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. - US Markets Closed
Tues. - Empire Manufacturing
Wed. - MBA Mortgage Applications, Producer Price Index, Net Long-term TIC Flows, Industrial Production, Capacity Utilization, NAHB Housing Market Index, Fed’s Beige Book
Thur. - Consumer Price Index, Initial Jobless Claims, Housing Starts, Building Permits, Philly Fed
Fri. - Univ. of Mich. Consumer Confidence
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - US Markets Closed
Tues. - Commerce Bancorp(CBH), Forest Labs(FRX), Freeport-McMoRan(FCX), Intel Corp.(INTC), Linear Tech(LLTC), TD Ameritrade(AMTD), US Bancorp(USB), Wells Fargo(WFC)
Wed. - Apple Inc.(AAPL), CIT Group(CIT), JPMorgan Chase(JPM), Kinder Morgan(KMI), Lam Research(LRCX), Lennar Corp.(LEN), Mellon Financial(MEL), Progressive Corp.(PGR), Southwest Air(LUV), State Street Corp.(STT), Washington Mutual(WM)
Thur. - Amdocs(DOX), AMR Corp.(AMR), Bank of NY(BK), Capital One Financial(COF), Charles Schwab(SCHW), Comerica(CMA), Continental Air(CAL), E*Trade Financial(ET), Fifth Third Bancorp(FITB), Harley-Davidson(HDI), IBM(IBM), International Game Technologies(IGT), Merrill Lynch(MER), SLM Corp.(SLM), UnitedHealth Group(UNH), Xilinx Inc.(XLNX)
Fri. - Citigroup Inc.(C), Fastenal(FAST), General Electric(GE), Johnson Controls(JCI), Keycorp(KEY), Motorola(MOT), Schlumberger Ltd(SLB), SunTrust Banks(STI)
Other events that have market-moving potential this week include:
Mon. - US Markets Closed
Tue. - Goldman Sachs Energy Conference
Wed. - Goldman Sachs Energy Conference, Fed’s Yellen speaking, Fed’s Poole speaking
Thur. - Fed’s Pianalto speaking, Fed’s Bernanke speaking, Goldman Sachs Energy Conference, Deutsche Bank Real Estate Conference
Fri. - (MDT) Analyst Meeting, (PII) Analyst Meeting, (MOT) Analyst Meeting, Fed’s Lacker speaking, Fed’s Hoenig speaking
BOTTOM LINE: I expect US stocks to finish the week modestly higher on mostly positive economic data, buyout speculation, seasonal strength, stable long-term rates, a firmer US dollar, mostly positive earnings reports, constructive Fed comments, bargain-hunting and short-covering. My trading indicators are giving bullish signals and the Portfolio is 100% net long heading into the week.
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