Click here for a weekly economic preview by Bloomberg.
Click here for stocks in focus for Monday by MarketWatch.
There are a few economic reports of note and some significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. – None of note
Tues. – Richmond Fed Manufacturing Index, House Price Index, weekly retail sales reports
Wed. – Existing Homes Sales, weekly EIA energy inventory report, weekly MBA mortgage applications report
Thur. – Durable Goods Orders, Initial Jobless Claims, New Home Sales
Fri. – 2Q Final GDP, 2Q Final Personal Consumption, 2Q Final GDP Price Index, 2Q Final Core PCE,
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. – Autozone(AZO), Carmax Inc.(KMX), 3Com Corp.(COMS)
Tues. – Lennar Corp.(LEN), HB Fuller(FUL), Factset Research(FDS), Copart Inc.(CPRT), Worthington
Industries(WOR)
Wed. – Nike Inc.(NKE), Paychex(PAYX), Bed Bath & Beyond(BBBY), Red Hat(RHT)
Thur. – Discover Financial(DFS), Vail Resorts(MTN), Chattem Inc.(CHTT), Scholastic Corp.(SCHL), TIBCO Software(TIBX), Analogic Corp.(ALOG), McCormick & Company(MKC), Texas Industries(TXI), Research In Motion(RIMM)
Fri. – Jabil Circuit(JBL), American Greeting(AM), KB Home(KBH)
Other events that have market-moving potential this week include:
Mon. – (TOMO) analyst and investor presentation, (JSDA) analyst meeting, UBS Global Life Sciences Conference, Deutsche Bank Homebuilding Symposium, RBC Capital Markets Manufacturing/Tech/Services Conference, Thomas Weisel Consumer Conference
Tue. – (PSS) analyst meeting, (SEE) investor day, (JOYG) analyst day, (ARAY) analyst meeting, (SQNM) analyst day, Thomas Weisel Consumer Conference, UBS Global Life Sciences Conference, Merrill Lynch Global Power/Gas Conference
Wed. – (INTU) investor day, (LOW) analyst conference, (STL) investor day, Merrill Lynch Global Power/Gas Conference, UBS Global Life Sciences Conference, Deutsche Bank Leverage Finance Conference, CSFB Global Steel/Mining Conference
Thur. – Fed’s Fisher speaking, Fed’s Warsh speaking, Fed’s Evans speaking, (ORCL) analyst meeting, (NSM) analyst meeting, (EHTH) analyst day, UBS Global Life Sciences Conference
Fri. – Fed’s Bullard speaking
BOTTOM LINE: I expect US stocks to finish the week modestly higher on bargain-hunting, less credit market angst, diminishing financial sector pessimism and short-covering. My trading indicators are giving neutral signals and the Portfolio is 75% net long heading into the week.
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