Wednesday will be a mixed bagged, with Jack In The Box , Cisco , Deere and Macy's expected to report earnings. Macy's investors are looking for the company to shed some light on the ongoing litigation with Martha Stewart and J.C. Penney .
Krill will be watching Cisco and expects the company to report in-line results, with pressures on enterprise spending due to the sequester. Japanese first-quarter GDP will also be released, with a 70-basis-point increase expected.
Thursday features more retail companies, with J.C. Penney, Kohls , Nordstrom and Walmart all set to report earnings. J.C. Penney investors will be focused on the turnaround story and what Mike Ullman, the new CEO, has to say with same-store sales falling 16% in a company pre-announcement.
Thursday also features Core CPI and CPI numbers from both the U.S. and Europe. U.S. housing starts will again be in focus as investors will look to see if April's momentum, which logged over 1 million starts, has carried over to May.
-- Written by Bret Kenwell in New York.