ASX futures suggest the local market could be in store for a positive open, albeit a slight dip in US futures this morning has quelled some of the momentum. Friday night US trading session saw the Dow Jones and S&P 500 reverse pre-market losses and close fractionally higher.

Earnings season is about to hit full steam as a large number of blue chip stocks begin to publish their FY20 results this week, while the latest jobs data is also likely to draw attention in the week ahead.

Economic calendar and news

Based on economists' forecasts, consumer confidence data set to be released by Westpac on Wednesday morning is anticipated to edge lower. The introduction of stage four lockdown in Melbourne is likely to weigh on the reading, whereas finances compared with a year ago' showed growth in other regions in last month report.More importantly, however, is unemployment data scheduled for Thursday morning. Consensus estimates suggest the participation rate may have increased, while job numbers are forecast to grow albeit at a slower rate than in June. The impact of workers returning to the job market, as well as the economic weakness in Victoria, have led various observers to tip an increase in the unemployment rate.Overseas, both the US and China will publish key economic figures on industrial production, retail sales and inflation. With concerns around the inflation outlook in the US, gold prices may see heightened trading in the wake of the data, however, last Friday better-than-expected US employment numbers gave some strength to the US dollar and kept gold on the back foot.

After US politicians failed to strike an agreement on the next round of US stimulus measures, President Trump took executive action over the weekend to extend unemployment benefits, suspend some payroll taxes, defer student loan payments and temporarily freeze evictions. It has been suggested that the action could face legal challenges, so the market may be looking to see whether the move brings politicians back to the negotiating table to reach a formal deal.

ASX reporting spotlight and major movers

Investors will be treated to a host of earnings reports this week, with some of the key names shown below.

The focus of this week reporting companies will be Commonwealth Bank (ASX: CBA), with the nation largest bank set to unveil the extent of the impact from the current economic crisis. Shareholders will be paying close attention to the size of any dividend, particularly now that APRA has softened the dividend guidance it provided earlier this year.NAB (ASX: NAB) quarterly update will be scrutinised for guidance commentary around the bank exposure to the stage four lockdown in Melbourne, as well as the prospect of any further provisions being raised.Telstra (ASX: TLS) will also be under the microscope given its post-EOFY rally. The company dividend policy is likely to be at the centre of attention given ASX investors have been starved of dividends for much of this year.Two companies that often go under the radar in terms of their respective size are Transurban (ASX: TCL) and Goodman Group (ASX: GMG). With their sizeable market valuations, both companies have been rising up the list of the largest ASX companies, and their results this week will have a say on the broader direction of the market.In the commodities space, bellwether stocks such as Woodside Petroleum (ASX: WPL) and Newcrest Mining (ASX: NCM) are expected to highlight the contrast in their respective markets. The oil industry has largely faced a torrid time in 2020, with prices only really stabilising in recent times, whereas gold has recently soared to all-time highs.