All three major stock indexes suffered losses on Friday, and all three also showed losses for the week. Although GDP news for the third quarter was positive, showing growth for the first time since the second quarter of 2009, investors continue to be cautious.

Stimulus money provided incentives for consumers to purchase new cars and for first-time home buyers to enter the housing market. Federal money for those two plans will no longer be available, and investors are aware that fourth-quarter GDP figures will be more realistic.

On Monday, pending home sales figures for September are expected to remain at the level of August sales. The largest homebuilder in the U.S., Pulte Homes Inc (PHM), will report its third-quarter earnings on Wednesday, and Wall Street hopes to find evidence of increased stability in the housing recovery.

Ford Motor Company (F) will release its third-quarter earnings statement on Monday, the day before U.S. auto sales data will be released. Analysts expect sales to increase to an annual rate of 9.8 million vehicles, compared to September’s figure of 9.2 million.

In the coming week, the Federal Open Market Committee will meet for two days and will issue a statement on Wednesday. Wall Street will be anxious over the possibility of a change in wording that could indicate a raise in interest rates in the second half of 2010.

On Friday, the nonfarm payrolls data is forecast to show a loss of 175,000 jobs in October, a figure much lower than September’s job losses of 263,000. The unemployment rate, however, is expected to rise to 9.9 percent for October, up from September’s 9.8 percent.

9 Stocks to Watch

We're watching nine stocks this week for potential breakouts. Our nine stocks on the watch list are the following:

American Express Company (AXP)
Amphenol Corporation (APH)
Chevron Corporation (CVX)
Convergys Corporation Public, NYSE:CVG)
Duke Energy Corporation (DUK)
Health Care REIT, Inc. (HCN)
Mylan Inc. (MYL)
Ventas, Inc. (VTR)
Waters Corporation (WAT)

Dave Mecklenburg is the Editor-in-Chief of TigerSharkTrading.com.