Sunday, October 01, 2006

Weekly Outlook

Click here for The Week Ahead by Reuters

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. - Construction Spending, ISM Manufacturing, ISM Prices Paid, Pending Home Sales

Tues. - Total Vehicle Sales

Wed. - ADP Employment Change, ISM Non-manufacturing, Factory Orders

Thur. - Initial Jobless Claims, Continuing Claims

Fri. - Change in Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings, Consumer Credit

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

Mon. - None of note

Tues. - None of note

Wed. - Arrow Intl.(ARRO), Copart Inc.(CPRT), Stage Stores(SSI), Veritas DGC(VTS)

Thur. - Acuity Brands(AYI), Constellation Brands(STZ), Solectron(SLR)

Fri. - Power Integration(POWI), Schnitzer Steel(SCHN)

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

Mon. - None of note

Tue. - Citigroup Ethanol Conference, Fed’s Hoenig speaks

Wed. - Deutsche Bank High Yield Conference, Fed’s Bernanke speaks, Fed’s Geithner speaks, Fed’s Bies speaks, Fed’s Kohn speaks

Thur. - Retail Monthly Same-store-sales, Fed’s Moskow speaks, Fed’s Plosser speaks, Fed’s Pinalto speaks

Fri. - Fed’s Fisher speaks

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 100% net long heading into the week.

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