Coming Week: Hazier Horizon

Updated from Feb. 3

The Dow Jones Industrial Average hit uncharted territory Thursday. In the coming week, the stock market moves into uncertain terrain.

After several weeks chock full of scheduled events with market-moving potential, the days ahead feature "less-known knowns" as the earnings and economic calendars downshift a bit.

Earnings season is winding down, though the coming week brings results from Cisco Systems (CSCO Quote), Walt Disney (DIS Quote), Anadarko Petroleum (APC Quote), Pepsi (PEP Quote) and Toll Brothers (TOL Quote), among others.

Meanwhile, the week includes macro headliners such as the ISM Services Index Monday and fourth-quarter productivity data Wednesday, as well as separate speeches by Federal Reserve Chairman Ben Bernanke, Chicago Fed President Michael Moskow and San Francisco Fed President Janet Yellen on Tuesday, followed by Philadelphia Fed President Charles Plosser on Wednesday.

The Fed speak will no doubt produce some headlines and interesting statements, but will it change anything regarding the market's perception of Fed policy? "Probably not," says James Bianco, president of Bianco Research.

As of Friday, the fed funds future market is "pretty much discounting the Fed on hold as far as the eye can see" -- or at least until a potential ease in late 2007 or early 2008, according to Bianco. "With that said, given the [recent] data we've gotten, I don't expect [Fed officials] to say anything to change that view."

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