This will be another busy week for earnings, plus Wall Street is eagerly waiting for Thursday’s GDP report.
On Monday, the Chicago Fed will report on its National Activity Index for September. Hopefully, we’ll see more signs of improvement in the overall economy. Also, Verizon (VZ) reports its earnings.
On Tuesday, we’ll get an important report on consumer confidence and the Case-Shiller Index will report on home prices in August. Visa (V) is due to report its earnings.
On Wednesday, we’ll get the durable goods order for September plus a report on new-home sales. It will be interesting to see if there’s improvement in these critical areas. Also, the Senate Banking Committee will look into dark pool and flash orders. This has received a lot of attention lately.
Thursday will be the big day. The government will release its first estimate on third-quarter GDP growth. The number will be revised in future reports, but this “flash estimate” will give traders a good idea of where the number will be. If GDP comes in over 3% or 4%, then we may be able to say that the recession is over.
Finally, on Friday we’ll get the report on personal income for September.