Investors are gearing up for a week full of economic and corporate data. Europe will once again be difficult for even U.S. investors to ignore.

Several hundred U.S. companies are scheduled to report corporate earnings, but Apple's results will take center stage Tuesday, when the company reports its results.

Following a week where the high-flying stock fell by more than 11%, market participants will be watching whether the iPhone maker can continue to post results that will feed investors' ravenous appetite for the stock or whether any signs of a slowdown in Apple's growth could weigh on the overall market.

Investors will also be listening to every word uttered by Federal Reserve chairman Ben Bernanke during his press conference Wednesday afternoon following a two-day meeting by the Federal Open Market Committee.

The central bank isn't expected to announce any rate changes but the market could rally if Bernanke even hints at any actions that might ease monetary policy.

And on Friday the initial estimates of the gross domestic product of the United States will be released. If the figure falls below the expected 2.6% growth, chatter about another round of Fed easing could grow louder.

Meanwhile, investors will continue to monitor the status of Spain's and Italy's borrowing costs, which have been skyrocketing in recent weeks.

"Two months ago we were basically on cruise control going up, up, and away," said Dan Greenhaus, chief equity strategist at BTIG. "Now a lot more people are carefully assessing the macroeconomic risks." Spain's economy is among one of the gravest concerns right now, he added.

The IMF took a big step forward toward building a global financial firewall over the weekend after a number of its members pledged a combined $430 billion in additional resources at the fund's spring meeting last week in Washington, D.C.

That nearly doubles the amount the IMF has available to lend to countries in crisis.