Stocks clawed higher Monday as an upgrade on credit-card stocks and news from Boeing helped offset worries about a rate increase.
This came after a mixed session Friday: Stocks had soared in the morning after the jobs report, which showed just 11,000 jobs were lost from nonfarm payrolls last month, but then pulled back in the afternoon as concerns about interest rates crept into the market, pushing the dollar higher and stocks lower.
Today, the dollar hit a five-week high against the euro. Oil fell below $75 a barreland gold dropped below $1,150 an ounce, after setting a record above $1,200 last week.
Federal Reserve Chairman Ben Bernanke will again command investor attention today, following his lengthy appearance at his confirmation hearing on Capitol Hill last week. He'll speak to the Economic Club of Washington at noon New York time. New York Fed President William Dudley also has a public appearance his schedule today, though that doesn't come until after the markets close. He'll speak to a Columbia University audience at 5:45 pm.
Only one economic number is on the schedule for today and that doesn't come until 3 pm, when the government issues consumer credit figures for October. Economists think outstanding credit shrank by $10 billion during the month, compared with a drop of $14.8 billion in September.