JC Penney reports quarterly results, with investors primed for the department store operator to beat estimates as its rivals Macy’s and Kohl’s did earlier in the week.

Other highlights:

*  Barack Obama makes his first trip to Asia as president, leaving behind a host of domestic problems on a visit that recognizes the region’s economic and diplomatic importance to the United States.

*  Google and a group representing authors and publishers face a Friday Department of Justice-set deadline to submit a revised agreement over modifications to a controversial electronic books licensing deal.

*  Initial public offerings from Dollar General, a leading discount chain owned by KKR, and rue21, a fast growth youth apparel chain owned by Apax Partners, begin trading on the NYSE.

*  On the economic front, expect international trade data and a preliminary reading on the November Reuters/University of Michigan sentiment index.