All eyes on crucial US earnings data

NEW YORK - After getting worrisome signs about consumers from bankers' earnings reports, investors will be looking at a broad range of companies this week for insights into the outlook for the economy.

Consumer-focused companies including Apple, McDonald's, appliance maker Whirlpool and toy maker Hasbro are among those reporting results. Airlines, drug companies and more big banks are also scheduled to release their earnings.

The market is so focused on companies' third-quarter results and outlooks for the coming months that data like the September existing home sales report expected this week isn't likely to move the market much.

"Right now earnings are critical," said Channing Smith, a vice-president at Capital Advisors in Tulsa, Oklahoma. "Earnings, revenues give us a better picture of what's happening. If the economic data turns out well, it's just the cherry on the sundae."

Investors got a surge of optimism from results in the early part of last week and buyers sent the Dow Jones industrials over 10,000 for the first time in a year.

- AP