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We’re transitioning out of earnings season into a more economically data dependent portion of the calendar.  The beginning of the week will represent the real end to earnings season as Home Depot and Target release the last of the major market moving reports of the quarter.  Let’s see what’s on tap:

Monday – An unusually busy Monday.  Lowe’s will report earnings before the bell in addition to retails sales, empire state manufacturing, business inventories and Ben Bernanke speaking at noon.  I can’t remember the last time the market declined when Bubbly Ben made an appearance.

Retail Sales 8:30 AM ET
Empire State Mfg Survey 8:30 AM ET
Business Inventories 10:00 AM ET
Ben Bernanke Speaks 12:00 PM ET

Tuesday – Home Depot and Target will both report important earnings announcements in addition to industrial production.

ICSC-Goldman Store Sales 7:45 AM ET
Producer Price Index  8:30 AM ET
Redbook 8:55 AM ET
Industrial Production 9:15 AM ET

Wednesday – No market moving earnings report.  Housing starts will be the market mover of the day.

Consumer Price Index  8:30 AM ET
Housing Starts  8:30 AM ET
EIA Petroleum Status Report  10:30 AM ET

Thursday – Sears is certain to wow the Wall Street community with a disastrous report on their failing business transition.  The quarter will likely hinge on how well Eddie Lampert traded swaps this quarter.    The calendar is chock full of news that will actually matter:

Jobless Claims  8:30 AM ET
Leading Indicators  10:00 AM ET
Philadelphia Fed Survey  10:00 AM ET
EIA Natural Gas Report  10:30 AM ET

Friday – No major market moving news, but it is an option expiration day so markets are likely to be volatile.

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