Futures were flat early Tuesday with investors in a wait-and-see mode ahead of retail sales data tomorrow and a slew of corporate quarterly earnings results.
There are no major economic reports on the calendar today. In addition to sales data tomorrow, we also will get information on import and export prices, business inventories and the minutes from the previous FOMC meeting. On Thursday we will get a look at the CPI, the Empire State Manufacturing Index and the weekly jobless claims report. We end the week with reports on Industrial Production and Consumer Sentiment.
There are a number of widely-held blue chip companies due to report their third quarter results this week. Johnson & Johnson reported a 5% decrease in sales, but an increase of 2% in earnings. The producer of pharmaceuticals and household goods also raised earnings guidance for the year. Intel and CSX report after the bell today. Other notables scheduled for the week include JPMorgan Chase, Citigroup, Goldman Sachs, Nokia, Google, IBM, Bank of America, and General Electric.
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