KEY EVENT: Talk is not cheap. The six-day Allen & Co. Conference in Sun Valley, Idaho, begins Tuesday, with more than 200 of the most powerful media and technology leaders expected to attend. Among the invited chief executives are Facebook's Mark Zuckerberg, 21st Century Fox's Rupert Murdoch, Time Warner's Jeff Bewkes, CBS' Leslie Moonves and Yahoo's Marissa Mayer. The conference often leads to major buyouts and mergers as the high-powered executives chat in the casual resort setting.

MONDAY: Earnings from food-ingredients maker Penford.

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TUESDAY: The National Federation of Independent Business releases its small business optimism index for June. May's index was the highest since September 2007. The Federal Reserve releases consumer credit for April. The March report showed consumers borrowing at the highest rate in more than a year. Earnings: Alcoa.

WEDNESDAY: The Federal Reserve releases the meeting minutes from its June conference. Earnings: Melville industrial supplies distributor MSC Industrial Direct.

THURSDAY: Claims for jobless benefits for the week ended July 5 from the Labor Department. Also, the Commerce Department releases wholesalers inventories and sales for May. Earnings: Hauppauge consumer electronics seller Voxx International.

FRIDAY: Earnings: industrial supplies retailer Fastenal, Wells Fargo.