Sunday, September 11, 2005

Weekly Outlook

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

Economic reports for the week include:

Mon. - None of note
Tues. - Producer Price Index, Trade Balance, Monthly Budget Statement
Wed. - Advance Retail Sales, Industrial Production, Capacity Utilization
Thur. - Empire Manufacturing, Consumer Price Index, Business Inventories, Initial Jobless Claims, Philly Fed
Fri. - 2Q Current Account Balance, Net Foreign Security Purchases, Univ. of Mich. Consumer Confidence

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

Mon. - Campbell Soup(CPB), Morgan Stanley(MWD)
Tues. - Best Buy(BBY)
Wed. - Lehman Brothers(LEH)
Thur. - Adobe Systems(ADBE), Bear Stearns(BSC), Pier 1 Imports(PIR), Saks Inc.(SKS)
Fri. - Carnival Corp.(CCL), Cintas Corp.(CTAS)

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

Mon. - Bear Stearns Healthcare Conference, ThinkEquity Growth Conference and Deutsche Bank Gaming Investment Forum
Tue. - Bear Stearns Healthcare Conference, ThinkEquity Growth Conference and Deutsche Bank Gaming Investment Forum
Wed. - CSFB Homebuilders Conference and Merrill Lynch Global Pharma, Biotech & Medtech Conference
Thur. - Merrill Lynch Media and Entertainment Conference
Fri. - None of note

BOTTOM LINE: I expect US stocks to finish the week modestly higher. US equities have displayed extraordinary resiliency in recent weeks. I continue to believe a significant intermediate-term move higher in the major averages is underway that will last at least through year-end. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.

No comments: