Heavy data, earnings flow this week
This week is packed with economic news and earnings, with
Wednesday as the busiest session.
It starts quietly with German retail sales early this morning and U.S. pending home sales at 10 a.m. ET. Forecasters expect a gain of 1 percent in the housing number, up from the previous month's 0.8 percent drop.
Corning, National Oilwell and Sohu.com report earnings before the opening bell. Range Resources, Hartford Financial, Herbalife, and Suncor Energy follow in the afternoon.
The Case-Shiller index of home prices and consumer confidence are the main economic releases tomorrow. Pre-market earnings include Merck, BP, Boston Scientific, Valero Energy, Archer Daniels Midland, Goodyear Tire & Rubber, 3-D Systems, and Sprint. Post-market names include eBay, Aflac, U.S. Steel, Seagate Technology, Genworth Financial, Express Scripts, Riverbed Technology, and Trinity Industries.
Wednesday brings four important economic reports: European inflation, ADP's private-sector payrolls report, and first-quarter gross domestic product in the morning, along with the Federal Reserve's interest-rate announcement midway through the afternoon. Time Warner, Actavis, Level 3 Communications, International Paper, and Cemex announce numbers before the opening bell. JDS Uniphase, MetLife, Williams, Western Digital, Terex, and Yelp follow after the close of trading.
Thursday features the Institute for Supply Management's manufacturing report, initial jobless claims, and construction spending. ExxonMobil, ConocoPhillips, Cigna, MasterCard, and Teva Pharmaceutical announce results in the morning. Akamai Technologies, Expedia, Kraft Foods, Western Union, and Fluor are the afternoon's big names.
The week concludes with the Labor Department's key non-farm payrolls report Friday morning. Earnings are also due from Chevron, CVS Caremark, and Estee Lauder.