Weekly Outlook

Click here for Wall St. Week Ahead by Reuters.

Click here for stocks in focus for Monday by MarketWatch.

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. – Monthly Budget Statement

Tues. – Weekly retail sales reports, Import Price Index, Advance Retail Sales, IDB/TIPP Economic Optimism Index, Business Inventories

Wed. – Weekly EIA energy inventory report, weekly MBA mortgage applications report, Consumer Price Index,

Thur. – Initial Jobless Claims, Empire Manufacturing report, Net Long-term TIC Flows, Industrial Production, Capacity Utilization, Philly Fed, NAHB Housing Market Index

Fri. – Housing Starts, Building Permits, Univ. of Mich. Consumer Confidence

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

Mon. – Calpine(CPN), MBIA Inc.(MBI), Standard Pacific(SPF), Sprint Nextel(S), Clearwire(CLWR), Cousins Properties(CUZ), LDK Solar(LDK), Bally Technologies(BYI), Nuance Communications(NUAN), Flour Corp(FLR), Carmike Cinamas(CKEC), JA Solar(JASO), BearingPoint(BE), XM Satellite(XMSR), McDermott(MDR)

Tues. – VeraSun Energy(VSE), Liz Claiborne(LIZ), Wal-Mart(WMT), TJX Cos(TJX), Fossil Inc.(FOSL), Applied Materials(AMAT), Electronic Arts(ERTS), Whole Foods(WFMI), DISH Network(DISH)

Wed. – Freddie Mac(FRE), Jack in the Box(JBX), Ctrip.com(CTRP), Agilent Technologies(A), Teekay Corp.(TK), Sina Corp.(SINA), Deere & Co.(DE), Macy’s Inc.(M)

Thur. – Urban Outfitters(URBN), Blockbuster(BBI), Kohl’s(KSS), BMC Software(BMC), Nordstrom(JWN), Advance Auto Parts(AAP), Blackstone Group(BX), Netease.com(NTES), Compuware Corp.(CPWR), Hewlett Packard(HPQ), Autodesk(ADSK), JC Penney(JCP)

Fri. – Abercrombie(ANF), Focus Media(FMCN), Salesforce.com(CRM), PetSmart(PETM)

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

Mon. – Fed’s Lockhart speaking, Fed’s Evans speaking, (RIMM) capital markets day, CLSA China Forum, Goldman Consumer Products Conference, UBS Global Financial Services Conference

Tue. – Fed’s Hoenig speaking, Fed’s Yellen speaking, Fed’s Plosser speaking, Fed’s Warsh speaking, Fed’s Bernanke speaking, Fed’s Pianalto speaking, (GM) conference, (OI) analyst meeting, (JKHY) analyst conference, (SFG) analyst meeting, Goldman Power/Utility Conference, UBS Global Financial Services Conference, Bank of America Healthcare Conference, Robert W. Baird Growth Stock Conference, Merrill Global Metals/Mining/Steel Conference, Merriman Curhan Ford Clean Tech Conference, Morgan Stanley Communications Conference, CSFB Semi/Hardware Conference

Wed. – Fed’s Lockhart speaking, Fed’s Kroszner speaking, Fed’s Rosengren speaking, (AFL) analyst meeting, (NBL) analyst meeting, (ITRI) analyst meeting, (ERIC) capital markets day, Robert W. Baird Growth Stock Conference, CSFB Special Situations Conference, Bank of America Health Care Conference, Merrill Lynch Global Metals/Mining/Steel Conference, CSFB Semi/Hardware Conference, Morgan Stanley Communications Conference, UBS Global Financial Services Conference, Goldman Power/Utility Conference

Thur. – Fed’s Bernanke speaking, Fed’s Evans speaking, (UNP) analyst conference, (AFL) analyst meeting, (ACS) investor conference, Bank of America Health Care Conference, Robert W. Baird Growth Stock Conference, Canaccord On-Demand Software Conference, Merrill Lynch Global Engineering/Construction Conference, BMO Ag/Protein Conference

Fri. – (ONNN) analyst meeting

BOTTOM LINE: I expect US stocks to finish the week mixed as a stronger US dollar, lower energy prices and mostly positive earnings reports offset hawkish Fed commentary and more shorting. My trading indicators are giving mostly bullish signals and the Portfolio is 75% net long heading into the week.