TheOptionMentor.com: THIS WEEK'S MARKET MOVERS

Sunday, October 21, 2012

THIS WEEK'S MARKET MOVERS

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Given the absence of major economic news, earnings will drive market direction early in the week. Monday's reports by Caterpillar (NYSE:CAT) and Yahoo (NASDAQ:YHOO) will kick things off, followed by a heavy reporting day on Tuesday (Facebook (NASDAQ:FB), 3M (NYSE:MMM), DuPont(NYSE:DFT), Boeing (NYSE:BA), UPS (NYSE:UPS), and Xerox (NYSE:XRX) are among widely owned stocks reporting). Moreover, 216 companies will report earnings on Thursday, including Apple (NASDAQ:AAPL).

Monetary policy and economic news will hit the tape on Wednesday as the FMOC concludes its monthly two-day meeting and is set to release notes at 2:15 p.m. EDT.

After Moody's reaffirmed Spain's debt as investment grade, and with the European Summit concluded, look for Spanish Prime Minister Rajoy to officially ask for a bailout for the country, which is a step most analysts agree would be positive for the market.

Friday's GDP report will be the most significant economic report of the week.

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