THIS WEEK'S MARKET MOVERS

Monday: Durable goods and pending home sales are the major economic reports being released. Caterpillar (NYSE:CAT) and Yahoo (NASDAQ:YHOO) earnings could sway markets.

Tuesday: Eli Lilly (NYSE:LLY), Pfizer (NYSE:PFE), Tupperware (NYSE:TUP), Amazon (NASDAQ:AMZN), and International Paper (NYSE:IP) are just some of the 120 companies reporting today. Consumer confidence and the S&P Case-Shiller report will be at the forefront of economic reports.

Wednesday: Although Facebook (NASDAQ:FB) reports earnings, expect the fourth-quarter GDP report and FOMC minutes to dominate market sentiment.

Thursday: Personal income and spending and jobless claims data will be released this morning. Altria Group (NYSE:MO), Colgate-Palmolive (NYSE:CL), and UPS (NYSE:UPS) will report earnings.

Friday: Employment data will be released, although I suspect motor vehicle sales will have more impact on market direction. 

THIS WEEK'S MARKET MOVERS

• Monday: US bourses are closed for Martin Luther King, Jr. Day. European and Asian earnings will continue to roll in, so be prepared for a little extra volatility on Tuesday.

• Tuesday: Existing home sales will be reported before the open. On the earnings front, Coach (NYSE:COH), CSX Corp. (NYSE:CSX), DuPont (NYSE:DD), Google (NASDAQ:GOOG), and Verizon (NYSE:VZ) are all on tap.

• Wednesday: All eyes will be on Apple's earnings today. Additionally, Abbott Labs (NYSE:ABT), McDonald's (NYSE:MCD), SAP AG (NYSE:SAP), and Textron (NYSE:TXT) are all reporting earnings. No major economic news will be released.

• Thursday: Jobless claims, PMI Manufacturing, and petroleum inventories will be the main economic reports, while UPS' (NYSE:UPS) earnings report will provide further insights into consumer and business activity.

• Friday: Housing is back in focus as the new home sales report is released at 10:00 a.m. EST.

THIS WEEK'S MARKET MOVERS

THIS WEEK'S MARKET MOVERS

Monday: European and Asian news are likely to drive markets, as there are no meaningful economic reports from the US.

Tuesday: Consumer credit figures will be released at 3:00 p.m. EST. Expect light trading as investors wait for Alcoa (NYSE:AA) to kick off earnings seasons and report after the close.

Wednesday: On this day in 2007, Steve Jobs debuted the first iPhone (NASDAQ:AAPL). Earnings reports are still light today.

Thursday: Given January 4's disappointing employment report, expect the 8:30 a.m. EST jobless claims data to carry more weight than normal. Market participants will pay particular attention to continuing claims data.

Friday: International trade and import / export prices will be reported. One the earnings front, Wells Fargo (NYSE:WFC) reports earnings.