As the quarterly reports continue to roll out and the market continues to rally, optimism seem to be rising. Analysts certainly have high hopes for some companies reporting earnings this week.

Analysts surveyed by Thomson Reuters expect First Solar Inc. (NASDAQ: FSLR) to report first-quarter earnings of $1.51 per share, which is 62.3% higher than a year ago. Revenue for the quarter is expected to be 105.6% higher, or $404.9 million. First Solar earnings have topped expectations in the past five quarters, by as much as 47.3%. The long-term EPS growth forecast is 40.6% and the forward PE ratio estimate is 23.0. In the previous quarter, Tempe, Ariz.-based First Solar reported having more cash on hand than debt. The First Call consensus recommendation is to buy FSLR; CNBC recently included it as a stock pick. First Solar has announced that it will build new solar power plants in Nevada and Germany. Its share price has risen 6.9% since the beginning of the year to $147.46.

Ford (NYSE: F) management continues to be a little rash by saying it will not require government bailout money. It does have the strongest balance sheet of the Big Three and holds the most cash.

According to Reuters, "Ford Motor Co. has enough liquidity to fund its restructuring plan and despite the deep downturn in auto sales still sees no need to ask for government loans, Chief Executive Alan Mulally said."

Ford is making the mistake of creating a plan based on what it can control and refusing to admit the the most important element of an improved U.S. car market is beyond the power of management decisions.

Ford has proved adroit at cutting costs and may be able to get its expenses down to a point where its North American operations can break even if total U.S. vehicles sales in 2009 are 11 million or 12 million units. But, what if the recession bites harder and that figure moves to 10 million or below? Every million vehicle sales counts for about $25 billion. Expense reduction at America's car companies may not be able to make up for that level of devastation in demand.

Here's a look at what's on the economic calendar for the week of January 5, 2009:

• Construction spending (Nov. 2008): Monday, 10:00 AM
• Ford Motor Co. U.S. sales (Dec. 2008): Monday, 1:00 PM
• New motor vehicle sales (Dec. 2008): Monday, 4:00 PM
• Factory orders (Nov. 2008): Tuesday, 10:00 AM
• Pending home sales (Nov. 2008): Tuesday, 10:00 AM
• ISM Non-Manufacturing Survey (Dec. 2008): Tuesday, 10:00 AM
• Monster Employment Index (Dec. 2008): Wednesday, 6:00 AM
• Challenger job-cut announcement (Dec. 2008): Wednesday, 7:30 AM
• Public debt (Dec. 2008): Wednesday, 3:00 PM
• Consumer credit (Nov. 2008): Thursday, 3:00 PM
• Employment situation (Dec. 2008): Friday, 8:30 AM
• Wholesale trade (Nov. 2008): Friday, 10:00 AM

For expectations from some of this week's earnings releases, see The week in preview: Family Dollar, Bed Bath & Beyond, KB Home, and others.

Because so much of the recent market volatility has been tied to announcements of employment numbers, consumer credit, and other such economic data, here's a look at the schedule for some of the economic data to be released the week of November 3, 2008.

• ISM manufacturing survey (Oct. 2008): Monday, 10:00 AM
• Construction spending (Sept. 2008): Monday, 10:00 AM
• Ford Motor Co. sales (Oct. 2008): Monday, 1:00 PM
• New motor vehicle sales (Oct. 2008): Monday, 4:00 PM
• Factory orders (Sept. 2008): Tuesday, 10:00 AM
• Challenger job cut announcement (Oct. 2008): Wednesday, 7:30 AM
• ISM nonmanufacturing survey (Oct. 2008): Wednesday, 10:00 AM
• Monster employment index (Oct. 2008): Thursday, 6:00 AM
• Preliminary productivity and costs (Q3): Thursday, 8:30 AM
• Public debt (Oct. 2008): Thursday, 3:00 PM
• Employment situation (Oct. 2008): Friday, 8:30 AM
• Wholesale trade (Sept. 2008): Friday, 10:00 AM
• Pending home sales (Sept. 2008): Friday, 10:00 AM
• Consumer credit outstanding (Sept. 2008): Friday, 3:00 PM

For a look at expectations for this coming week's earnings releases, see The week in preview: Expectations remain high for energy and oil.

I'm as guilty as the next American, but as far as fuel costs are concerned, it seems that we've become a nation of folks who love to complain about $3.00 gasoline but are doing little to actually fuel up less frequently. If public transportation isn't a viable option and carpooling doesn't make sense, one option could be a change in your current ride.

Some consumers have moved to smaller, more fuel-efficient automobiles, but this shift is impacting the mid-sized market, rather than the hulks of the highway. Since 2000, the market share for small cars (and compact trucks) has risen to 31.8% from 21.5%. The mid-sized market, on the other hand, including models such as Toyota Motor's (NYSE: TM) Camry and General Motors' (NYSE: GM) Chevy Malibu, has seen market share sink to 40.1% from 51.3%.

Now on the other hand, some drivers don't think an extra $10 or so every time they fill up is worthy of a lifestyle change. Large vehicles, including luxury SUVs, remain as popular as ever. At the turn of the millennium, these vehicles accounted for 27.2% of all sales. In the first quarter of 2007, large vehicles earned a 28.1% share.

While models such as the Cadillac Escalade and Land Rovers are still in high demand, an overall move to fuel efficiency has become a matter for Capital Hill. The Senate is deliberating on a bill that would force automakers to raise their average fuel economy to 35 miles per gallon (mpg) from the current 27.5 mpg by 2020. If high gas prices or the threat of a struggling planet don't force us to consider more responsible vehicle choices, maybe the nation's lawmakers will leave us no choice.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.