This week is busy with corporate earnings and economic news,
leading up to the key monthly payrolls report on Friday.
Durable-goods orders will be released at 8:30 a.m. ET today.
Economists expect growth of 1.6 percent, up from 0.8 percent the
previous month. The report is unlikely to affect sentiment because
it covers the month of December and is therefore backward-looking.
Pending home sales will be reported at 10 a.m. ET.
The earnings calendar features industrial blue chip Caterpillar
before the opening bell and Internet giant Yahoo after the closing
Consumer-confidence data and the Case-Shiller Index of home prices
will come out tomorrow, along with quarterly results from Eli
Lilly, EMC, U.S. Steel, and Amazon.
The parade of labor market data begins Wednesday with the ADP
private-sector payrolls report. The government will also report
gross domestic product for the fourth quarter, and the Federal
Reserve will release monetary policy in the afternoon.
Thursday will bring initial jobless claims before the bell
and Chinese manufacturing data in the evening. Earnings are
expected from companies including Viacom, Hershey, and Whirlpool.
January non-farm payrolls are the highlight of Friday, but European
manufacturing reports hit even earlier. Consumer sentiment,
manufacturing and construction spending follow shortly after the
open. Merck, Tyson Foods, and Mattel will report results.
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