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Holiday shortened trade allowed the major indices to put in their fifth consecutive week of gains, leaving the S&P 500 higher by a full +1.0%.  The question going into Monday, is whether the official withdrawal of stimulus and on-going tepid real estate and employment results are sufficient reason for traders to minimally take pause here ahead of earnings. 

As of early Sunday evening, futures have been able to carry forward moderate momentum following Friday’s net-positive jobs report.  Importantly, the Federal Reserve is holding a special expedited meeting tomorrow to discuss rates.  Was the jobs number and bond market response sufficient to rattle their policy cage?

The lighter economic reporting calendar for Week Fourteen of 2010 is as follows:

I hope you had a terrific long weekend!

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