Major U.S. indices are set to retest record valuations this week, as investors closely monitor corporate earnings and retail sales data for signs of continued economic strength.
During Friday's regular session, the S&P 500 gained 0.6%, the Dow Jones Industrial Average added 1% and the Nasdaq Composite lifted 0.3%.
JPMorgan Chase and Wells Fargo both exceeded expectations as earnings season commenced on Friday, lifting 4.4% and 5.6%, respectively.
Robust economic data also fueled positive sentiment after recent job growth, inflation, and the services sector readings have quelled concerns of a sharp economic slowdown.
Ahead in the week, earnings reports from major companies such as American Express, Netflix, United Airlines, Procter & Gamble, and several key banks will provide a broader picture of consumer spending, which constitutes over two-thirds of U.S. economic activity.
Among economic events, retail sales, industrial production and building permit data, will also be closely monitored.
On the bond markets, 10-year rates were at 4.104%, while 2-year rates were at 3.96%.