The Week Ahead: Homes Sales and Jobless Claims Reports, But Apple iPhone Sales Will DOMINATE Headlines

Investors will take a break from reviewing economic data this week but a few housing numbers will paint a current picture of the housing market. Stocks may also try higher levels after last week’s news by the Federal Reserve to add more money into the economy.

The earnings calendar is thin this week but look for numbers to come from a few potentially interesting reports including FedEx (NYSE:FDX), who recently warned of weak numbers.

Don’t Miss: Is the iPhone 5 a BURDEN on Apple?

Look for Apple Inc. (NASDAQ:AAPL) to again dominate headlines when it releases information on iPhone 5 sales and ends the week with retail store sales kicking off on Friday. Investors will also look for Apple’s stock to hit $700 this week.

From Europe, market watchers will keep their eyes for potential news from Spain on whether it will ask for aid or not. The country is expected to do so but it will be a big move should it happen.

Economic Data

Monday: New York Fed September Empire State Survey

Tuesday: Second Quarter Account Balance and September Housing Market Index

Wednesday: August Housing Starts, August Building Permits and August Existing Home Sales

Thursday: Weekly Jobless Claims, September Markit Flash PMI and September Philly Fed Manufacturing Survey

August Leading Index

Fed Speak

Wednesday: Fed Chairman Ben Bernanke privately meets with the Senate Finance Panel.

Earnings

Monday: LDK Solar (NYSE:LDK), Omnova Solutions (NYSE:OMN)

Tuesday: FedEx (NYSE:FDX), Cracker Barrel (NASDAQ:CBRL), Darden (NYSE:DRI), Manchester United (MANU)

Wednesday: Adobe (NASDAQ:ADBE), AutoZone (NYSE:AZO), Bed Bath & Beyond (NASDAQ:BBBY), General Mills (NYSE:GIS)

Thursday: Oracle (NASDAQ:ORCL), ConAgra (NYSE:CAG), Jefferies (NYSE:JEF), Rite Aid (NYSE:RAD), CarMax (NYSE:KMX)

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