Weekly Outlook

Click here for the Weekly Economic Preview 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. – Chicago Purchasing Manager, NAPM-Milwaukee

Tues. – Total Vehicle Sales, ISM Manufacturing, ISM Prices Paid, Construction Spending, weekly retail sales

Wed. – Challenger Job Cuts, ADP Employment Change, Factory Orders, weekly EIA energy inventory data report, weekly MBA Mortgage Applications report

Thur. – Change in Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings, Initial Jobless Claims, ISM Non-Manufacturing Composite

Fri. – US markets closed

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

Mon. – H&R Block(HRB)

Tues. – Oshkosh Corp.(OSK), Constellation Brands(STZ), Schnitzer Steel(SCHN), Apollo Group(APOL)

Wed. – Family Dollar(FDO), Acuity Brands(AYI)

Thur. – None of note

Fri. – US markets closed

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

Mon. – None of note

Tue. – (TDG) analyst day, (CPB) analyst presentation

Wed. – None of note

Thur. – None of note

Fri. – US markets closed

BOTTOM LINE: I expect US stocks to finish the week modestly higher on a firmer US dollar, less economic pessimism, a bounce in emerging market shares, a bounce in financial stocks, bargain-hunting and short-covering. My trading indicators are giving mostly bearish signals and the Portfolio is 75% net long heading into the week.