Sunday, August 16, 2009

Weekly Outlook

Click here for Wall St. Week Ahead by Reuters.


Click here for Stocks to Watch Monday by MarketWatch.


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


Economic reports for the week include:


Mon. – Empire Manufacturing, Net Long-term TIC Flows, NAHB Housing Market Index


Tues. – Weekly retail sales reports, Producer Price Index, Housing Starts, ABC Consumer Confidence


Wed. –Weekly MBA Mortgage Applications report, weekly EIA energy inventory report


Thur. – Initial Jobless Claims, Leading Indicators, Philly Fed.


Fri. – Existing Home Sales


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


Mon. – Lowe’s(LOW), Agilent Tech(A), CIT Group(CIT)


Tues. – Cardinal Health(CAH), Saks Inc.(SKS), TJX Cos(TJX), Analog Devices(ADI), Home Depot(HD), Target(TGT), Hewlett-Packard(HPQ)


Wed. – BJ’s Wholesale(BJ), Eaton Vance(EV), Gymboree(GYMB), Synopsys(SNPS), Phillips-Van Heusen(PVH), NetApp(NTAP), PetSmart(PETM), Deere & Co.(DE), Ltd Brands(LTD)


Thur. – Tech Data(TECD), Patterson Cos(PDCO), Sears(SHLD), Dick’s(DKS), Stage Stores(SSI), Ross Stores(ROST), Gap(GPS), Salesforce.com(CRM), Intuit(INTU), Brocade(BRCD), GameStop(GME), Foot Locker(FL), Children’s Place(PLCE), Aeropostale(ARO), Barnes & Noble(BKS), HJ Heinz(HNZ)


Fri. – AnnTaylor(ANN), Cost Plus(CPWM), JM Smucker(SJM)


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


Mon. – None of note

Tue. – (PBR) analyst meeting, (PHM) shareholders meeting


Wed. – None of note


Thur. – (TLEO) analyst day, (VSEA) investor day


Fri. – Fed’s Bernanke speaking, Fed’s Madigan speaking


BOTTOM LINE: I expect US stocks to finish the week mixed as less financial sector pessimism, diminishing economic fear, investment manager performance anxiety and mostly positive earnings reports offset more shorting, Chinese asset bubble concerns and profit-taking. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.

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