Weekly Outlook

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There are a few economic reports of note and several significant corporate earnings reports scheduled for release this week.

Economic reports for the week include:

Mon. – None of note

Tues. – IDB/TIPP Economic Optimism, weekly retail sales reports

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

Thur. – Trade Deficit, Initial Jobless Claims, Monthly Budget Deficit

Fri. – Import Price Index, Advance Retail Sales, Univ. of Mich. Consumer Confidence, Business Inventories

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

Mon. – Energy Conversion Devices(ENER), American International Group(AIG), Starbucks(SBUX), Tyson Foods(TSN), DISH Network(DISH), Pilgrim’s Pride(PPC), Sirius XM Radio(SIRI)

Tues. – Fossil Inc.(FOSL), Liz Claiborne(LIZ), TJX Cos.(TJX), Intrepid Potash(IPI)

Wed. – NetApp Inc.(NTAP), Macy’s Inc.(M), Applied Materials(AMAT), Las Vegas Sands(LVS)

Thur. – Urban Outfitters(URBN), Kohl’s Corp.(KSS), Nordstrom(JWN), JC Penney(JCP), Wal-Mart Stores(WMT)

Fri. – Abercrombie & Fitch(ANF), Agilent Technologies(A), Nuance Communications(NUAN)

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

Mon. – (HLS) Investor Day, (MVSN) Investor Day, Rodman & Renshaw Investment Conference

Tue. – (PCL) Analyst Day, (BBX) Reception, (STR) Analyst Meeting, (SPWRA) Analyst Day, (FISV) Investor Conference, (UNM) Analyst Meeting, (VMED) Analyst Meeting, (SNS) Analyst Meeting, Rodman & Renshaw Investment Conference, Robert W. Baird Industrial Conference, DB-Biotech Boston Confab, Merrill Banking/Financial Services Conference, UBS Building Conference, Piper Internet Summit

Wed. – (AVCT) Analyst Day, (ACN) Analyst Conference, (STR) Analyst Meeting, (RFMD) Analyst Meeting, (CMI) Analyst Day, (HAS) Analyst Meeting, (BBX) Investor Luncheon, (NKTR) Analyst Meeting, Merrill Banking/Financial Services Conference, UBS Building Conference, Rodman & Renshaw Investment Conference, Robert W. Baird Industrial Conference, CSFB Healthcare Conference, Merrill Defense Forum

Thur. – (QCOM) Analyst Meeting, (BRY) Investor Day, (IWOV) Analyst Day, (SYMM) Analyst Meeting, (TLAB) Investor Conference, (GPRO) Analyst Day, (ULBI) Analyst Meeting, (AMD) Analyst Day, Bank of America Energy Conference, BMO Capital Interactive Entertainment Conference, Merrill Banking/Financial Services Conference, CSFB Healthcare Conference, Needham Telecom Conference

Fri. – CSFB Healthcare Conference

BOTTOM LINE: I expect US stocks to finish the week modestly higher on an end to political uncertainty, seasonal strength, bargain-hunting, technical buying, less credit market angst, diminishing financial sector pessimism, less forced selling and short-covering. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.