While the tech heavy Nasdaq rebounded slightly Monday, both the DJIA and S&P 500 were off around one-half percent. Large banks led the markets lower, with both Bank of America (BAC) and Citigroup (C) falling 3%. Investors continue to worry that rising interest rates will crimp economic growth. International tensions remained high between the U.S. and Saudi Arabia after reports this weekend that a Washington Post journalist was killed by Saudi representatives in the country’s embassy in Turkey. The chorus calling for President Trump to impose sanctions on Saudi Arabia is growing louder. Chinese stocks rallied Monday, but only after the government promised stimulus to offset falling growth.

Tuesday earnings will include reports from McDonald’s (MCD), Verizon (VZ) and 3M (MMM). McDonald’s earnings will be scrutinized for any wavering in its international business. With international growing 4% last quarter, non-U.S. earnings now represents almost two-thirds of the company’s business. Though the U.S. business is still large, U.S. growth has been lagging international for some time. Verizon, looking to become a large player in 5G, should provide some guidance on how the new technology rollout is progressing. The company recently did a limited rollout of its new 5G service to select residential customers. Other earnings Tuesday include Caterpillar (CAT), Lockheed Martin (LMT) and Texas Instruments (TXN).

The economic calendar on Tuesday includes Redbook retail numbers, and the Richmond Fed Manufacturing Index. Year-over-year retail sales are expected to come in at 5.8%. The retail sales number has been rising steadily since the beginning of the year. Wednesday mortgage applications, new home sales and the FHFA House Price Index will all be released. New home sales are expected to tick up slightly to 625,000 for a second positive gain after improvement in August. Mortgage applications are expected to drop a little over 7% for the week. Flash PMI numbers will also be released on Wednesday.

Microsoft (MSFT) releases earnings after the closing bell on Wednesday. Investors would like to see a continuation of the rapid growth of Azure, the company’s cloud business. Microsoft ranks second, only behind Amazon Web Services (AWS) in the size of its cloud business, and the segment has been absolutely on fire. Last quarter the cloud business grew over 90% year-over-year. AT&T (T) also reports earnings Wednesday. While the company’s stock has staunched some of its losses since late summer, the stock is still down over 15% on the year. Analysts will be looking for some insight into growth plans going into 2019 where the company will hope to make up ground on competitors like Verizon, up almost 4% in 2018. Also reporting Wednesday are Visa (V), Boeing (BA) and United Parcel Service (UPS).