Prabhat Awasthi of Nomura says net sales growth is estimated to fall below 5 percent for the first time in four years.
The chances of the fiscal cliff hitting are now higher and uncertainty should stay elevated for the next month, says Barry Knapp of Barclays.
Like the third sequel to a summer horror movie, stocks are set up for another summer selloff amid fears that the US economy will slide back into recession.
Oil prices, which rose to levels just short of 100 dollars a barrel on Friday, are holding firm as protests against Egyptian president Hosni Mubarak's regime enter the seventh day.