Wall Street enters the thick of earnings in week three of the season with heavyweights Apple(AAPL) - Get Report and Alphabet(GOOGL) - Get Report on tap.

Instead of a widely expected earnings decline, the third-quarter season could mark a turning point. Thomson Reuters now anticipates 1.1% growth in S&P 500 companies over the quarter, reversing previous expectations of a decline. If expectations pan out, S&P 500 companies would see blended growth for the first time since the second quarter of last year. Wall Street has endured the longest earnings recession since 2009.

So far, 23% of S&P 500 companies have reported on their recent quarters with nearly four-fifths exceeding analysts' estimates. The beat rate is above the historical average of 63%. Nearly two-thirds of S&P 500 companies have topped sales estimates.

In tech and telecoms, Sohu.com(SOHU) - Get Report will report on Monday; Apple, Pandora (P) , Sprint(S) - Get Report and AT&T(T) - Get Report on Tuesday; GrubHub(GRUB) - Get Report , Groupon(GRPN) - Get Report , Garmin(GRMN) - Get Report , NXP Semiconductors(NXPI) - Get Report , Tesla(TSLA) - Get Report , Texas Instruments(TXN) - Get Report , and Western Digital(WDC) - Get Report on Wednesday; Alphabet, Amazon(AMZN) - Get Report , Expedia(EXPE) - Get Report , Baidu(BIDU) - Get Report , LinkedIn (LNKD)  and Twitter(TWTR) - Get Report on Thursday; and Xerox(XRX) - Get Report on Friday.

Alphabet, Apple and NXP Semiconductors are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys of sells GOOGL? Learn more now.

Industrials and energy reports will filter in including from 3M(MMM) - Get Report , Caterpillar(CAT) - Get Report , DuPont(DD) - Get Report  and Lockheed Martin(LMT) - Get Report on Tuesday; Boeing(BA) - Get Report and Hess(HES) - Get Report on Wednesday; ConocoPhillips(COP) - Get Report and Dow Chemical(DOW) - Get Report on Thursday; and Chevron(CVX) - Get Report , Exxon Mobil(XOM) - Get Report  and Phillips 66(PSX) - Get Report on Friday.

Dow Chemical is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys of sells DOW? Learn more now.

In consumer and health stocks, VF Corp(VFC) - Get Report , Kimberly-Clark(KMB) - Get Report and Visa(V) - Get Report on Monday; Panera Bread (PNRA) , General Motors(GM) - Get Report , JetBlue(JBLU) - Get Report , Eli Lilly(LLY) - Get Report , Merck(MRK) - Get Report , Procter & Gamble(PG) - Get Report  and Under Armour(UA) - Get Report on Tuesday; Biogen(BIIB) - Get Report , Buffalo Wild Wings (BWLD) , Coca-Cola(KO) - Get Report  and Mondelez(MDLZ) - Get Report on Wednesday; Amgen(AMGN) - Get Report , Bristol-Myers(BMY) - Get Report , Celgene(CELG) - Get Report , Colgate-Palmolive(CL) - Get Report , Ford(F) - Get Report  and Pinnacle Foods (PF) on Thursday; and AbbVie(ABBV) - Get Report , Anheuser-Busch(BUD) - Get Report , Bloomin Brands(BLMN) - Get Report , Mastercard(MA) - Get Report and Hershey(HSY) - Get Report on Friday.

Panera Bread, Visa and Bristol-Myers are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys of sells PNRA? Learn more now.

Investors will get a reading on the strength of the U.S. economy with an advance estimate of third-quarter GDP on Friday. Analysts anticipate the U.S. economy to have grown at a 2.5% pace over the third quarter, a significant pickup from 1.1% growth over the first half of the year. Strength in consumer spending and a recovery in business investment are expected to have boosted U.S. growth.

The economic calendar in the coming week also includes consumer confidence for October and the Case-Shiller 20-City Home Price Index for August  on Tuesday; international trade in goods and new home sales for September on Wednesday; and durable goods orders and pending home sales for September on Thursday.

The Federal Reserve remains on watch in the coming week with a number of central bank officials set to make remarks, including New York Fed President William Dudley and St. Louis Fed President James Bullard. Fed commentary in recent weeks has taken on even more significance as investors pick apart comments for clues as to whether the central bank is ready to make a move come December.

"We anticipate the Fed will increase their target rate in December," Bill Merz, investment strategist at U.S. Bank's Private Client Group in Minneapolis, told TheStreet. "They have taken every opportunity in recent weeks to talk up market expectations, and with the job market along with price and wage data continuing to trudge forward, the Fed has the data they need to justify a near term rate hike. It would take meaningful deterioration in these figures to adjust our outlook for the Fed."

The chances of a rate hike in December increased after the Fed opted to leave rates unchanged at the September meeting, though mentioned that the case for a hike had strengthened. The chances of a December rate hike sits at 63%, according to CME Group fed funds futures.