Mortgage Mess: Weekend Reading

NEW YORK ( TheStreet) -- Good Sunday afternoon, and welcome to another edition of Weekend Reading. First a look back at the week that just finished, then a look at the week ahead and, lastly, a summary of articles and research papers worth reading.

It was another positive week on the major equity markets. All three major U.S. indices ended higher, with the Nasdaq leading the way with 3.6% gain, the S&P 500 up 1.1% and the Dow Jones Industrial Average rising 0.5%. Tech wasa primary catalyst, with earnings outperformance from companies like Google ( GOOG) taking stock markets higher. But the gains were fairly widespread -- outside of banks, that is. The mortgage fraud allegations continue to make this lifeless sector even more lifeless than usual.

Looking ahead to next week, all eyes are on the escalating mortgage mess. Left with the option of banking executives being either stupid or criminal, many investors are increasingly selecting "all of the above." This saga will grow louder in the coming week, with no good outcomes obvious.

> > Bull or Bear? Vote in Our Poll

Turning to economic indicators, the Fed will issue its Beige Book reviewof economic indicators during the week. Everyone will be looking for hints about QE2, and widespread economic weakness will just reconfirm its likelihood.

As for earnings, next week will bring reports from beleaguered banks Wells Fargo ( WFC), Citigroup ( C) and Bank of America ( BAC).

Also on tap will be reports from tech heavyweight Apple ( AAPL), Caterpillar ( CAT) and Johnson & Johnson ( JNJ).

Lastly, here are some articles and papers worth reading:

--Written by Paul Kedrosky in La Jolla, Calif.

>To contact the staff member responsible for this article, click here: Ross Snel.

>To follow the writer on Twitter, go to http://twitter.com/pkedrosky.

>To submit a news tip, send an email to: tips@thestreet.com.

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. He maintains a widely read blog called Infectious Greed.

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.

More from Rates and Bonds

What's Driving the 10-Year Yield to Historic Levels This Week?

What's Driving the 10-Year Yield to Historic Levels This Week?

U.S. Economy Added 103,000 Jobs in March, Missing Projections

U.S. Economy Added 103,000 Jobs in March, Missing Projections

U.S. Economy Seen Adding Jobs at 'Goldilocks' Pace For Stock Investors

U.S. Economy Seen Adding Jobs at 'Goldilocks' Pace For Stock Investors

Borrowing Costs Surge to Nearly 9-Year High Amid Changing Money Markets

Borrowing Costs Surge to Nearly 9-Year High Amid Changing Money Markets

3 Big Takeaways From Fed Chairman Jerome Powell's First FOMC Meeting

3 Big Takeaways From Fed Chairman Jerome Powell's First FOMC Meeting