Economic: Income & Spending (0.3% & 0.1%), PCE Core (0.2%).
Earnings: Sportswear and goods goliath Nike (NKE) reports before the bell. Analysts expect profits of $1.16 per share compared to the year ago take of $1.06 per share.
Technically, shares have put together a triple descending top during 2011 after a weekly uptrend of 1.75 years. Currently, shares have improved the playing pitch for bears by carving out a bearish flag following a 50/200SMA Death Cross.
Tuesday:
Economic: Case Shiller (-3.9%), Consumer Confidence (60.3).
Earnings: Progress Software (PRGS), Sealy (ZZ), Shaw (SHAW), Synnex (SNX).
After Hours:
Wednesday:
Economic: Mortgage Apps, Weekly Inventories, Pending Home Sales (2.0%).
Earnings: Acuity (AYI), Family Dollar (FDO), General Mills (GIS), KB Home (KBH), Lindsay (LNN), Monsanto (MON).
Thursday:
Economic: Weekly Claims (420K vs. 429K), Chicago PMI (53.5).
Earnings: Constellation Brands (STZ), McCormick (MKC), Schnitzer (SCHN), Worthington (WOR).
After Hours: Apollo (APOL), Darden (DRI), Smith & Wesson (SWHC), Xyratex (XRTX).
Friday:
Economic: Michigan (71.8), ISM (51.1), Construction (-0.5%).
Earnings: NA.