May 11, 2009 (FinancialWire) (By Genevieve Hawkins) — Wall Street extended itself yet again on the back of some better than expected data, and with bellwether Wal Mart (NYSE: WMT) expected to report, investors are expecting a continuation of the fun in the coming week.

Decent news regarding bank stress tests and the unemployment rate propelled the Dow last week 4.4%, while the S&P 500 gained 5.9% and the Nasdaq increased 1.2%. For the coming several days investors may shift their focus to whether the better than expected results recently are becoming profits, but here they may face a rude wake up call.

For this week market watchers will be listening to a speech by Fed Chairman Ben Bernanke regarding the financial system, along with reports on March International Trade and the Consumer Price Index. Retailers, including Wal Mart, Kohl’s and Macy’s, will also be reporting financial results, and these will be eyed closely for signs of a rebound in consumer spending. Expect these reports to show an uptick, as the better weather in April has combined with the more optimistic mood to lead to a better buying climate.

Despite all of the positive indications this week, the rally may end here. Too much of the recent surge has been based on a slowdown in the rate of decline rather than an actual increase, which means that the economy is far from out of the woods. Once the euphoria about averting a total collapse fades, there is little else to support a sustained rally at this juncture.

The Investrend Earnings Calendar features 51JOB Inc. (NASDAQ: JOBS), expected at $0.03 a year ago versus $0.11 a year ago; Dish Network (NASDAQ: DISH), expected at $0.56 versus $0.57 a year ago; Energy Transfer Partners (NYSE: ETP), expected at $1.38 versus $1.34 a year ago; Fluor Corp. (NYSE: FLR), expected at $0.93 versus $0.75 a year ago.

The Investrend Economics Calendar lists Treasury auctions 3&6-month bills (1 p.m.), Fed Chairman Bernanke Speaks (6:30 p.m.).

The Investrend Events Calendar showcases ABX Shareholders Meeting; CLH Shareholders Meeting; GOLD, NG, GBG, URZ at IIC Hard Assets Conference; TIE Shareholder Meeting.

The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session’s trading showed 34 advancers versus 14 decliners and two unchanged. Advancers were led by Fifth Third Bancorp (NASDAQ: FITB) up 58.81%, Huntington Bancshares Incorpora (NASDAQ: HBAN) up 33.68%, Regions Financial Cp (NYSE: RF) up 24.86%, Financial Bull 3x (NYSE: FAS) up 20.30%, Capital One Financia (NYSE: COF) up 18.49%, E*Trade Financial Corporation (NASDAQ: ETFC) up 16.57%, Genworth Financial (NYSE: GNW) up 15.03%, Ultra Real Estate Pr (NYSE: URE) up 14.60%, Wells Fargo & Co New (NYSE: WFC) up 13.81%, Ultra Financials Pro (NYSE: UYG) up 13.40%, Dow Chemical (NYSE: DOW) up 11.11%, Las Vegas Sands Corp (NYSE: LVS) up 10.64%, Jp Morgan Chase Co (NYSE: JPM) up 10.50%, Cell Therapeutics, Inc. (NASDAQ: CTIC) up 7.48%, Activision Blizzard, Inc (NASDAQ: ATVI) up 7.36%. Decliners followed Delta Petroleum Corporation (NASDAQ: DPTR) down 33.48%, Financial Bear 3x (NYSE: FAZ) down 20.84%, Dryships Inc. (NASDAQ: DRYS) down 20.32%, Ultrashort Real Esta (NYSE: SRS) down 14.59%, Ultrashort Financial (NYSE: SKF) down 14.04%, Nvidia Corporation (NASDAQ: NVDA) down 13.79%.

Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).

Investrend Website of the Day: http://www.bachmancummings.com/

Quote of the Day: “Never hate a song that’s sold a half million copies.” Irving Berlin

Today is: Fibromyalgia Awareness Day.

Happy Birthday: Irving Berlin, Salvador Dalí, Phil Silvers, Foster Brooks, Richard Feynman, Mort Sahl, Martha Quinn.

Today in History: Minnesota was admitted in 1858 as the 32nd U.S. state. An act of the U.S. Congress established Glacier National Park in Montana in 1910. Siam changed its name to Thailand in 1949. The first heart-lung transplant took place in 1987. IBM’s Deep Blue chess-playing supercomputer defeated Garry Kasparov in 1997 in the last game of the rematch, becoming the first computer to beat a world-champion chess player.

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