Stock futures are sitting tight on Monday morning on the heels of the best week this year.
Near 7:30 a.m. ET, the Dow was up 5 points, and the S&P 500 and Nasdaq were off less than one point. The bond market is completely quiet as it marks Columbus Day.
Economic data for today is also blank, but picks up later this week, with inflation, retail sales, and consumer confidence gauges all due. Business Insider’s Sam Ro has your complete preview of everything you should be paying attention to in markets and the economy this week.
We’re in earnings season, but it’s also quiet on that front today. Johnson & Johnson, JPMorgan, Intel, and others will kick things up a notch on Tuesday.
In merger news this morning, Dell announced its $US67 billion acquisition of IT giant EMC, in what’s being described as the biggest tech deal ever.
We got some Fed speak over the weekend, with vice chairman Stanley Fischer commenting at the IMF meeting in Peru. It’s not much we haven’t heard before; the Fed expects to raise rates this year depending on how the economy performs, the recent jobs report was dispiriting, and the Fed is paying close attention to the global economy, especially to China.
The S&P 500 gained 3.26% last week, its best performance of the year. Crude oil also performed well as West Texas Intermediate crude gained 8.98%, the most in six weeks.
Gold was up about 1%, or about $US11.70 an ounce, near $US1,167.70.