Economic: N/A.
Earnings: Credit card processor Global Payment (GPN). Analysts expect $0.69 versus prior year's $0.71 per share result. Sympathy plays Visa (V) and MasterCard (MA) on traders radars.
Notable: Q3 earnings season is underway with a handful of marquee and muscle-worthy names able to tone set for bulls or bears this week. Intel is first out-the-gate Tuesday night with fellow Dow component GE (GE) taking up the slack on Friday.
On the economic side, bulls and bears will begin the week by continuing to weigh last Friday's weak jobs data against increasingly likely quant easing from the Fed—and to which Tuesday's FOMC Minutes might provide additional clues regarding future monetary action.
Tuesday:
Economic: FOMC Minutes. Bulls will be scrutinizing report for clues to further confirm increased confidence in quantitative easing as all but written in stone.
Earnings: Fastenal (FAST). After the Close: Intel (INTC), the world's largest but under scrutiny of late semiconductor outfit, is expected to post profits of $0.50 per share versus $0.33 from a year ago. Technically, out of favor positioning gives bulls benefit of the doubt in front of release.
Others: ADTRAN (ADTN), CSX (CSX) and Linear (LLTC).
Wednesday:
Economic: Weekly Crude data, Mortgage Apps, Import / Export Prices, Treasury Budget (-$32.0B).
Earnings: ASML (ASML), Host Hotels (HST), JP Morgan (JPM).
After the Close: Apollo (APOL).
Thursday:
Economic: Weekly Claims (450K vs. 445K), Continuing Claims (4.45M vs. 4.46M), PPI & Core (0.2%, 0.1%), Trade Balance (-$44.5B).
Earnings: Commerce Bancshares (CBSH), Fairchild (FCS), Landstar (LSTR), Progressive (PGR), Safeway (SWY), Winnebago (WGO), WW Granger (GWW).
After The Close: Large cap tech represented by perennially No.2 broad-line semi Advanced Micro (AMD) and still dominant but encroached upon (BIDU) internet search engine Google (GOOG).
Analysts expect AMD to turn a profit of $0.06 compared to last year's loss of -$0.18 per share while Google is anticipated to increase its profits by $0.78 to $6.67 per share.
Technically, shares of AMD, like INTC, have lagged both the semis and broader market, making the the game of "green catch-up" in shares a stronger-than-otherwise possibility. Shares of GOOG have recently lagged but have found consolidation support off its 200SMA as the stock tests its YTD logarithmic downtrend line on the weekly.
Friday:
Economic: CPI & Core (0.2%, 0.1%), Retail Sales (0.4%, ex-Auto 0.4%), Empire (6.0 vs. prior 4.10), Michigan (Oct) (68.6 vs. 68.2) and Business Inventories (0.5%).
Earnings: Will General Electric (GE) continue to bring good things to life for bulls? Analysts expect profits of $0.27 compared to prior year's $0.22 per share. Technically, much like the broader market GE staged a key breakout last week and looks poised for higher prices.
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