Wall Street’s Week Ahead: Greece, Italy, and Cisco Earnings

News from Europe will continue to dominant this week. After last week’s Greek tragedy with its proposed referendum, possible resignation of Greek Prime Minister George Papandreou and the country’s new coalition government, Greece will remain in the news cycle, especially on today after the weekend’s developments.

Breaking: Greek Leaders Reach Deal to Create Unity Government.

Other euro-zone countries in the spotlight this week could include Italy (NYSE:EWI), who is facing debt problems near Greece’s level. There may be a vote of confidence this week for Italy’s prime minister, Silvio Berlusconi, after he said that the International Monetary Fund plans to review how well Italy has done with its belt tightening.

This week will bring a slew of Federal Reserve and euro-zone speeches and more earnings reports. Economic reports will include monthly reports for consumer credit, wholesale inventories, export and import prices, the trade balance, and consumer sentiment.

Weekly data on jobless claims will come on Thursday.

Monday: Euro-zone finance ministers meet,  Boston Fed President Eric Rosengren speech and October consumer credit.

Tuesday: Day two of the EU finance ministers meeting and Minneapolis Fed President Narayana Kocherlakota speech.

Wednesday: Fed Chairman Ben Bernanke  and Fed Governor Daniel Tarullo speeches, Bank of England monetary policy meeting and China’s monthly economic figures: Consumer and producer inflation, industrial output and retails sales.

Thursday: Chicago Fed President Charles Evans speech, Weekly jobless claims, September international trade data, October import and export prices, Atlanta Fed President Dennis Lockhart speech and Fed Reserve Chairman Ben Bernanke speech.

Friday: University of Michigan consumer sentiment index, Fed Vice Chairman Janet Yellen speech and San Francisco Fed President John Williams speech.

After last week’s deluge of earnings reports, this upcoming week is light.

Earnings

Monday: SYSCO (NYSE:SYY), CareFusion (NYSE:CFN) and Priceline.com (NASDAQ:PCLN).

Tuesday: International Flavors & Fragrances (NYSE:IFF), International Game Technology (NYSE:IGT) and Rockwell Automation (NYSE:ROK).

Wednesday: Macy’s (NYSE:M), Dean Foods (NYSE:DF), Cisco Systems (NASDAQ:CSCO), Ralph Lauren (NYSE:RL) and Computer Sciences (NYSE:CSC).

Thursday: Nordstrom (NYSE:JWN), Kohl’s (NYSE:KSS), Viacom (NYSE:VIA), Walt Disney (NYSE:DIS) and NVIDIA (NASDAQ:NVDA).

Friday: W.W. Grainger (NYSE:GWW) and D.R. Horton (NYSE:DHI).

Super Hot Feature: Here’s Why Groupon’s Business Model Looks Eerily Like a Ponzi Scheme.