Reports: S&P/Case-Shiller index of home prices for November, 8 a.m.; Consumer Confidence Index for January, 9 a.m.

Meetings: Federal Reserve meets to discuss interest rates.

Local earnings: Calamos Asset Mangement Inc., DeVry Inc., First Busey Corp., John B. Sanfillipo & Son Inc., Molex Inc., PrivateBancorp Inc., Tellabs Inc., WMS Industries Inc., W.W. Grainger Inc.

Other major earnings: 3M Co., Coach Inc., Corning Inc., E.I. DuPont de Nemours & Co., EMC Corp., Harley-Davidson Inc., Johnson & Johnson, Kimberly-Clark Corp., Norfolk Southern Corp., United States Steel Corp., Verizon Communications Inc., Yahoo Inc. releases quarterly financial results.