Marketmind: Banks, Biden visit buoy markets

Bruce Cockburn: 50 years of music, spirituality and social justice | SaltWireAnother eye-catching bounceback in U.S. stocks on Monday was just about sustained overnight ahead of another slew of big bank earnings and as President Joe Biden's planned visit to Israel tempered anxiety about a wider escalation of the Gaza war.

That reversed a pre-weekend 'safety bid' that emerged amid fears an Israeli ground invasion into Gaza could draw other regional countries and groups into the war. It appeared to put the situation on hold for a day at least. But after impressive Q3 readouts from JPMorgan, Wells Fargo and Citigroup on Friday, markets are braced on Tuesday for updates from Bank of America, Goldman Sachs and Bank of New York Mellon.

But a welter of economic numbers will barrel into the mix today too - chief among them the September retail sales release, but also industrial output data and an October reading on U.S. housing. Canada's latest consumer price data will be also be closely eyed. Country Garden's entire offshore debt will be deemed to be in default if China's largest private property developer fails to make a $15 million coupon payment on Tuesday, the end of a 30-day grace period.

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