Sunday, March 29, 2009

Weekly Outlook

Click here for Wall St. Week Ahead by Reuters.

Click here for stocks in focus for Monday by MarketWatch.


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


Economic reports for the week include:


Mon. – Dallas Fed Manufacturing Activity


Tues. – S&P/CaseShiller Home Price Index, Chicago Purchasing Manager, Consumer Confidence, NAPM-Milwaukee, weekly retail sales reports


Wed. – Weekly MBA mortgage applications report, weekly EIA energy inventory data, Challenger Job Cuts, ADP Employment Change, ISM Manufacturing, Pending Home Sales, ISM Prices Paid, Construction Spending, Total Vehicle Sales


Thur. – Initial Jobless Claims, Factory Orders


Fri. – Change in Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings, ISM Non-Manufacturing


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


Mon. – Cal-Maine Foods(CALM)


Tues. – Lennar Corp.(LEN), Steelcase(SCS), Apollo Group(APOL)


Wed. – Worthington Industries(WOR)


Thur. – Carmax Inc.(KMX), Monsanto(MON), Micro Technology(MU), Global Payments(GPN), Allscripts(MDRX), Acuity Brands(AYI), Ruby Tuesday(RT)


Fri. – Schnitzer Steel(SCHN)


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


Mon. – Platts Wind Power Development Conference

Tue. – The Fed’s Stern speaking, Fed’s Plosser, (CPN) analyst meeting, (KMT) analyst meeting


Wed. – The Fed’s Pianalto speaking, Citi Biotech Day, (NOVL) investor lunch


Thur. – The (NYX) shareholders meeting, (ADSK) investor day, (KBH) shareholders meeting


Fri. – Bernanke speaking at the Richmond Fed’s Credit Markets Symposium, (GAS) analyst meeting


BOTTOM LINE: I expect US stocks to finish the week mixed as less credit market angst, declining economic fear, lower energy prices and diminishing financial sector pessimism offset more shorting and profit-taking. My trading indicators are giving bullish signals and the Portfolio is 75% net long heading into the week.

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