There are some economic reports of note and several significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - Existing Home Sales
Tues. - Consumer Confidence
Wed. - Durable Goods Orders, New Home Sales
Thur. - Final 2Q GDP, Final 2Q GDP Price Index, Final 2Q Personal Consumption, Final 2Q PCE, Initial Jobless Claims
Fri. - Personal Income, Personal Spending, PCE Core, Univ. of Mich. Consumer Confidence
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - JLG Industries(JLG), Walgreen(WAG)
Tues. - Dress Barn(DBRN), HB Fuller(FUL), Jabil Circuit(JBL), Lennar Corp.(LEN), Paychex(PAYX), Red Hat(RHAT), Stride Rite(SRR), Worthington Industries(WOR)
Wed. - Actuant(ATU), McCormick & Co.(MKC)
Thur. - American Greeting(AM), Family Dollar(FDO), Texas Industries(TXI)
Fri. - Global Payments(GPN)
Other events that have market-moving potential this week include:
Mon. - UBS Global Life Sciences Conference
Tue. - Merrill Lynch Global Power & Gas Conference, UBS Global Life Sciences Conference, Thomas Weisel Consumer Conference, Prudential Electrical Equip. & Consumer Electrical Conference
Wed. - UBS Global Life Sciences Conference, Merrill Lynch Global Power & Gas Conference, Prudential Electrical Equip. & Consumer Electrical Conference
Thur. - Prudential Electrical Equip. & Consumer Electrical Conference, UBS Global Life Sciences Conference
Fri. - Prudential Electrical Equip. & Consumer Electrical Conference, St. Louis’ Fed President speaks of data dependence
BOTTOM LINE: I expect US stocks to finish the week modestly higher on lower energy prices, short-covering, bargain hunting, mostly positive economic reports and less pessimism. My trading indicators are still giving bullish signals and the Portfolio is 75% net long heading into the week.
No comments:
Post a Comment