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Earnings, Fed index, home data on tap

David Russell (david.russell@optionmonster.com)

Earnings dominate this week's agenda, with few economic reports on the calendar.

Today's only data reports are the Chicago Federal Reserve's national activity index at 8:30 a.m. ET and existing home sales at 10 a.m. ET. Neither is likely to have a big impact on market sentiment. Fast-food giant McDonald's, toy company Hasbro, chip maker Textron, and streaming-video stock Netflix will release quarterly results.

Tomorrow features the FHFA house price index and the Richmond Fed's regional index. Altera, Broadcom, DuPont, Discover Financial, Lockheed Martin, AT&T, Travelers, United Parcel Service, and United Technologies report earnings.

There is no U.S. economic data scheduled for release on Wednesday, though European countries will announce their purchasing managers index. Boeing, Caterpillar, Citrix Systems, EMC, Ford, Qualcomm, Seagate Technology, Visa, and Western Digital will issue quarterly numbers.

Thursday is the busiest day for economic news, with the German IFO survey of business confidence, U.S. durable-goods orders, and weekly jobless claims. Biogen Idec, Bristol-Myers Squibb, Dow Chemical, General Motors, 3M, and Starbucks report.

Friday brings the final estimate of July consumer sentiment, plus Tyco's earnings.

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