Weekly Outlook

Click here for Wall St. Week Ahead by Reuters.

Click here for US Equity Preview for Monday by Bloomberg.

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

Economic reports for the week include:

Mon. – Monthly Budget Statement

Tues. – Producer Price Index, Advance Retail Sales, IBD/TIPP Economic Optimism, Business Inventories, weekly retail sales reports, ABC Consumer Confidence

Wed. – Bloomberg Global Confidence, weekly MBA mortgage applications report, weekly EIA energy inventory data, Consumer Price Index, Empire Manufacturing, Industrial Production, Capacity Utilization, FOMC June 24^th Meeting Minutes

Thur. – Initial Jobless Claims, Net Long-term TIC Flows, Philly Fed, NAHB Housing Market Index, weekly EIA natural gas inventory report

Fri. – Housing Starts, Building Permits

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

Mon. – Fastenal(FAST), CSX Corp.(CSX), Charles Schwab(SCHW), JB Hunt(JBHT), Novellus Systems(NVLS)

Tues. – Goldman Sachs(GS), Altera Corp.(ALTR), Intel Corp(INTC), Yum! Brands(YUM), Johnson & Johnson(JNJ)

Wed. – Wolverine World Wide(WWW), Gannett Co(GCI), Abbott Labs(ABT), Cintas Corp(CTAS), AMR Corp.(AMR), Kinder Morgan(KMP), Xilinx(XLNX)

Thur. – Harley-Davidson(HOG), Biogen Idec(BIIB), Marriott Intl(MAR), JPMorgan Chase(JPM), Intl Business Machines(IBM), PPG Industries(PPG), Google Inc.(GOOG), Baxter Intl(BAX)

Fri. – BB&T(BBT), Mattel(MAT), Citigroup(C), General Electric(GE), Bank of America(BAC), BlackRock(BLK)

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

Mon. – Geithner Meets with British PM Brown and Finance Minister Darling

Tue. – Geithner Visits Saudi Arabia, (DELL) analyst meeting, Oppenheimer Consumer/Gaming/Lodging/Leisure Conference

Wed. – (VRGY) analyst meeting, (KLAC) analyst briefing, (CPB) presentation to securities analysts, Piper Jaffray Cancer Summit, (KLAC) analyst briefing, SEMICON West

Thur. – Geithner Meets Visits French Finance Minister Lagarde, (ELN) shareholders meeting

Fri. – None of note

BOTTOM LINE: I expect US stocks to finish the week modestly higher on less financial sector pessimism, falling long-term rates, short-covering, bargain-hunting and mostly positive earnings reports. My trading indicators are giving mixed signals and the Portfolio is 75% net long heading into the week.