Economic: Net TIC Flows (prior $61.2B), IP & CU (0.2%, 74.8%), NAHB Index (13.0 vs. 13.0 prior).
Earnings: Embattled / government indentured Citigroup (C) is in the spotlight. Analysts expect the financial giant to turn a profit of $0.06 per share versus the year ago's loss of -$0.27. Technically, shares have been pressured along with other big banks past week with the stock now hitting "flat" 50 and 200SMA support and midpoint within 5-month long 20% wide lateral consolidation.
Others: Halliburton (HAL) and Hasbro (HAS).
After Hours: Large cap tech dominates the scene with Apple (AAPL), the market's No.2 most heavily weighted, Dow component IBM (IBM) and cloud computing play VMware (VMW), all in play.
Apple is expected to produce profits of $4.08 compared to prior year's $1.82. Technically, expectations are prone to profit-taking entering report with shares of AAPL gaining about 30% since September to all-time-highs.
Others: Crown (CCK), Steel Dynamics (STLD) and Zions Bancorp (ZION).
Notable: Q3 earnings season will see its first week of heavy and influential reporting beginning with Monday's marquee and muscle-worthy enlistees discussed above. On the economic side, bulls and bears will see a lighter schedule. Fed's Beige Book on Wednesday is one likely market mover as investors look to further clues on quant easing "QE" by Fed at its early November meeting.
Tuesday:
Economic: Housing Starts & Permits (575K, 565K).
Earnings: Financials in the spotlight with BofA, Goldman (GS) and State Street (STT) setting the tone. Others: Coca Cola (KO), EMC (EMC), Harley (HOG), Illinois Tool (ITW), J&J (JNJ), MGIC (MTG), NY Times (NYT), Peabody (BTU), UnitedHealth (UNH), Weatherford (WFT).
Featured, Dow component BofA (BAC) expected to post a profit of $0.16 vs. last year's loss of -$0.26. Under increased investor strain related to political foreclosure wrangling last week, shares of BAC hit 52-week lows on massive two day sell-off.
After Hours: Altera (ALTR), Cree (CREE), Gilead (GILD), Intuitive Surgical (ISRG), Stryker (SYK), Tupperware (TUP), Western Digital (WDC) and Yahoo! (YHOO).
Wednesday:
Economic: Weekly Crude data, Mortgage Apps and Fed's Beige Book. The anecdotal report on economic conditions throughout various US regions will be latest report for bulls to confirm QE announcement from Fed.
Earnings: Altria (MO), AMB (AMB), AMR (AMR), Blackrock (BLK), Boeing (BA), Delta (DAL), Eaton (ETN), Genzyme (GENZ), M&T (MTB), Morgan Stanley (MS), Stanly B&D (SWK), US Air (LCC) and Wells Fargo (WFC).
After the Close: Amylin (AMLN), Core Labs (CLB), eBay (EBAY), Netflix (NFLX), Noble (NE), Schnitzer (SCHN), Seagate (STX), and Xilinx (XLNX).
Thursday:
Economic: Weekly Claims (455K vs. 462K prior), Continuing Claims (4.40M vs. 4.39M), Leading Indicators (0.3% vs. prior 0.3%) and Philly Fed (1.4 vs. prior -0.7).
Earnings: Dow components AT&T (T), Caterpillar (CAT), McDonalds (MCD) and Travelers (TRV) lead another heavy a.m. session (BBT, CAL, CY, DHR, DO, FITB, HBAN, NUE, NTRS, NVR, PCX, PM, LUV, STI, VFC, XRX) of reporting.
Other notables include copper mining giant Freeport (FCX), railroad operator Union Pacific (UNP), air and ground specialist (UPS) and "Best Second Derivative Play" on Apple, Cirrus Logic (CRUS) as hailed by Mad Money's James Cramer back in May but whose working relationship with Apple on future products has come under fire in past month.
After Hours: Amazon (AMZN), American Express (AXP), Baidu.com (BIDU), Bucyrus (BUCY) and SanDisk (SNDK) highlight busy (COF, CMG, CB, CTXS, CYMI, QLGC, RMBS, RVBD, SYNA, WOOF and WIT) schedule.
Friday:
Economic: N/A.
Earnings: Honeywell (HON), Exelon (EXC), Ingersoll Rand (IR), Ericsson (ERIC), Schlumberger (SLB), Snap-On (SNA), T Rowe Price (TROW) and Verizon (VZ).
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