• Bank of America and Goldman Sachs report earnings.
• President Joe Biden will travel to Israel.
• Microsoft's LinkedIn cuts nearly 700 jobs.

Here are the most important news items that investors need to start their trading day:

1. Moving on up

Stocks got off on the right foot this week, with each of the three main U.S. indices closing in positive territory Monday. Early earnings returns are solid so far, and more big ones are due this week. Goldman Sachs, Bank of America, Johnson & Johnson and United Airlines are all reporting Tuesday, for that matter. There's plenty of economic data on the schedule for Tuesday, as well. Industrial production figures and retail sales for September are expected before the bell. Follow live market updates.

2. More big banks report

Bank of America and Goldman Sachs continue the big bank momentum from late last week, when JPMorgan, Wells Fargo and Citigroup all reported. BofA went first Tuesday. The second-biggest U.S. bank by assets posted better-than-expected profit and revenue as its net interest income for the third quarter surpassed estimates. Goldman Sachs, for its part, reported better-than-expected bond trading results, helping it beat Wall Street's estimates on the top and bottom lines. Morgan Stanley is set to report Wednesday.

3. Biden to Israel

President Joe Biden is planning to visit Israel on Wednesday, as the Israeli military hammers the Gaza Strip from the air and thousands of Palestinians flee. The trip's purpose is to "stand in solidarity in the face of Hamas's brutal terrorist attack," he said. Biden will also travel to Jordan to discuss the humanitarian crisis among Palestinians. It's been more than a week since Hamas terrorists staged shocking raids in Israel, killing more than 1,400 people and taking dozens more hostage. Israeli forces are massed at the Gaza border for a potential ground invasion. Follow live war updates.

4. LinkedIn layoffs

The slowdown in revenue growth at Microsoft-owned LinkedIn is showing up in job cuts. The business-focused social network told staff Monday that it terminated nearly 700 employees, according to CNBC's Jordan Novet. The sales slowdown and job cuts are happening even as membership growth at LinkedIn has sped up in recent years. Overall, Microsoft has been slashing headcount in a bid to put a tighter clamp on costs.

5. iPhone charm offensive

Apple CEO Tim Cook hit the road to make a surprise visit to China as the tech giant contends with a tepid reception for its latest iPhone. Fresh data show that iPhone 15 sales in its first 17 days in China were down 4.5% compared with the iPhone 14. Meanwhile, Chinese tech giant Huawei, which recently launched a new high-end phone, has rebounded to re-take the top spot among smartphone makers in China, according to Jefferies analysts.

– CNBC's Hakyung Kim, Ruxanra Iordache, Natasha Turak, Hugh Son, Jordan Novet and Arjun Kharpal contributed to this report.

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