It has been a soft start for the market, and given the gains from last week, this is not surprising.

Seven sectors are in red led by Real Estate and Financials. Health Care and Consumer Staples top the gainers.

The economic calendar this week is light, the spotlight will be on third quarter earnings and a parade of Fed speakers. This morning, in a speech at Duke University, Fed Governor Lisa Cook emphasized the resilience of the U.S. financial system. She highlighted the modest household debt levels owned primarily by strong credit consumers.

Fed Speakers This Week:

*FOMC MEMBER WALLER (TUES. 10:00AM)

*FOMC MEMBER LOGAN (TUES. 1:25PM)

*FED CHAIR POWELL (WED. 9:15AM)

*FED VICE CHAIR JEFFERSON (WED. 4:45PM)

*FED CHAIR POWELL (THURS. 2:00PM)

Breadth shows there is not a lot of conviction on either side of the tape.