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.
Corporate earnings will serve as a tailwind for the stock market in the week ahead, but gains could be constrained after an 11 percent run in just two weeks.
The busiest day yet for second quarter earnings reports could put some juice back into the stock market Thursday.
Another wave of much better-than-expected corporate results Tuesday shows that Wall Street's analysts have badly miscalculated earnings this quarter.
Goldman Sachs strategist David Kostin, known for his bearishness, joined the bull camp today and says stocks are set up for a sustained second half rally. In a note that's getting a lot of attention today, Kostin and other Goldman strategists upped their S&P 500 target from a relative street low of 940 to 1060, a 13 percent move from current levels. History's on their side.
Earnings from General Electric, Bank of America and Citigroup Friday will determine whether the market keeps the week's winning streak going.
After a strong third quarter, economists are ratcheting up fourth-quarter growth forecasts but to a somewhat slower pace.
Year-end buying could push the Dow to 18,000, a psychological level that could give any Santa rally more steam.
OPEC talked down the oil market, sending crude sharply lower, while warm weather and growing supply hit nat gas prices.
As the Santa rally lifts stocks higher, Wall Street's expectations for 2015 gains have gotten slimmer.
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.