On Wednesday, October 22nd we continue a busy earnings week, with the country's second largest wireless carrier, AT&T Inc. The phone company follows Verizon's disappointing financial results. As for AT&T, Wall Street is expecting a slight drop in profits from last year and a small jump in revenue. Ahead of its report, analysts at Merrill Lynch have voiced caution over the company's "bring your own device" plan that could put pressure on equipment revenue. The firm said however, that it should benefit the company's overall margins. Others to watch after market close include restaurant chain, The Cheesecake Factory and pharmaceutical company, Abbott Laboratories. Some more earnings that investors will be watching before the opening bell are Boeing, GlaxoSmithKline, and Dow Chemical. We also watch for the September consumer price index from the Labor Department.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.