As earnings season starts to wind down, the health of the economy will be on everyone’s radar.

This past week investors were greeted with a better than expected GDP number. It was the first time in four quarters we've seen positive GDP. Although the majority of the number came from government stimulus programs, it was still good enough that economists started calling the recession over.

Next week, investors will be focused on an FOMC meeting and the jobs numbers. Analysts are expecting the unemployment rate to climb to 9.9%, inching ever so close to the 10% level. With unemployment so high, how can we call the recession over? See also We've Seen the Future, And It's Unemployed.

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Monday, November 2

Economics

10:00 Construction Spending -0.4% cons.
10:00 ISM Index 53.0 cons.
10:00 Pending Homes Sales 0.4% cons.

Earnings

Before: CSE, CLX, CTB, DF, F, HUM, L, PRGO, SYY,

After: APC, CAR, BRE, CHK, CRK, DIOD, DLLR, FST, HLF, KGC, LF, MNKD, SVR, TXRH, UDRL, VMC

Speeches

10:30 Daniel Tarullo

Tuesday, November 3

Economics

10:00 Factory Orders 1.0% cons.

Earnings

Before: ANR, AMT, ABC, ADM, BJS, CAM, CHD, XEC, CFX, EMS, EMR, ENR, EXPD, GWR, IPGP, ICE, JRCC, LPX, MRO, MLM, MVl, MA, OSK, PKD, PER, RL, ROK, RCL, JOE, VIA.B, VNO

After: ACAS, AUDC, BGFV, BBBB, SAM, CRL, COGT, CCI, DRIV, DISCA, DUF, DXPE, ESS, EXM, HIG, KCP, KFT, MRH, MYGN, ONXX, PACR, PZZA, PXD, BID, TWTC, THS, TRLG, VVUS, WDMD, INT, AUY

Wednesday, November 4

Economics

07:30 Challenger Job Cuts
08:15 ADP Employment Report -190k cons.
10:00 ISM Services 51.7 cons.
10:30 Crude Inventories
02:15 FOMC Rate Decision

Earnings

Before: AGU, AFAM, WTF, BDX, CEDC, CKP, CMCSA, DVN, DNDN, EBIX, EPB, FWLT, GRMN, MMC, LOGN, TAP, PHM, TWX, RIG, TEL, WPI, XTO

After: NDN, ALL, ALJ, ARII, ANDE, CELL, CECO, CSCO, TRAK, EGLE, ESLR, FRT, GG, GDP, LLNW, MELI, MCHP, MUR, N, NWSA, ONNN, PRU, QCOM, RUBO, THQI, UNTD, WFMI

Events

07:00 BOE Announcement
07:45 ECB Announcement

Thursday, November 5

Economics

08:30 Productivity 5.8% cons.
08:30 Initial Claims
08:30 Continuing Claims

Earnings

Before: ARE, BVF, BX, CVC, CNQ, CAH, CI, CNSL, CVS, DTV, DPS, DYN, FSYS, FTEK, GLS, GLG,HGG, HOC, HURN, IMAX, INCY, KSWS, LINC, PCS, MGM, NDAQ, OMG, OCR, HK, PLA, SIRI, SMBL, TRI, TWC, TWGP, USM, WEN, WWE

After: ATVI, ALNY, APEI, BEBE, NILE, CPKI, CBS, CROX, ELON, EBS, XIDE, EOG, HANS, IGT, IPI, JAZZ, NVDA, OWW, PSA RRGP, SWKS, SBUX, KNOT, VRSN

Friday, November 6

Economics

08:30 Nonfarm Payrolls -166k cons.
08:30 Unemployment Rate 9.9% cons.
08:30 Average Workweek 33.1 cons.
08:30 Hourly Earnings 0.1% cons.
10:00 Wholesale Inventories -1.0% cons.
02:00 Consumer Credit -10.0B

Earnings

Before : AER, XTEX, FIG, EIX, OSMT, TNP, SU

After:

Speeches

08:00 Tim Geithner
03:00 Elizabeth Duke