Sunday, November 25, 2007

Weekly Outlook

Click here for the Wall St. Week Ahead by Reuters.

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

Economic reports for the week include:

Mon. – None of note

Tues. – Weekly retail sales reports, S&P Case-Shiller Home Price Index, Consumer Confidence, Richmond Fed Manufacturing Index

Wed. – Weekly EIA energy inventory report, weekly MBA Mortgage Application report, Durable Goods Orders, Existing Home Sales, Fed’s Beige Book

Thur. – Preliminary 3Q GDP, Preliminary 3Q Personal Consumption, Preliminary 3Q GDP Price Index, Preliminary 3Q Core PCE, Initial Jobless Claims, New Home Sales, 3Q House Price Index

Fri. – Personal Income, Personal Spending, Core PCE, Chicago Purchasing Manager report, Construction Spending, NAPM-Milwaukee

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

Mon. – None of note

Tues. – Tech Data(TECD), American Eagle Outfitters(AEO), Jackson Hewitt(JTX), Talbots(TLB), Dress Barn(DBRN), PEP Boys(PBY), Analog Devices(ADI), Marvell Tech(MRVL), Staples(SPLS)

Wed. – Brown Shoe(BWS), CBRL Group(CBRL), Men’s Wearhouse(MW), Jo-Ann Stores(JAS), Aeropostale(ARO), Sigma Designs(SIGM), Dollar Tree Stores(DLTR), Coldwater Creek(CWTR)

Thur. – Smithfield Foods(SFD), Warner Music Group(WMG), Gerber Scientific(GRB), Sears Holdings(SHLD), Lululemon Athletica(LULU), Brown-Forman(BF/B), Omnivision Technologies(OVTI), Cost Plus(CPWM), Michaels Stores(MIK), J Crew Group(JCG), Zumiez(ZUMZ), Dell Inc.(DELL), HJ Heinz(HNZ), Atwood Oceanics(ATW), Del Monte Foods(DLM), Genesco(GCO)

Fri. – Tiffany(TIF), Big Lots(BIG), BearingPoint(BE), CSK Auto(CAO), LDK Solar(LDK)

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

Mon. None of note

Tue. – The Fed’s Plosser speaking, Fed’s Evans speaking, CSFB Tech Conference, Piper Jaffray Healthcare Conference, FBR Investor Conference, Lazard Healthcare Conference, JPMorgan Homebuilding Conference, CIBC Mid&Small Cap Best Ideas Conference, Merrill Lynch Health Services Conference

Wed. – The Fed’s Fisher speaking, (ROH) analyst day, (ERF) analyst meeting, CIBC Mid&Small Cap Best Ideas Conference, Lazard Healthcare Conference, Merrill Lynch Health Services Conference, CSFB Tech Conference

Thur. – The Fed’s Bernanke speaking, Bear Stearns Commodities & Capital Goods Conference, UBS Global Real Estate Conference, CSFB Tech Conference

Fri. – The Fed’s Plosser speaking, Fed’s Poole speaking, Fed’s Kroszner speaking, (NVO) investor meeting, UBS Global Real Estate Conference

BOTTOM LINE: I expect US stocks to finish the week modestly higher on bargain-hunting, a firmer dollar, seasonal strength, less economic pessimism, better-than-expected retail sales and short-covering. My trading indicators are giving mixed signals and the Portfolio is 100% net long heading into the week.

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