Weekly Newsletter July 29th - August 4th

Current Events: The gains experienced across the major U.S. indexes on Thursday and Friday were enough to finish the week on a high note. Moreover, with these recent gains further confirmation that the prevailing two-month choppy upward trend continues, rebutting the large slide witnessed throughout May. However, a slow-to-recover U.S. economy likely means the nation’s unemployment rate will remain idle around a lackluster 8%, reducing the likelihood of an economic recovery before the end of the year, especially with the ongoing debt crisis occurring overseas.

What to Look for This Week

Earnings reports will take a backseat this week as investors will focus on the heavy dose of key economic reports, including data on the unemployment rate, the Fed rate, consumer spending, and consumer confidence.

News Affecting the Markets

The University of Michigan Consumer Sentiment report released on Friday came in at the lowest point of the year. The report stated that while consumers are seeing relief at the pump, there’s now concern about food prices. The index, which is not seasonally adjusted, has not been above 80 since the recession. It was as high as 96.9 in July 2007.

Smart Investing

Choosing the Right Retirement Plan: Having a retirement plan in place is essential to your future financial well-being. Choosing the right retirement plan and the right investment choices will insure your retirement will be all that you hope it will be. Whether you have a 401(k), a traditional IRA, a Roth IRA or a combination of plans, investing now for retirement is smart move. A 401(k) plan is a great way to prepare for retirement through your current employer. However, for self-employed individuals and those seeking additional plans traditional IRA and Roth IRA plans are needed. Depending on when you wish to pay taxes on your investments will determine which you will setup.

Earnings for the Week

Monday: Alere Inc (ALR), Anadarko Petroleum Corp (APC) {After the close}, Arrow Electronics Inc (ARW), CapitalSource Inc (CSE) {After the close}, CubeSmart (CUBE), Eastman Chemical Co (EMN) {After the close}, Extra Space Storage Inc (EXR) {After the close}, Forest Oil Corp (FST) {After the close}, Franklin Resources Inc (BEN), HCA Holdings Inc (HCA), Herbalife Ltd (HLF) {After the close}, Hertz Global Holdings Inc (HTZ) {After the close}, Hologic Inc (HOLX) {After the close}, Ion Geophysical Corp (IO), Jacobs Engineering Group Inc (JEC) {After the close}, Leucadia National Corp (LUK), Loews Corp (L), Masco Corp (MAS) {After the close}, Northeast Utilities (NU) {After the close}, Plum Creek Timber Company Inc (PCL) {After the close}, Rosetta Genomics Ltd (ROSG), Seagate Technology PLC (STX) {After the close}, StemCells Inc (STEM), Superior Energy Services Inc (SPN) {After the close}, Tim Participacoes SA (TSU) {After the close}, UDR Inc (UDR), Vertex Pharmaceuticals Inc (VRTX) {After the close}, W&T Offshore Inc (WTI) {After the close}

Tuesday: A123 Systems Inc (AONE), Aetna Inc (AET), Allstate Corp (ALL) {After the close}, Archer Daniels Midland co (ADM), Axis Capital Holdings Ltd (AXS) {After the close}, BMC Software Inc (BMC) {After the close}, BrightPoint Inc (CELL), CBRE Group Inc (CBG) {After the close}, Coach Inc (COH), Con-way Inc (CNW) {After the close}, Cummins Inc (CMI), DDR Corp (DDR) {After the close}, DDR Corp (XRAY), Ecolab Inc (ECL), Edison International (EIX) {After the close}, Electronic Arts Inc (EA) {After the close}, Entergy Corp (ETR), EXCO Resources Inc (XCO) {After the close}, FMC Corp (FMC), Frontier Communications Corp (FTR) {After the close}, Genworth Financial Inc (GNW) {After the close}, Harris Corp (HRS), HCP Inc (HCP), Kimco Realty Corp (KIM) {After the close}, Life Technologies Corp (LIFE) {After the close}, Louisiana Pacific Corp (LPX), ONEOK Inc (OKE) {After the close}, Pfizer Inc (PFE), Pioneer Natural Resources Co (PXD) {After the close}, Pioneer Southwest Energy Partners LP (PSE) {After the close}, Polypore International Inc (PPO) {After the close}, Public Service Enterprise Group Inc (PEG), Quantum Corp (QTM) {After the close}, Revlon Inc (REV), Silicon Image Inc (SIMG) {After the close}, The Goodyear Tire & Rubber Co (GT),TRW Automotive Holdings Corp (TRW), Tyco International Ltd (TYC), United States Steel Corp (X), USEC Inc (USU) {After the close}, Valero Energy Corp (VLO), Vishay Intertechnology Inc (VSH), Wabash National Corp (WNC) {After the close}

Wednesday: Allergan Inc (AGN), Amdocs Ltd (DOX) {After the close}, American Tower Corp (AMT), Amerigroup Corp (AGP), Automatic Data Processing Inc (ADP), Avis Budget Group Inc (CAR) {After the close}, Avon Products Inc (AVP), BioMed Realty Trust Inc (BMR) {After the close}, Burger King Worldwide Inc (BKW), Cal Dive International Inc (DVR) {After the close}, Cavium Inc (CAVM) {After the close}, Consolidated Edison Inc (ED), DaVita Inc (DVA) {After the close}, Devon Energy Corp (DVN), Dominion Resources Inc (D), Enterprise Products Partners LP (EPD), Exelon Corp (EXC), General Growth Properties Inc (GGP) {After the close}, Georgia Gulf Corp (GGC) {After the close}, Harley-Davidson Inc (HOG), Hospira Inc (HSP), Huntsman Corp (HUN), IntercontinentalExchange Inc (ICE), Invesco Mortgage Capital Inc (IVR) {After the close}, LeapFrog Enterprises Inc (LF) {After the close}, Lincoln National Corp (LNC) {After the close}, Macerich Co (MAC), Marathon Oil Corp (MRO), MasterCard Inc (MA), Metlife Inc (MET) {After the close}, Murphy Oil Corp (MUR) {After the close}, Onyx Pharmaceuticals Inc (ONXX) {After the close}, Owens Corning (OC), Penn Virginia Corp (PVA) {After the close}, Phillips 66 (PSX), Piedmont Office Realty Trust Inc (PDM) {After the close}, Prudential Financial Inc (PRU) {After the close}, R.R. Donnelley & Sons Co (RRD), Radian Group Inc (RDN), Rockwood Holdings Inc (ROC), ServiceNow Inc (NOW) {After the close}, SM Energy Co (SM) {After the close}, Stone Energy Corp (SGY) {After the close}, Tesoro Corp (TSO) {After the close}, The Hartford Financial Services Group Inc (HIG) {After the close}, Time Warner Inc (TWX), Transocean Ltd (RIG) {After the close}, Two Harbors Investment Corp (TWO) {After the close}, Unum Group (UNM) {After the close}, Vonage Holdings Corp (VG), Walter Energy Inc (WLT) {After the close}, Weight Watchers International Inc (WTW) {After the close}, Williams Companies Inc (WMB) {After the close}, Willis Group Holdings PLC (WSH) {After the close}, Wisconsin Energy Corp (WEC)

Thursday: Activision Blizzard Inc (ATVI) {After the close}, Ameren Corp (AEE), American International Group Inc (AIG) {After the close}, Apache Corp (APA), Apartment Investment and Management Co (AIV) {After the close}, ARIAD Pharmaceuticals Inc (ARIA), AuthenTec Inc (AUTH) {After the close}, Beam Inc (BEAM), Becton Dickinson and Co (BDX), Bill Barrett Corp (BBG), Body Central Corp (BPDY) {After the close}, Boise Inc (BZ), Cardinal Health Inc (CAH), CBS Corp (CBS) {After the close}, CenterPoint Energy Inc (CNP), Cigna Corp (CI), Cimarex Energy Co (XEC), DCT Industrial Trust Inc (DCT) {After the close}, Denbury Resources Inc (DNR), DIRECTV (DTV), Dolby Laboratories Inc (DLB), Duke Energy Corp (DUK), Exterran Holdings Inc (EXH), Fluor Corp (FLR) {After the close}, General Motors Co (GM), Halcon Resources Corp (HK), Kellogg Co (K), Kodiak Oil & Gas Corp (KOG) {After the close}, Kraft Foods Inc (KFT) {After the close}, Lear Corp (LEA), Lender Processing Services Inc (LPS) {After the close}, MasTec Inc (MTZ) {After the close}, MDU Resources Group Inc (MDU), MFA Financial Inc (MFA), MGIC Investment Corp (MTG), Molycorp Inc (MCP) {After the close}, Monster Worldwide Inc (MWW), National Retail Properties Inc (NNN), NorthStar Realty Finance Corp (NRF), Och-Ziff Capital Management Group LLC (OZM), Ocwen Financial Corp (OCN), OfficeMax Inc (OMX), OpenTable Inc (OPEN) {After the close}, Orient-Express Hotels Ltd (OEH) {After the close}, Parker Hannifin Corp (PH), PerkinElmer Inc (PKI) {After the close}, PetroQuest Energy Inc (PQ), Pinnacle West Capital Corp (PNW), Pitney Bowes Inc (PBI) {After the close}, Plains Exploration & Production Co (PXP), Progressive Corp (PGR), Quanta Services Inc (PWR), ResMed Inc (RMD) {After the close}, Rowan Companies PLC (RDC), Sally Beauty Holdings Inc (SBH), SandRidge Energy Inc (SD) {After the close}, Scripps Networks Interactive Inc (SNI), Sealed Air Corp (SEE), Sempra Energy (SRE), Southwestern Energy Co (SWN) {After the close}, Spectra Energy Corp (SE), Sunoco Inc (SUN) {After the close}, Sunstone Hotel Investors Inc (SHO) {After the close}, Swift Energy Co (SFY), TECO Energy Inc (TE), Teradata Corp (TDC), The Clorox Co (CLX), Time Warner Cable Inc (TWC), Titanium Metals Corp (TIE), Ultra Petroleum Corp (UPL), ValueClick Inc (VCLK) {After the close}, Western Refining Inc (WNR), WPX Energy Inc (WPX), Xcel Energy Inc (XEL), Xylem Inc (XYL)

Friday: Beazer Homes USA Inc (BZH), Elster Group SE (ELT), EOG Resources Inc (EOG) {After the close}, Exelis Inc (XLS), Health Net Inc (HNT), ITT Corp (ITT), Merge Healthcare Inc (MRGE), NYSE Euronext (NYX), Procter & Gamble Co (PG), Sotheby's (BID), Viacom Inc (VIAB), Wellcare Health Plans Inc (WCG)
* Earnings dates and times are subject to change

Economic Data this Week

Monday
No announcements scheduled.

Tuesday
Personal Income @ 8:30 AM for June (Est. = 0.4% to 0.9%, Prior = 0.2%)
Personal Spending @ 8:30 AM for June (Est. = 0.1%, Prior = 0.0%)
Case-Shiller 20-city Index @ 9:00 AM for May (Est. = -1.8%, Prior = -1.9%)
Chicago PMI @ 9:45 AM for July (Est. = 51.0 to 52.5, Prior = 52.9)
Consumer Confidence @ 10:00 AM for July (Est. = 61.0, Prior = 62.0)

Wednesday
MBA Mortgage Index @ 7:00 AM for 07/29 (Est. = n/a, Prior = 0.9%)
ADP Employment Change @ 8:15 AM July (Est. = 125K, Prior = 179K)
ISM Index @ 10:00 AM for July (Est. = 49.0 to 49.9, Prior = 49.7)
Construction Spending @ 10:00 AM for June (Est. = 0.5% to 0.7%, Prior = 0.9%)
Crude Oil Inventories @ 10:30 AM for 07/28 (Est. = n/a, Prior = 2.717M)
Auto Sales @ 2:00 PM for July (Est. = n/a, Prior = 4.9M)
Truck Sales @ 2:00 PM for July (Est. = n/a, Prior = 6.1M)
FOMC Rate Decision @ 2:15 PM for July (Est. = 0.25%, Prior = 0.25%)

Thursday
Initial Claims @ 8:30 AM for 07/28 (Est. = 365K to 385K, Prior = 353K)
Continuing Claims @ 8:30 AM for 07/21 (Est. = 3298K to 3300K, Prior = 3287K)
Factory Orders @ 10:00 AM for June (Est. = 0.6% to 1.0%, Prior = 0.7%)

Friday
Nonfarm Payrolls @ 8:30 AM for July (Est. = 85K to 100K, Prior = 80K)
Nonfarm Private Payrolls @ 8:30 AM for July (Est. = 100K to 105K, Prior = 84K)
Unemployment Rate @ 8:30 AM for July (Est. = 8.2% to 8.2%, Prior = 8.2%)
Hourly Earnings @ 8:30 AM for July (Est. = 0.1% to 0.2%, Prior = 0.3%)
ISM Services @ 10:00 AM for July (Est. = 52.0 to 52.2, Prior = 52.1)