What to Expect in the Week Ahead (TSLA, GS, JNJ Earnings; Leading Economic Indicators)

Third-quarter earnings season is here. More than 50 S&P 500 firms are set to report this week. Economic-data releases will include retail sales data and the Federal Reserve's latest beige book.

Releases on the economic-data calendar include the Census Bureau' retail sales for September on Tuesday followed on Thursday by the Conference Board' Leading Economic Index, which has posted 17-straight months of declines.

There will also be plenty of data on the U.S. housing market: The National Association of Home Builders will release its Housing Market Index for October on Tuesday, the Census Bureau reports September housing starts on Wednesday, and the National Association of Realtors adds existing-home sales for September on Thursday.

Finally, the Fed will release its seventh beige book of the year on Wednesday, describing current economic conditions across the U.S.

The Census Bureau reports retail sales data for September. The consensus estimate is for retail sales to increase 0.2 month over month. In August retail sales rose 0.6% as did sales excluding autos.

The National Association of Home Builders releases its Housing Market Index for October. Economists forecast a 44 reading.

The Census Bureau reports new residential construction statistics for September. Expectations are for a seasonally adjusted annual rate of 1.37 million privately-owned housing starts.

The Federal Reserve releases the beige book for the seventh of eight times this year. The report gathers anecdotal information on current economic conditions from the 12 regional Federal Reserve banks.

The Conference Board releases its Leading Economic Index for September. The consensus call is for a 0.4% month over month decline, matching the August drop. The LEI has fallen for 17 consecutive months, "indicating the economy is heading into a challenging growth period and possible recession over the next year," according to Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.

The National Association of Realtors reports existing-home sales for September. Economists forecast a seasonally adjusted annual rate of 3.9 million homes sold, 3.5% less than in August.