Good Sunday morning, and welcome to Weekend Reading. Here is a look at the week that just finished, a look at the week ahead and a sampling of some of the best news articles.

Looking back at the week that just ended, there were solid gains all around. The Dow Jones Industrial Average gained 2.1%, the Standard & Poor's 500 rose 2.3% and the Nasdaq Composite ended the week up 2.9%. It didn't feel like that all the way -- and for those of us in southern California who spent part of the week nervously watching the horizon for fires a few of the market's days are a blank -- but the result is all that matters.

The market's gains this week came in spite of bad news, rather than because of good news. Subprime worries continued, third-quarter earnings have been weaker than expected and oil is touching all-time record highs. Despite all of that, the market put in a solid showing, setting us up for a week where the main factor will be, for better or worse, a meeting of Federal Reserve policymakers.

Although fed fund futures have fully priced in a quarter-point rate cut at the two-day meeting that concludes Wednesday, there is a better chance than many observers think that the Fed doesn't cut rates at all and instead waits to see the impact of the last rate cut.

Turning to economic indicators , on Tuesday we will see the Conference Board's survey on consumer confidence for October. On Wednesday, in addition to whatever the Fed has in store, we will see the government's first estimate of third-quarter gross domestic product. On Thursday, we will see data on personal income and spending, and we will also see figures for October domestic car and truck sales. Lastly, on Friday we will see the latest monthly payroll data.

As for earnings, third-quarter releases continue to roll in. So far, according to Reuters, we have had 299 companies report. Of those, 65.6% have beat consensus earnings estimates, 22.4% have disappointed, and the remainder have met consensus. Here are some of the companies set to report next week: Kellogg ( K), Procter & Gamble ( PG), Goodyear ( GT), Exxon Mobil ( XOM) and International Paper ( IP).

Finally, here are some articles and papers worth reading:

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  • Barron's reverses course and picks tech (including Google (GOOG)), pans China and wonders about the fallout from the California fires. (Barron's)
  • Connecticut's attorney general is going after the ratings agencies. (CFO)
  • BEA Systems (BEAS) decides to let Oracle (ORCL) deadline expire. (InfoWorld)
  • The next hot China IPO? (The Stalwart)
  • Simon "American Idol" Cowell's new infrastructure fund launches next week. (The Times)
  • Market volatility is putting algorithmic trading under heavy pressure. (Reuters)
  • Yahoo! (YHOO) stock surges on demand for IPO. (Reuters)
  • The SEC has formed a working group to focus on "rampant" U.S. insider trading. (New York Post)
  • Doug Kass vs. the real estate bulls. (
  • Despite developing market growth, when the U.S. sneezes the rest of the world still catches a cold. (Bloomberg)
  • Fake Steve Jobs gets the WallStrip treatment. (WallStrip)
  • Surreal notes from the Fox Business Network launch party. (Observer)
  • Nokia (NOK) is spending $9 billion to turn itself into a consumer media company. (Forbes)
  • Winners and losers in a 50-megabit to-the-home world. (Forbes)
  • Cataract surgery has never been easier or cheaper, thanks to technologies from new companies. (
  • Quants still struggling to reconcile themselves with the credit problem. (The Economist)
  • Quants are on a quest for new and unique factors. (The Economist)
  • CNET (CNET) may be restructuring ahead of a sale. (Dealscape)
  • Merrill's (MER) board is weighing the fate of CEO O'Neal. (The Wall Street Journal)
  • Determining whether we are at record inflation-adjusted oil prices is tricky. (EIA)
At time of publication, Kedrosky had no positions in stocks mentioned, although holdings can change at any time.

Dr. Paul Kedrosky is a former highly ranked sell-side technology equity analyst, and he currently runs a technology finance institute at the University of California, San Diego. He is also a venture partner with Ventures West, an institutional venture capital firm with more than $400 million under management. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. While Kedrosky cannot provide investment advice or recommendations, he appreciates your feedback; click here to send him an email.