It's a busy week of politics in the final week of September.
First, congressional Republicans will continue to give healthcare the old college try ... for the third time this year. This appears to be the final shot Republicans have of repealing Obamacare and Senate Majority Leader Mitch McConnell is pushing for a vote this week before the Sept. 30 deadline when their ability to do so along a party-line vote expires.
Already, the odds are looking impossible. They grew even more so Friday afternoon when Sen. John McCain of Arizona announced his opposition to the bill, joining at least two other Senate Republicans -- Sen. Rand Paul of Kentucky and Sen. Susan Collins of Maine. The bill's architects, Sen. Bill Cassidy of Louisiana and Sen. Lindsey Graham of South Carolina, will reportedly target changes toward Sen. Lisa Murkowski of Alaska. Murkowski's spokeswoman told Politico on Friday that she was still considering how the bill would impact her state.
The Graham-Cassidy bill, released earlier in September, repeals the individual and employer mandates and turns federal funding into block grants for states. The bill would also taper Medicaid expansion.
To pass, the bill would need to get to 50 votes. Republicans hold 52 seats in the Senate.
The Congressional Budget Office's score on the bill is likely to be only partial with just the cost, not number of people losing coverage, made available. That means senators who vote for the bill will be doing so blindly.
On the economic calendar this week, the S&P Corelogic Case-Shiller Home Price Index for July, new home sales for August, and consumer confidence for September are scheduled for Tuesday; durable goods orders and the pending home sales index for August on Wednesday, Sept. 27; the final reading on second-quarter GDP and international trade in goods for August on Thursday, Sept. 28; and personal income and outlays for August, Chicago PMI for September, and the final reading for consumer sentiment for September on Friday, Sept. 29.
Earnings in the coming week include Ascena Retail Group Inc. (ASNA - Get Report) and Red Hat Inc. (RHT - Get Report) on Monday; Darden Restaurants Inc. (DRI - Get Report) , FactSet Research Systems Inc. (FDS - Get Report) , Micron Technology Inc. (MU - Get Report) and Nike Inc. (NKE - Get Report) on Tuesday; Jabil Inc. (JBL - Get Report) , Pier 1 Imports Inc. (PIR - Get Report) , Progress Software Corp. (PRGS - Get Report) and Worthington Industries Inc. (WOR - Get Report) on Wednesday; and Accenture PLC (ACN - Get Report) , BlackBerry Ltd. (BBRY) , ConAgra Brands Inc. (CAG - Get Report) , KB Home (KBH - Get Report) , McCormick & Co. (MKC - Get Report) , Rite Aid Corp. (RAD - Get Report) and Vail Resorts Inc. on Thursday, Sept. 28.