On Friday, all three major indexes gained a fraction of one percent for the day. For the week, the Dow rose 1.7 percent, the S&P 500 rose 2.1 percent, and the Nasdaq rose 2 percent. First-quarter earnings reports that continued to exceed analysts’ estimates provided the catalyst to keep the Dow and the S&P 500 moving to their highest weekly close in 19 months.

Next week will be the busiest of the first-quarter corporate earnings season, and earnings results are expected once again to be the driving force in the market. Of the companies reporting to this point, 83 percent have surpassed forecasts. During the coming week, results from companies in various sectors will help to clarify the picture of the nation’s recovering economy.

As companies release their earnings results, investors will be interested to see whether consumers are again willing to purchase newly introduced products; to what extent the rising cost of oil has supported the energy sector; the impact of national healthcare legislation on the private healthcare sector; and whether corporate purchasing is again supporting manufacturers.

Economic data to be released during the week is not likely to be as optimistic as earnings results. On Tuesday, the Case-Shiller house price index will indicate that housing prices are still declining, though at a slower rate. First quarter GDP figures, to be released on Friday, will indicate annual growth of 3.4 percent, compared to 5.6 percent during the previous quarter.

The Federal Reserve will hold its policy meeting on Tuesday and Wednesday and is expected to again release a statement that supports maintaining low interest rates. The Senate will begin the process of introducing legislation to restructure regulation of the financial industry.

Stock to Watch

We're watching 13 stocks for continued strength this week. The 13 stocks:

Accenture Plc (ACN)
Ashland Inc. (ASH)
EQT Corporation (EQT)
Lender Processing Services, Inc. (LPS)
McDermott International (MDR)
Mindray Medical International Limited (MR)
PG&E Corporation (PCG)
Public Service Enterprise Group Inc. (PEG)
Principal Financial Group, Inc. (PFG)
PPL Corporation (PPL)
St. Mary Land & Exploration Co. (SM)
WMS Industries Inc. (WMS)
The Valspar Corporation (VAL)

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