After all, the economy is clearly slowing down, at home and abroad. That's not going to help corporate profits, which aren't exactly glowing these days anyway.
Sure, 76% of S&P 500 companies that have reported results so far this quarter have beaten targets, according to FactSet.
However, profits are still on track for their first back-to-back declines since 2009. And a long list of consumer companies have alarmed investors with sluggish results. That includes CVS (CVS), Buffalo Wild Wings (BWLD), Dunkin' Brands (DNKN) and GoPro (GPRO, Tech30).
Wall Street will get to check the pulse on consumer spending this week when big names like Visa (V), Ralph Lauren (RL) and Whole Foods (WFM) hit the earnings stage. It could also be interesting to hear how media companies are dealing with cord-cutting consumers. Time Warner (TWX), the parent of CNNMoney, is set to report results next week along with Walt Disney (DIS)and 21st Century Fox (FOXA).
The stock market is sure to be swayed by the month's most important economic metric: Friday's monthly jobs report. Economists are betting job growth bounced back in October from the previous month's weak performance.