Economic: Bearish plate of Italian fiscal woes served up with increased scrutiny of Debt PIIGS and impact on credit markets and global economies in focus.
Earnings After Hours: Q2 earnings season kicks off with Dow constituent and aluminum concern Alcoa (AA) and semi (SMH) and Naz' component Novellus (NVLS) reporting. Analysts expect Alcoa to produce profits of $0.33 per share compared to the year ago's $0.13.
Technically, bulls report shares of AA are building a first stage base after a count re-set and enjoying a small, low level consolidation above 50SMA support within the right side of a cup or v-shaped pattern. Bears may see a more complex situation like a quirky H & S top developing.
Tuesday:
Economic: Trade Balance (-$44.0B).
Earnings: Fastenal (FAST), Infosys (INFY), Wolverine (WWW).
After Hours: ADTRAN (ADTN).
Wednesday:
Economic: Import / Export, Weekly inventories, Treasury Budget (-$45.0B), FOMC Minutes.
Earnings: ASML (ASML).
After Hours: Marriott (MAR), YUM! Brands (YUM).
Thursday:
Economic: Weekly Claims (418K vs. 418K prior), Retail Sales & Ex-Auto (-0.2% & 0.0% vs. -0.2% & 0.3%), PPI & Core (-0.2% & 0.2% vs. 0.2% & 0.2%).
Earnings: Commerce Bancshares (CBSH), Fairchild (FCS), JP Morgan (JPM), Progressive (PGR).
After Hours: Google (GOOG), JB Hunt (JBHT), Nat Bev (FIZZ), Resources Connect (RECN).
Friday:
Economic: CPI & Core (-0.1% & 0.2% vs. 0.2% & 0.3%), IP & CU (0.2% & 76.8%), Michigan (71.4), Empire (1.0).
Earnings: Citigroup (C), Genuine Parts (GPC), Mattel (MAT), Webster Financial (WBS).
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