The Week Ahead

Today

* The Commerce Department reports personal income and spending for October.

* Quarterly earnings report expected from Valero Energy Corp.

Tuesday

* The Federal Reserve Board issues a statement on the economy and is expected to raise the benchmark interest rate.

* The Commerce Department reports new construction activity for September.

* Automakers report October vehicle sales.

* The Institute for Supply Management releases its manufacturing and services indexes for October.

Wednesday

* Quarterly earnings report expected from Time Warner Inc.

Thursday

* The Commerce Department reports September factory orders.

* The Labor Department reports worker productivity data for October.

* Major retailers report October sales.

Friday

* The Labor Department reports job creation data for October.