One problem with stocks at new highs: Corporate buybacks have been dropping, hitting an eight-month low last week, according to TrimTabs. Maybe that is not so surprising, given the buyback and dividend-raising binge companies went on at the end of 2012 to get ahead of anticipated higher U.S. capital gains and dividend taxes.
Elsewhere, Hong Kong books its worst day in three months, down 2.3 percent. Japan snaps a five-day winning streak, logging worst decline in two weeks, and ending down 1.9 percent.
The next important event is Thursday, when the European Central Bank meets, and some are hoping President Mario Draghi might take some action to (indirectly) weaken the euro; some are calling for rate cuts to make Europe more competitive.