The Week Ahead: Despite consumer confidence at its worst level since the early 1980's, S&P 500 non-financial companies first quarter earnings are still benefiting from a stronger global economy and weaker dollar. The FOMC meeting which begins Tuesday will end Wednesday with a decision on interest rates as a 1/4 point cut is now widely anticipated. Also watch first quarter advanced GDP numbers released on Wednesday, the personal income and spending data on Thursday, and an important April employment report on Friday.

Stocks to Watch: A big 84% surprise revenue increase in Southwestern Energy (SWN) and a doubling in earnings lifted this stock strongly to new highs. Goodyear Tire & Rubber (GT) surged through its 200 day moving average after announcing a big turnaround in first quarter earnings from a loss to a gain on 10% sales growth. The container shipment company, Horizon Lines (HRZ) cut its 2008 earnings target, but the stock could be nearing an important low. MEMC Electronic Materials (WFR) gave a cautious 2nd quarter outlook for its semi-conductor applications.

Special Note: Although another interest rate cut is expected by Wednesday, the bond market is forecasting that the Federal Reserve will stop cutting rates after the April 30 meeting possibly for the rest of the year. The S&P 500 and Dow Industrials could be looking at there best month since April of 2003 halting 5 straight monthly declines. Signs that oil may be peaking are in data suggesting there are no shortages and demand is slowing. Speculation seems to be the driving force for oil price increases.

Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.

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