Salient to Investors:

73 percent of the 237 S&P 500 index members so far reporting have beaten earnings estimates, 56 percent missed on revenue estimates.

24 of 40 economists expect the ECB to cut its benchmark interest rate by 0.25 percent to 0.5 percent next week.

Greg Woodard at Manning & Napier said the market is looking at continued easing by the Fed and for signals of when the Fed reverses, which is some time away.

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