What's In Store for the Week?

Morning News of Note:

• GE: Jack's Magic JACK WELCH, GENERAL ELECTRIC'S DEMANDING former chief executive, delighted in setting the bar high. When he stepped down a few days before Sept. 11, 2001, he left his successor, Jeffrey Immelt, the challenge of matching a remarkable string of years of strong profit growth. What was most remarkable about those years, however, wasn't apparent to anyone outside the company until recently. The bar might have been set artificially high. (Full Story) BARRONS
• Holiday Retail: U.S. Retailers May Have `Good, Not Great' Holiday Sales Season U.S. retailers probably posted modest sales gains this holiday season as discounters including Wal-Mart Stores Inc. benefited from price cuts. Department stores struggled. Retailers are set to report comparable sales gains of 3 percent to 3.5 percent, based on the International Council of Shopping Centers forecast. That's in line with its previous estimate. Stores are continuing discounts this week in a final push to win sales during a period that accounts for almost a quarter of annual revenue. (Full Story) Bloomberg
• GLD: Golden Opportunity? CAN ANYTHING BE as mesmerizing as gold? the yellow metal has been squarely in the spotlight for the last couple of months, thanks to a dizzying run-up and an equally swift reversal. Swings like that -- the price zoomed from $459 an ounce in early November to $528 on Dec. 12, then plunged to $492 in just a week -- aren't uncommon in the wild world of gold. (Full Story) BARRONS
• GOOG: Reuters reports the co will be able to sell its pending 5% stake in Time Warner (TWX) AOL Internet unit as early as July 2008 according to Google's recent filing with the SEC. Under the agreement for the purchase of the $1 bln stake, Google has the right as of July 1, 2008, to require a public offering of its stake, according to Google's filing on Friday with the SEC.
• WMT: Wal-Mart-WMT maintains Dec Same-Store Sales forecast of up 2%-4% (monday)

Market Comments: The market opened slightly higher this morning. Early reports on holiday sales show that retail sales were solid, but not spectacular.

Energy prices are lower, which is weighing on oil and gas stocks. Housing stocks are getting a bounce, after last week's selling, and financials are doing well as chatter escalates that the Fed may be close to done raising rates.

It remains to be seen whether the normally positive seasonality will show up in the market this year. I still think that this week will be mildly positive.

long GE, WMT