index, Minutes of March 18 FOMC Meeting, weekly retail sales

Wed. – Weekly EIA energy inventory report, weekly MBA Mortgage Applications report, Wholesale Inventories

Thur. – Trade Balance, Initial Jobless Claims, ICSC Chain Store Sales, Monthly Budget Statement

Fri. – Import Price Index, U. of Mich. Consumer Confidence

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

Mon. – Alcoa Inc.(AA)

Tues. – Sealy Corp.(ZZ)

Wed. – Shaw Group(SGR), Christopher & Banks(CBK), Circuit City(CC), Bed Bath & Beyond(BBBY), Progressive Corp.(PGR)

Thur. – Genentech(DNA), Pier 1(PIR), Rite Aid(RAD), VeriFone(PAY), Fastenal(FAST)

Fri. – General Electric(GE)

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

Mon. – Fed’s Yellen speaking, Fed’s Kohn speaking, Howard Weil Energy Conference

Tue. – (AWI) analyst meeting, Howard Weil Energy Conference, CSFB Global Real Estate Conference

Wed. – Fed’s Fisher speaking, (WBSN) analyst meeting, (AWI) analyst meeting, CSFB Global Real Estate Conference, Howard Weil Energy Conference

Thur. – (NVDA) analyst day, (EMKR) analyst day, (DNR) analyst meeting, CSFB Global Real Estate Conference, Howard Weil Energy Conference

Fri. – Fed’s Fisher speaking

BOTTOM LINE: I expect US stocks to finish the week modestly higher on a firmer dollar, short-covering, diminishing credit market angst and bargain hunting. My trading indicators are giving bullish signals and the Portfolio is 100% net long heading into the week.

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