What to watch: Parade of earnings marches on
As if there weren't enough to worry about, next week will have a slew of important third-quarter earnings reports, starting after Columbus day on Monday.
Tuesday is the day of the big banks. Citigroup (C), is expected to earn $1.12 per share. Analysts expect JPMorgan Chase (JPM) to weigh in with $1.38 per share, while Wells Fargo (WFC) should clock in with $1.02 per share. For those not interested in the financials, Intel (INTC) will report after the market closes. Analysts think the chip maker will report 64 cents per share.
Wednesday: The battle of the banks continues, with Bank of America (BAC) up to the plate. Analysts expect a 9-cent loss per share. Two other big financials weigh in on Wednesday: BlackRock (BLK), which analysts think will report $4.71 per share in earnings, and discount brokerage Charles Schwab (SCHW), hoping for 24 cents per share, also reports Wednesday, as does American Express (AXP), on the hook for $1.36.
Thursday: The financials march on: Goldman Sachs (GS), $3.19; Capital One Financial (COF), $1.93; and Fifth Third Bancorp (FITB), 43 cents. Also, a little company called Google (GOOG) will do the big reveal: Analysts think it will find $6.54 per share.
Friday: Morgan Stanley (MS) will finish the financials: Analysts think it earned 54 cents per share. Finally General Electric (GE) chimes in, and investors will be happy if it beats estimates of 38 cents per share.
A hit or a miss in this environment could be a roller coaster ride for stocks.