Futures Edge Higher, Earnings in Focus
Good news for a Monday morning: stock index futures are pointing to a modestly higher open this morning, rather than what happened exactly 22 years ago today - the infamous crash of 1987. If the Dow were to fall a similar percentage as it did that day, we'd be looking at a 2200 point drop.
Earnings reports will play a key role this week in determining the market's direction following two consecutive weekly gains. Quarterly reports out this morning include: B&T ; Eaton ; Gannett ; Hasbro .
After the bell reports include: Apple; Boston Scientific ; Texas Instruments .
Obviously, the Apple report will get a great deal of attention after the bell, though the Texas Instruments report will also be watched closely for indications about the health of the semiconductor industry.
On the economic calendar, Fed Chairman Ben Bernanke gives a speech on current economic conditions at 11 am New York time, while the National Association of Home Builders is out with its monthly sentiment index at 1 pm. Economists are looking for a slight increase to a reading of 20 for October, versus 19 in September.