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Earnings will dominate the calendar during this holiday shortened week.  On the economic front, the calendar is relatively light.  The banks will be drivers of most of the action on the earnings calendar.  Let’s see what’s on tap:

Tuesday – Citigroup reports in the morning and IBM reports in the afternoon.  Both should be major market movers.

Bank of Canada Announcement 9:00 AM ET

State Street Investor Confidence Index 10:00 AM ET

Wednesday –Bank of America, Wells Fargo & Morgan Stanley report in the morning.  EBay reports in the afternoon.

ICSC-Goldman Store Sales 7:45 AM ET

Housing Starts 8:30 AM ET

Producer Price Index 8:30 AM ET

Redbook 8:55 AM ET

Thursday – Goldman Sachs reports in the morning followed by American Express, Capital One in the afternoon.

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

EIA Petroleum Status Report 11:00 AM ET

Friday –There are no economic reports, but GE and McDonalds earnings will set the tone for market direction.