Sunday, June 07, 2009

Weekly Outlook

Click here for Wall St. Week Ahead by Reuters.


Click here for stocks in focus for Monday by MarketWatch.


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


Economic reports for the week include:


Mon. – None of note


Tues. – Wholesale Inventories, weekly retail sales reports, IBD/TIPP Economic Optimism Index, US Sells $35B 3-Year Notes


Wed. – Bloomberg Global Confidence, weekly MBA mortgage applications report, weekly EIA energy inventory report, Trade Balance, Monthly Budget Statement, Fed’s Beige Book, US Sells $19B 10-Year Notes


Thur. – Advance Retail Sales, Initial Jobless Claims, Business Inventories, US Sells $11B 30-Year Bonds


Fri. – Import Price Index, Univ. of Mich. Consumer Confidence


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


Mon. – Quiksilver Inc.(ZQK)


Tues. – Korn/Ferry(KFY), Talbots(TLB), Navistar Intl(NAV), PEP Boys(PBY)


Wed. – Brown-Forman(BF/B), Men’s Wearhouse(MW)


Thur. – National Semi(NSM), Del Monte(DLM)


Fri. – Genentech(DNA)


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


Mon. – The Fed’s Tarullo speaking, UBS Tech & Service Conference, Merrill Lynch Samurai Conference

Tue. – UBS Tech & Service Conference, CSFB Convergence Conference, Needham Internet & Digital Media Conference, (IP) Investor Day, William Blair Growth Stock Conference, Piper Jaffray Consumer Conference, Goldman Sachs Healthcare Conference, Merrill Lynch Samurai Conference, RBC Capital Tech/Communications/Media Conference, Morgan Stanley Shipping/Commodities Conference


Wed. – The Fed’s Lacker speaking, Fed’s Duke speaking, William Blair Growth Stock Conference, RBC Capital Tech/Communications/Media Conference, UBS Tech/Service Conference, Needham Biotech & Medtech Conference, BofA/Merrill Transportation Conference, Deutsche Bank Alt Energy Conference, (HD) Investor Conference, Piper Jaffray Consumer Conference, Goldman Sachs Healthcare Conference, CSFB Convergence Conference, (AGU) Investor Day


Thur. – The Fed’s Lockhart speaking, UBS Electronic Payments Summit, BofA/Merrill Transportation Conference, William Blair Growth Stock Conference, Needham Biotech & Medtech Conference, Goldman Sachs Healthcare Conference, UBS Basic Materials Conference, (SYMC) Analyst Meeting, CSFB Convergence Conference


Fri. – The Treasury’s Geithner speaking at G-8 Meeting


BOTTOM LINE: I expect US stocks to finish the week mixed as rising long-term rates, profit-taking, more hawkish Fed commentary and more shorting offset technical buying, less economic fear, falling credit market angst, investment manager performance anxiety and lower energy prices. My trading indicators are giving bullish signals and the Portfolio is 100% net long heading into the week.

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