Traders will have their plates full with earnings reports in the coming week. But they may want to save some room for
Fed Chairman Alan Greenspan's remarks from Capitol Hill.
"Even if the strong earnings continue next week, there's a good chance the markets will consolidate from the highs," says Randy Diamond, sales trader at Miller Tabak. "The extent of the decline depends on what Greenspan says next Wednesday about monetary policy."
Diamond believes there is a good chance Greenspan will sound more "hawkish" due to continued evidence of a strong economy and rising leverage risk.
The earnings tide starts rolling on Monday, with quarterly earnings releases from companies including
Bank of America
Also scheduled for Monday is a report from
(IBM - Get Report)
On Tuesday the earnings lineup includes big-hitters like
Also on tap for Tuesday are tech powerhouses
(JNPR - Get Report)
(INTC - Get Report)
(YHOO - Get Report)
will also be providing earnings information. Analysts expect to see earnings of 13 cents a share, up from 8 cents last year, on $881 million in sales.
The hectic pace continues on Wednesday with
taking the stage.
Thursday will be equally fast and furious on the earnings front, with companies such as
Also on Thursday will be
Perhaps the most heavily watched earnings release of the day will be
(GOOG - Get Report)
. Analysts expect the search giant to make $1.20 a share, up from 58 cents last year, on $841 million in sales.
Things cool off a bit on Friday, but not much with