Earnings Season Heats Up as Big Banks, Conglomerates Report in the Week Ahead

Be careful what you wish for. After years of the market in an uptrend, volatility has returned and traders and investors are questioning if this a more 'normal' market or perhaps something more. Peter Costa, President of Empire Executions, tells TheStreet’s Jill Malandrino, traders welcome volatility because it brings participants in or out of the market, opening up new opportunities. Malandrino points out that the Ebola scare, weakness in commodities, strength in the dollar and global conflicts create the perfect storm for a more volatile environment, but for retail investors, in particular, this type of market lends to some good longer-term, fundamental opportunities and Costa agrees. Looking to the Week Ahead, the economic calendar is full with manufacturing, housing and consumer data in focus. Earnings season kicks into high gear with 53 companies, or 10% of the S&P 500 reporting, including the big banks like Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs. Costa says it is key to pay attention to the financials, particularly guidance and macro outlook for clues to the bigger picture.