A week that started with great enthusiasm is finishing on a more subdued note. Having touched new all-time highs yesterday, index futures for the Dow and S&P along with the FTSE are down marginally. Continental indices are giving back more of the week's gains with the Dax and CAC down about 0.6% as the terrorist attack in France weighs on sentiment a bit. 
Asia Pacific markets finished the week stronger with the Nikkei up 0.7% and the Hang Seng up 0.5%. Better than expected GDP, retail sales and industrial production helped to maintain support for stocks. Positives from good China data haven't carried through to‎ commodities however, with WTI Crude Oil falling 0.6% and copper holding steady.
There's a lot of news due this morning which could move the markets. UK construction data for the last two months was not as bad as feared or as bad as previously reported, helping Sterling continue its recovery. .

It's a big day for US bank earnings. Building on yesterday's positive surprise from JPMorgan, Citigroup has posted a big positive surprise. ‎US Bancorp and PNC Bank have beaten the street as well this morning while Wells Fargo met expectations.
There's also a lot of US economic data due headlined by retail sales and consumer prices. Fed speakers this week have been suggesting they are in no hurry to raise rates again, but with wage pressures starting to increase, any signs of rising inflation could change that tune. At the moment it looks like the Fed would prefer to hold off on a decision until at least December after the US election. Meanwhile retail sales could indicate the strength of the US consumer economy which could influence earnings expectations.

Corporate News

Citigroup         $1.24 vs street $1.10

Wells Fargo        $1.01 as expected

US Bancorp         $0.83 vs street $0.80

PNC Bank         $1.82 vs street $1.75

Economic News

China Q2 GDP                6.7% vs street 6.6%
China industrial production        6.2% vs street 5.9%
China retail sales            10.6% vs street 9.9%
China M2 money supply            11.8% vs street 11.4%
China new yuan loans            1,380B vs street 1,000B

UK construction output    (1.9%) vs street (3.5%), previous revised up to (0.6%) from (3.7%)

Eurozone trade balance            €24.6B vs street €25.0B
Eurozone consumer prices         0.1% as expected
Eurozone core CPI            0.9% as expected

NZ REINZ house sales            6.0% vs previous 13.6%
Singapore retail sales            1.4% vs street 1.9%
Singapore retail ex auto            (3.3%) vs street (3.4%)

Upcoming significant economic announcements include:

8:00 am EDT        BoE Carney speaks in Canada on climate change
8:30 am EDT        Canada manufacturing sales        street (0.8%)
9:00 am EDT        Canada existing home sales        previous (2.8%) 

8:30 am EDT        US retail sales                street 0.1% vs previous 0.5%
8:30 am EDT        US retail ex auto            street 0.4%
8:30 am EDT        US consumer prices            street 1.1%
8:30 am EDT        US core CPI                street 2.2%
8:30 am EDT        US real average weekly earnings    previous 1.1%
8:30 am EDT        US Empire manufacturing        street 5.00

9:15 am EDT        US industrial production            street 0.3% vs previous (0.4%)
9:15 am EDT        US manufacturing production        street 0.3%
10:00 am EDT        US consumer sentiment            street 93.3
1:00 pm EDT        US Baker Hughes drill rig count        previous 440

1:00 pm EDT        FOMC William speaking
1:15 pm EDT        FOMC Kashkari and Bullard speaking

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