What To Watch on Wall Street for Wednesday, October 8th 2014

On October 8th, we watch three notable earnings starting with warehouse retailer Costco Wholesale Corp. It's set to post its fourth quarter results before the opening bell. The retail giant had a negative surprise in the last quarter, but investors are hoping for a big turnaround. Analysts see Costco's selling strategy of lower cost products in big bulk as a plus along with its upbeat membership renewal rates. Monsanto Co., the agrochemical and agricultural biotech company is also set to report third quarter earnings before the opening bell. And metals technology company, Alcoa Inc. will report its third quarter results after market close. On the economic calendar, Chicago Federal Reserve President Charles Evans will speak. Then, the EIA Petroleum Status Report will be out followed by the Federal Open Market Committee minutes from the meeting in September.