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 few significant corporate earnings reports scheduled for release this week.

Economic reports for the week include:

Mon. – Pending Home Sales

Tues. – Weekly retail sales reports, Trade Balance, IBD/TIPP Economic Optimism

Wed. – Weekly MBA Mortgage Applications report, Weekly EIA Energy Inventory report, Fed’s Beige Book, Monthly Budget Statement

Thur. – Import Price Index, Advance Retail Sales, Initial Jobless Claims, Business Inventories

Fri. – Consumer Price Index, Univ. of Mich. Confidence

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

Mon. – Pall Corp.(PLL)

Tues. – PEP Boys(PBY)

Wed. – Korn/Ferry(KFY)

Thur. – None of note

Fri. – None of note

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

Mon. – (TXN) Mid-quarter update, Merriman Curhan Ford Consumer Conference, Deutsche Bank Media/Telecom Conference, Goldman Sachs Healthcare Conference

Tue. – (FOE) analyst day, Goldman Healthcare Conference, Piper Jaffray Consumer Conference

Wed. – Needham Biotech/Medical Tech Conference, Piper Jaffray Consumer Conference, Goldman Healthcare Conference, Piper Industrial Growth Conference

Thur. – (CAH) MedTech day, (PPG) analyst meeting, (SYMC) analyst meeting, Goldman Healthcare Conference, Needham Biotech/Medical Tech Conference, Thomas Weisel Alternative Energy Conference, Avondale Behavioral Healthcare Conference

Fri. – (N) analyst meeting

BOTTOM LINE: I expect US stocks to finish the week modestly lower on worries over the damaging effects of the commodities bubble, rising credit market angst, increasing global economic pessimism and more record short-selling. My trading indicators are giving mixed signals and the Portfolio is 75% net long heading into the week.