Investors turn attention to Fed, China

With the government back in business and the threat of a U.S. default put aside for now, investors are focusing on a likely continuation of accommodative Fed policy, as well as new figures showing a rebound in China economic growth. Futures are pointing to a higher open this morning, giving the S&P 500, the Russell 2000, and the Dow Transports a chance to extend their record highs achieved during Thursday's session.

There are no government economic reports scheduled for today, but the Conference Board will be issuing its September index of leading economic indicators at 10 a.m. ET. Economists are looking for that index to match August's 0.7 percent increase.

Dow component General Electric (GE) and Morgan Stanley (MS) lead this morning's list of corporate earnings reports. Also reporting this morning: Baker Hughes (BHI), Honeywell (HON), Interpublic Group (IPG), Ingersoll-Rand (IR), LabCorp (LH), Schlumberger (SLB), SunTrust Banks (STI), and Textron (TXT).

Google (GOOG) leads this morning's list of stocks to watch, reporting third quarter profit of $10.74 per share, excluding certain items, topping estimates of $10.34. Revenue also beat estimates, thanks in part to an expansion in Google's mobile ad business.

Chipotle Mexican Grill (CMG) reported third quarter profit of $2.66 per share, short of the $2.78 consensus estimate, but revenue topped estimates. The restaurant chain saw a jump in customer traffic over a year earlier, and said it would raise menu prices by three to five percent next year.

Capital One (COF) earned $1.86 per share for the third quarter, six cents above estimates, with revenue topping consensus as well. The credit card issuer set aside $849 million to cover credit card defaults, 16 percent less than it had in the year-ago period.

Intuitive Surgical (ISRG) beat estimates by 49 cents with third quarter profit of $3.99 per share, but revenue of $499 million was well short of the $526 million consensus analyst estimate. The maker of surgical products is feeling the impact of concerns over its da Vinci surgical robots.

CF Industries (CF) more than doubled its quarterly dividend, with the nitrogen fertilizer producer raising the payout to $1 per share from 40 cents. Separately, CF and other fertilizer producers like Mosaic (MOS), and Agrium (AGU) could see some interest today after Norwegian fertilizer producer Yara said it would consider making a major investment in the United States.

Las Vegas Sands (LVS) earned 82 cents per share for the third quarter, six cents above estimates, with revenue topping consensus as well. Results were helped by significant growth at the company's Macau resorts. The casino operator also raised its quarterly dividend to 50 cents per share from 35 cents.

Advanced Micro Devices (AMD) reported third quarter profit of four cents per share, excluding certain items, two cents above estimates. However, investors are focusing on the six percent decline in semiconductors designed for personal computers.

J.C. Penney (JCP) is matching moves by rivals like Macy's (M) and opening its doors at 8 p.m. on Thanksgiving night.

Activision (ATVI), Electronic Arts (EA), Take-Two Interactive (TTWO) and other videogame stocks may benefit from NPD Group's latest report showing videogame industry sales rose 27 percent in September, helped by soaring sales of Take-Two's new Grand Theft Auto V game.