Click here for Stocks in Focus for Monday by MarketWatch
There are a number of economic reports of note and some significant corporate earnings reports scheduled for release this week.
Economic reports for the week include:
Mon. - New Home Sales
Tues. - Consumer Confidence, Richmond Fed Index, weekly retail sales
Wed. - MBA Mortgage Apps, Durable Goods Orders, EIA energy inventory data
Thur. - Final 4Q GDP, Final 4Q Personal Consumption, Final 4Q GDP Price Index, Final Core PCE, Initial Jobless Claims
Fri. - Personal Income, PCE Core, Chicago Purchasing Manager, Construction Spending, Univ. of Mich. Consumer Confidence
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Checkpoint Systems(CKP), Dollar General(DG), Shuffle Master(SHFL), Tiffany & Co.(TIF), Transaction Systems Archittects(TSAI), Walgreen(WAG)
Tues. - Accenture(ACN), GameStop(GME), Lennar Corp.(LEN), McCormick & Co.(MKC)
Wed. - Paychex(PAY)
Thur. - AG Edwards(AGE), Carmax(KMX), CKE Restaurants(CKE), Claire’s Stores(CLE), Family Dollar(FDO), Finish Line(FINL), RedHat(RHAT), Solectron(SLR), Steelcase(SCS), Stride Rite Corp.(SRR), Worthington Industries(WOR)
Fri. - Activision(ATVI), Georgia Gulf(GGC), Sonic Solutions(SNIC)
Other events that have market-moving potential this week include:
Mon. - Lehman Brothers High Yield Bond and Syndicated Loan Conference, (BSX) analyst meeting
Tue. - Lehman High Yield Conference, (SNPS) investor day
Wed. - Lehman High Yield Conference, Banc of America Media/Telecom/Entertainment Conference, (ADBE) analyst meeting
Thur. - (BRCD) analyst meeting, Banc of America Media/Telecom/Entertainment Conference, Fed’s Lacker speaking
Fri. - BMO Global Fertilizer Conference, Fed’s Plosser speaking, Fed’s Bernanke speaking
BOTTOM LINE: I expect US stocks to finish the week modestly higher on buyout speculation, lower energy prices, short-covering and bargain-hunting. My trading indicators are now giving mostly bullish signals and the Portfolio is 100% net long heading into the week.
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