Sunday, December 23, 2007

Weekly Outlook

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

Click here for Stocks in Focus for Monday by

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

Economic reports for the week include:

Mon.None of note, US stock exchanges close 1 pm EST

Tues. US markets closed

Wed. – S&P/CaseShiller Home Price Index, Richmond Fed Manufacturing Index

Thur. – Weekly MBA Mortgage Applications Report, weekly EIA energy inventory report, Durable Goods Orders, Initial Jobless Claims, Consumer Confidence

Fri. – Chicago Purchasing Manager, New Home Sales, weekly EIA natural gas inventory report

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

Mon. – None of note

Tues. US markets closed

Wed. – None of note

Thur. – Christopher & Banks(CBK), Verifone(PAY)

Fri. Mesa Air(MESA)

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

Mon. – None of note

Tue. US markets closed

Wed. – None of note

Thur. – None of note

Fri. – None of note

BOTTOM LINE: I expect US stocks to finish the week modestly higher on a firmer US dollar, seasonal strength, less economic pessimism, diminishing credit market anxiety, bargain hunting and short-covering. My trading indicators are still giving mostly bullish signals and the Portfolio is 100% net long heading into the week.

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