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. - Pending Home Sales
Tues. - Challenger Job Cuts, Final 3Q Non-farm Productivity, Final 3Q Unit Labor Costs, Factory Orders, ISM Non-Manufacturing
Wed. - ADP Employment Change
Thur. - Initial Jobless Claims, Consumer Credit
Fri. - Change in Non-farm Payrolls, Unemployment Rate, Average Hourly Earnings, Univ. of Mich. Consumer Confidence
Some of the more noteworthy companies that release quarterly earnings this week are:
Mon. - Pall Corp.(PLL)
Tues. - Activision Inc.(ATVI), Kroger(KO), Novell(NOVL), Photronics(PLAB), Sanderson Farms(SAFM), Toll Brothers(TOL), Witness Systems(WITS)
Wed. - John Wiley(JW/A), Korn/Ferry(KFY), OSI Restaurant Partners(OSI), Quanex Corp.(NX), Veritas DGC(VTS)
Thur. - Atwood Oceanics(ATW), Central Garden(CENT), Credence Systems(CMOS), Esterline Technologies(ESL), Jacuzzi Brands(JJZ), Jos. A. Bank Clothiers(JOSB), National Semi(NSM), Pathmark Stores(PTMK), Toro Co.(TTC), UTi Worldwide(UTIW), VeriFone Holdings(PAY)
Fri. - None of note
Other events that have market-moving potential this week include:
Mon. - Bank of America Credit Conference, UBS Global Media Conference, CSFB Media & Telecom Week, Bear Stearns Real Estate Conference
Tue. - Wachovia Real Estate Conference, Bank of America Credit Conference, Bear Stearns Real Estate Conference, CSFB Aerospace & Defense Conference, Citigroup Chemical Conference, Lehman Global Tech Conference, CSFB Media & Telecom Week, UBS Global Media Conference
Wed. - BMO Nesbitt Burns Healthcare Conference, Lehman Brothers Global Tech Conference, Citigroup Chemical Conference, CSFB Aerospace & Defense Conference, UBS Global Media Conference, CSB Media & Telecom Week, Piper Jaffray Online Ad & Search Symposium
Thur. - Lehman Global Tech Conference, UBS Global Media Conference, CSFB Aerospace & Defense Conference, CSFB Media & Telecom Week, Citigroup Global Paper & Forest Products Conference, BMO Nesbitt Burns Healthcare Conference, Cowen Internet Conference
Fri. - None of note
BOTTOM LINE: I expect US stocks to finish the week modestly higher on better economic data, a stronger US dollar, lower energy prices, seasonal strength, strong corporate profits, bargain-hunting, investment manager performance anxiety and short-covering. My trading indicators are still giving bullish signals and the Portfolio is 100% net long heading into the week.
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