Reports: December durable orders, S&P Case Shiller home price index, January consumer confidence

Local earnings: Arthur J. Gallagher, Calamos Asset Management, Equity Lifestyle Properties, First Busey Corp., Hub Group, Illinois Tool Works, Jones Lang LaSalle

Other major earnings: AK Steel, CIT Group, Comcast Corp., Corning Inc., Ford Motor Co., Pfizer Inc. and others

Of note: Second day of Federal Reserve Open Market Committee meeting, President Obama's state of the union address to Congress