Peter Schacknow, Senior Producer, CNBC Breaking News Desk
Wall Street is on track to post some impressive October numbers ahead of the month's final trading day, though creeping doubts about the European debt crisis solution could scale back some of those milestones in the day ahead
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At this point, the Dow is poised to post its best monthly point gain on record and its best monthly percentage gain since January 1987.
The S&P 500 is on track for its second best monthly gain ever, trailing only October 1974.
The week ahead promises to be an eventful one, with another flood of corporate earnings, as well as a two-day Fed policy meeting and the October employment report.
For today, the economic calendar is light, featuring the Chicago Purchasing Managers index at 9:45am ET and the Dallas Fed Survey at 10am ET.
Humana (HUM) and Lowes (L) top a relatively light earnings calendar for this morning, while Allstate (ALL) and Anadarko Petroleum (APC) lead the list of after-the-bell reports.
Bank of America (BAC) and Wells Fargo (WFC) are among our stocks to watch today, following the announcement that Wells Fargo is canceling a planned monthly debit card usage fee, while B of A is scaling back similar plans. The fees have been the subject of protest by consumers.
Sony (SNE) is announcing plans to split its struggling TV business into three separate units, focusing on LCD TVs, outsourcing, and next-generation TVs.
The fate of MF Global (MF) could be known today, with reports saying it's near a deal to file for bankruptcy and sell assets to Interactive Brokers Group (IBKR).
Honda (HMC) is also on our watch list, as it reports a sharply lower second quarter profit and withdraws its annual guidance.
Honda cites uncertain currency markets and the impact of the Thai floods, which shut down a chunk of its worldwide production.
The dollar has hit a three-month high versus the Japanese yen this morning, following intervention by the Bank of Japan.
Today's 4 percent+ increase is the biggest one-day move by the dollar against the yen in three years. The rising dollar has also helped to push the price of oil lower this morning.
2.8 million homes in the Northeast remain without power this morning, following the unusual October snowstorm this weekend.
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