Weekly Outlook

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

Economic reports for the week include:

Mon. – None of note

Tues. – Weekly retail sales, IBD/TIPP Economic Optimism, Monthly Budget Statement

Wed. – Weekly MBA mortgage applications, weekly EIA energy inventory data, Import Price Index, Advance Retail Sales, Business Inventories

Thur. – Producer Price Index, EIA natural gas inventory report, Initial Jobless Claims, Empire Manufacturing, Philly Fed.

Fri. – Consumer Price Index, Net Long-term TIC Flows, Industrial Production, Univ. of Mich. Consumer Confidence

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

Mon. – Alcoa Inc.(AA), Charles Schwab(SCHW)

Tues. – Linear Technology(LLTC)

Wed. – Xilinix Inc.(XLNX), AMR Corp.(AMR)

Thur. – Marshall & Ilsley(MI), Genentech(DNA), Intel Corp.(INTC), Amphenol(APH), TK Shipping(TK), BlackRock(BLK)

Fri. – PPG Industries(PPG), Johnson Controls(JCI), Sony(SNE)

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

Mon. – The Fed’s Lockhart speaking, Cowen Consumer Conference, JPMorgan Healthcare Conference

Tue. – The Fed’s Bernanke speaking, Fed’s Lacker speaking, (HRB) Investment Conference, (MOS) Analyst Meeting, (MGAM) Analyst Meeting, JPMorgan Healthcare Conference, CSFB Homebuilding Conference, Deutsche Bank Auto Analysts Conference, Cowen Consumer Conference, BMO Capital Unconventional Gas Conference

Wed. – The Fed’s Yellen speaking, Fed’s Plosser speaking, Fed’s Stern speaking, (WAG) Shareholders Meeting, (MON) Shareholders Meeting, (MNKD) Analyst Meeting, CSFB Homebuilding Conference, Deutsche Bank Auto Analysts Conference, Goldman Sachs Energy Conference, JPMorgan Healthcare Conference

Thur. – The Fed’s Lockhart speaking, Fed’s Evans speaking, (MTW) Analyst Day, (MON) Pipeline Review, (AYI) Annual Meeting, Needham Growth Conference, Goldman Sachs Healthcare Conference, Citi Entertainment/Media/Telecom Conference, JPMorgan Tech Forum

Fri. – Fed’s Lacker speaking, (TWX) Shareholders Meeting

BOTTOM LINE: I expect US stocks to finish the week modestly higher on lower mortgage rates, bargain-hunting, short-covering, declining credit market angst and less forced selling. My trading indicators are giving bullish signals and the Portfolio is 75% net long heading into the week.