Sunday, December 14, 2008

Weekly Outlook

Click here for a weekly market preview by MarketWatch.

Click here for stocks in focus for Monday by MarketWatch.

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. – Empire Manufacturing, Net Long-term TIC Flows, Industrial Production, Capacity Utilization, NAHB Housing Market Index

Tues. – Weekly retail sales reports, Consumer Price Index, Housing Starts, Building Permits, FOMC Rate Decision

Wed. – Weekly MBA mortgage applications report, weekly EIA energy inventory report, Current Account Balance

Thur. – Initial Jobless Claims, Philly Fed, Leading Indicators

Fri. – None of note

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

Mon. – Titan Machinery(TITN)

Tues. – Best Buy(BBY), FactSet(FDS), Goldman Sachs(GS), Adobe Systems(ADBE), Verifone(PAY)

Wed. – Commercial Metals(CMC), ConAgra(CAG), General Mills(GIS), Joy Global(JOYG), Morgan Stanley(MS), Herman Miller(MLHR), Micron Tech(MU), Nike(NKE), Paychex(PAYX)

Thur. – Carival(CCL), Discover Financial Services(DFS), FedEx(FDX), Lennar(LEN), Accenture(ACN), Darden Restaurants(DRI), Oracle(ORCL), Palm(PALM), Quicksilver(ZQK), Research In Motion(RIMM), Teekay Shipping(TK)

Fri. – CarMax(KMX), Cintas(CTAS), Jabil Circuit(JBL)

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

Mon. – (SUN) Analyst meeting, (ARNA) R&D Day, (BEZ) Analyst meeting

Tue. – (GE) Outlook Meeting, (AVT) Dnalyst Day, (BEC) Business Review, (HLF) Investor Day, (V) Special Meeting, (INTU) Shareholders Meeting, (HANS) Mid-Quarter Business Update, (ETP) Shareholders Meeting, (GMR) Shareholders Meeting

Wed. – (LII) Community Meeting, (AZO) Shareholders Meeting

Thur. – The Fed’s Fisher speaking, the Treasury’s Paulson speaking, (BMNM) Analyst Meeting, (AG) Analyst Meeting

Fri. – (CA) Analyst Day

BOTTOM LINE: I expect US stocks to finish the week higher on seasonal strength, diminishing financial sector pessimism, lower mortgage rates, lower commodity prices, bargain-hunting, short-covering, diminishing credit market angst and less forced selling. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.

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