Heads up: After a week full of economic and earnings reports that rocked the stock market, this holiday shortened week may be relatively...

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Heads up: After a week full of economic and earnings reports that rocked the stock market, this holiday shortened week may be relatively calm. U.S. financial markets are closed Monday in honor of the Martin Luther King Jr. Day and there are few major economic reports due out besides Thursday’s monthly update on sales of existing homes, which have been in a downward spiral much of the past year.

Tuesday: The Northwest Multiple Listing Service releases its home-sales report for 2007.

Thursday: Microsoft releases its second-quarter financial results after the market closes and discusses the results in a 2:30 p.m. conference call that will be webcast live at www.microsoft.com/msft…. Alaska Air Group discusses its fourth-quarter financial results in an 8:30 a.m. conference call being webcast live at www.alaskaair.com/company, Investor Information section. … Former Federal Reserve Chairman Alan Greenspan talks about the global economy at the Westin Bayshore in Vancouver, B.C., in an event sponsored by BMO Financial Group.

Friday: Heritage Financial discusses its fourth-quarter financial results in a 10 a.m. conference call. It’s accessible at 877-209-0397, access code 906083.