Gmail – Making Gmail show filtered folder first instead of Inbox

Yes, you go to settings - filters and create new filter then put your outlook address in the from address, go to create filter from this search and use the apply the label selection as the rule and then create filter and have it apply to the # matching conversations that it found from the "search"

This will apply it to all incoming messages that meet your criteria (you can specify additional criteria like subject containing "FWD") and any already existing "conversations" that match your criteria

As of November 2012 this is now possible with a simple search

has:nouserlabels

Finds all messages without any of your own labels (excludes automatic labels like inbox, spam, and trash). Since Gmail applies labels to individual messages, you might see results that appear to have labels; in this case, another message in the same conversation thread has had a label applied to it.

Source: Search for emails by size and more in Gmail - Official Gmail Blog

Source: Using advanced search - Gmail help