Reporting before the market opens are Procter & Gamble (PG) - Get ReportMondelez International (MDLZ) - Get Report, Anheuser-Busch (BUD) - Get Report, Royal Dutch Shell (RDS.A) , Colgate-Palmolive (CL) - Get Report and Time Warner Cable (TWC) . Afternoon reports are expected from LinkedIn (LNKD) , Expedia (EXPE) - Get Report and FireEye (FEYE) - Get Report.
TheStreet's Jim Cramer, co-portfolio manager of the Action Alerts PLUS portfolio, said he's watching P&G and Mondelez International. Procter & Gamble is expected to post a rise in earnings from a year ago but lower sales, dragged down by global currency volatility. For the fiscal fourth quarter, Wall Street is expecting the company to earn 95 cents a share and revenue of $17.98 billion, according to analysts polled by Thomson Reuters. In the same period of last year, P&G earned 89 cents a share on revenue of $20.16 billion.
Investors will be paying close attention to details of its recent sale of the beauty unit to Coty (COTY) - Get Report as well as any updates to its leadership changes. Earlier this month, the company agreed to sell 43 of its beauty brands to Coty for $12.5 billion. Additionally, P&G recently announced that David Taylor will take over as company CEO starting Nov. 1.
Economic data expected include the GDP report, the weekly jobless claims, the EIA natural gas report, and the Fed balance sheet.