Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
Markets will hang on every word from Fed Chairman Ben Bernanke on Wednesday and Thursday, although investors are unlikely to hear anything new.
Earnings strength and an improving economy could propel stocks 10 to 15 percent in another burst higher, yet that gain is unlikely to be sustained through the balance of the year, according to Citigroup chief equities strategist Tobias Levkovich.
The Federal Reserve move to hike the discount rate was not a surprise in itself, but timing was sooner than many investors expected and the after-hours move gave Wall Street a shudder.
Investors are likely to stay uncertain in the coming week, with investors focused on Europe's sovereign credit woes in the short term, and a world with less government-induced stimulus in the long term.
Worries about Greece, its problems far from solved, have temporarily been put to the side, as traders shift focus to the more mundane January retail sales report Friday.
At the very least, markets are betting on progress Thursday in the European Union's efforts to help Greece through its fiscal crisis.
Markets will stay fixated Wednesday on Europe's efforts to solve the credit problems of its weakest members.
Stocks stumbled in Monday's final hour, signaling traders that the market's sell off could still have some ways to go.
A truckload of data will hit markets, but it's the jobs report Friday when Wall Street is closed that will be the most important.
Next week's March employment data could be crucial to setting the course of the dollar for months to come.
Names on the move ahead of the open.
Fed Chair Janet Yellen speaks just before the close Friday, and you can bet Wall Street will delay the start of its weekend to listen.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC's Senior Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.