CNBC's Bob Pisani and Art Cashin, of UBS, discuss "good enough" retail sales and whether the Fed may go ahead with a taper. in September. "The Fed is going to taper, Bernanke wants to get the process started before he's gone, and that's going to be a headwind for the stock market," says Cashin.
Asian equity markets ended at session highs on Tuesday with Japan's benchmark index leading gains by 2.6 percent as the yen weakened on news of corporate tax cuts.
The dollar rose on expectations of strong U.S. data that could signal an early scaling back of monetary stimulus.
Stocks kicked off the week on a lackluster note, with the Dow and S&P 500 extending their losses after posting their worst week since June, as investors found little reason to buy.
U.S. Treasurys traded lower on Monday in light summer trading, with no new information to break bond yields out of their recent range.
Gold rose nearly 2 percent on Monday, hitting its highest in nearly three weeks as strong Chinese gold consumption and an inflow to gold-backed exchange-traded funds fuelled hopes of resurgent physical and investment buying.
Brent crude rose on Monday as fresh export disruptions in OPEC nation Libya stoked supply concerns.
With September right around the corner, the countdown to taper has begun. The FMHR traders focus on housing and retailers. CNBC's Steve Liesman joins to discuss what the Fed will be looking at this week, and Barry Knapp of Barclays shares his price target for S&P stocks.
European shares closed mixed on Monday, with financial services stocks posting the biggest declines, amid contrasting data from Japan and China.
Markets may be too sensitive to events in Japan and not focused on the areas that really matter, like the U.S., Europe and China, Cramer said.
Market pros predicting a sharp near-term pullback are pointing to worries from Washington.
China's benchmark index shot up to a seven-week high on Monday, boosting Asian stocks across the board on optimism that the world's second-largest economy may be stabilizing, but Japan bucked the trend after weak growth data.
U.S. Treasury debt prices rose in light volume on Friday, aided by a lack of new supply and by the stock market's struggle to advance from near record-high levels.
Stocks finished the week in negative territory, with major indexes logging their worst week since June, as investors found little reason to buy following the market's recent highs and amid ongoing worries about when the Fed may start to wind down its stimulus program.
The dollar rebounded 0.2 percent from a recent seven-week low against a basket of currencies on Friday as investors bought at cheaper levels, with talk about when the Federal Reserve will begin cutting back its monthly bond buying dominating market chatter.
Oil prices rose on Friday, boosted by supply disruptions in the Middle East and signs of rising Chinese demand.
Gold rose on Friday on an oil rally and falling US equities, with bullion on track to rise for a second consecutive week.
European shares closed higher on Friday, boosted by mining stocks which received a lift from broadly positive Chinese data, as well as a strong performance from European bank stocks.
Art Cashin, UBS, shares why he is expecting a quiet Friday in the markets, although he is keeping an eye on the U.S. dollar and yields.
China's benchmark index outperformed Asia on Friday to end the week in positive territory after a raft of economic data painted an upbeat picture of the world's second largest economy.
European shares were flat on Friday as talks over the "fiscal cliff" stalled.
European shares closed lower on Wednesday for a third consecutive session, with resurging worries about the global economic outlook undermining investor sentiment.
Standard & Poor's decision to cut Spain's credit rating to one notch above junk status is weighing on markets.
Asian shares dipped on Tuesday following losses on Wall Street after U.S. manufacturing activity hit a three-year low in November.
As the Chinese boom slows Hermes, Remy and other posh names are still going full throttle in Asia.
The worst US drought in over 50 years is pushing commodity prices to record highs.