May 18, 2009 (FinancialWire) (By Genevieve Hawkins) Stocks hit a blockade in their two-month rally last week on concerns about the health of banks such as Citigroup (NYSE: C), and choppier trade may be expected from this point onward.

Last week worse than expected economic reports led to a 3.6% drop on the Dow, a 5% dip on the S&P 500, and a 3.4% retrenchment of the Nasdaq. With the bulk of first quarter earnings reports out of the way, the quiet week ahead could become a battle of the bulls and bears over a variety of philosophical considerations.

For the coming week investors will be reviewing financial results from home improvement chains Home Depot and Lowe’s, along with a report from technology giant Hewlett Packard. Economic indicators for the sparse period include data on housing starts and the release of minutes from the Federal Reserve’s last meeting.

With such a quiet week, investors may step back and do some more profit taking. Although there have been tentative signs that the US recession is easing, it is still a stretch to say that the numbers have turned positive, and they shouldn’t be expected to anytime soon. More pain can be anticipated for the next few years even if the worst of the panic has passed on Wall Street. The coming week may be volatile on the stock market, but it probably won’t result in a huge gain or a huge loss.

The Investrend Earnings Calendar features Hastings Entertainment Inc. (NASDAQ: HAST), expected at $0.13 a year ago versus $0.54 a year ago; LiveDeal (NASDAQ: LIVE), expected at $0.12 versus $0.13 a year ago; Lowe’s Corp (NYSE: LOW), expected at $0.25 versus $0.41 a year ago; Perfect World (NASDAQ: PWRD), expected at $0.46 versus $0.38 a year ago.

The Investrend Economics Calendar lists NAHB Housing Market Index for May (1 p.m.), Treasury auctions 3&6-month bills (1 p.m.).

The Investrend Events Calendar showcases EMC, V, CSCO, BRCM at 37th Annual J.P. Morgan Global Technology, Media and Telecom Conference; GENZ, BIIB, AMGN, CERN at Deutsche Bank Healthcare Conference; HOGS, CHBT, CTFO, GFRE at CCG Investor Relations China Rising Investment Conference; HON, ITT, SI, IR at The Electrical Products Group Spring Conference; NCI, MU, MYGN, CEPH at JMP Securities LLC Research Conference; SSD Analyst 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 18 advancers versus 32 decliners. Advancers were led by Dryships Inc. (NASDAQ: DRYS) up 12.32%, Oceanfreight Inc. (NASDAQ: OCNF) up 7.19%, Ultrashort Real Esta (NYSE: SRS) up 6.67%, Ford Motor Co (NYSE: F) up 6.40%. Decliners followed Fortress Inv Gp Llc (NYSE: FIG) down 19.20%, Amer Intl Group Inc (NYSE: AIG) down 6.52%, Ultra Real Estate Pr (NYSE: URE) down 6.05%.

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

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

Quote of the Day: “The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts.” Lord Bertrand Russell

Today is: Museum Day, Visit Your Relatives Day.

Happy Birthday: Omar Khayyám, Stefano della Bella, Oliver Heaviside, Lord Bertrand Russell, Frank Capra, Perry Como, Pope John Paul II, Pernell Roberts, Rick Wakeman, George Strait, Chow Yun-Fat, Michael Tait, Tina Fey.

Today in History: Playwright Thomas Kyd’s accusations of heresy in 1593 led to an arrest warrant for Christopher Marlowe. In Dorchester, Massachusetts, John Winthrop took the oath of office in 1631 and became the first governor of Massachusetts. Fire destroyed a large part of Montreal, Quebec, in 1765. Napoleon Bonaparte was proclaimed emperor of France by the French Senate in 1804. Wyatt Earp started work in Dodge City, Kansas, in 1876 under Marshall Larry Deger. The Earth passed through the tail of Comet Halley in 1910. Evangelist Aimee Semple McPherson disappeared while visiting a Venice, California, beach in 1926. In 1953, Jackie Cochran becomes the first woman to break the sound barrier. Mount St. Helens erupted in Washington in 1980, killing 57 people and causing $3 billion in damage.

[FirstAlert^TM was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert^TM do not necessarily reflect the opinions of Investrend.]

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.