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Earnings dominate week's calendar

David Russell (david.russell@optionmonster.com)

Corporate earnings will likely be the dominant event on this week's calendar, as mega-bank Citigroup gets things rolling this morning.

The New York Federal Reserve will also release its Empire manufacturing index at 8:30 a.m. ET. Economists expect a reading of 5, up from 9.2 in March. The National Association of Homebuilders follows with its housing market index at 10 a.m. ET. It's forecast to inch up to 45 from 44 last month.

Tomorrow brings quarterly reports from BlackRock in the morning, followed by Yahoo and Intel after the close of trading. Germany will also report its ZEW index of economic sentiment, while the U.S. government will announce housing starts and building permits.

Bank of America is the main report Wednesday morning, followed by American Express and eBay after the closing bell. The Fed will also release its survey of economic conditions, known as the Beige Book.

The main economic headline Thursday will be weekly jobless claims. It will also be busy with earnings as Morgan Stanley, Microsoft, PepsiCo, and Verizon release their numbers.

Friday brings few economic data but will feature results from General Electric, Honeywell, and McDonald's.

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