Biggest news this week is President Obama travelling to Asia and the G20 Summit
President Barack Obama will spend the next week in Asia, visiting India and Indonesia before heading to the summit of the Group of 20 largest economic powers in Seoul. The G-20 meeting, which starts Thursday, will address trade surpluses and deficits as part of efforts to restore so-called balanced global growth. The world leaders also will consider stronger global banking regulations
Also, earnings from major retailers will be released this week including Disney and Cisco. Earnings are expected to increase.
The Federal government will be release trade statistics later in the week.
The U.S. trade deficit for September, to be released Wednesday, likely changed little from a month earlier, according to a poll of economists by Briefing.com. The deficit widened to $46.3 billion in August as import demand remained strong despite a weaker dollar. The government also will report on September wholesale inventories Tuesday. Next Friday, the Reuters/University of Michigan consumer sentiment index will issue its preliminary reading for November.
