The markets appear set to add to last weeks remarkable gains. The S&P finished the week nearly 7% higher and positive momentum continues this morning with reports that CIT has struck a deal with its bondholders that may save it from bankruptcy.
This will be another busy week of earnings reports, with about a third of the S&P 500 and about half of the Dow components reporting quarterly numbers.
Today, the Leading Indicators Index is expected to have risen, which would mark the third consecutive increase. On Tuesday, Fed Chairman Ben Bernanke goes before the House Financial Services Committee at 10:00 ET to give his semi-annual monetary policy report. Other potential market moving indicators this week include the existing home sales report and weekly jobless claims on Thursday, and a report on consumer sentiment on Friday.
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