Greek Drama

The dollar index finished the week at 80.45, up 0.1 percent for the week, and up 3.3 percent year-to-date.

Brown Brothers Harriman chief currency strategist Marc Chandler said now that Greece successfully floated bonds in the past week, the euro could be under less pressure short term and the dollar may see some selling. "I'm thinking we're due for a correction. I think the euro is ready to sustain an up tick," he said. Chandler said towards the end of the coming week, worries about Greece could resurface as investors await the country's March 16 report on its fiscal situation.

"I'd say the big thing next week is Chinese data. It's the whole series—trade, new loans, CPI. I think toward the end of the week what we're going to be watching is whether the Greek bond offering went well enough that they can do another one," he said.

Energy and metals prices ended the week higher, with some help form China. Premier Wen Jiabao said his country is on track for 8 percent growth this year, encouraging traders that China will not pull back too quickly on stimulus. Oil finished the week up 2.3 percent at $81.50 per barrel, while copper finished 4 percent higher at $3.4175 a pound.

Econorama

Besides Friday's retail sales report, data this week includes the NFIB small business survey Tuesday. Wholesale trade for January is Wednesday, and international trade is reported Thursday. Weekly jobless claims are reported Thursday. Consumer sentiment and business inventories are reported Friday.

Fed speakers include Brian Sack, an executive vice president of the New York Fed. He speaks at the National Association of Business Economists meeting Monday in Arlington, Va. Chicago Fed President Charles Evans speaks at the NABE meeting Tuesdays. New York Fed President William Dudley speaks to economists in London Thursday.

Cambridge Energy Research holds its annual international energy conference in Houston this week.

Earnings Next Week

Retailers continue to report earnings in the week ahead. J. Crew, Dick's Sporting Goods and Kroger

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[KR  Loading...      ()   ] report Tuesday. American Eagle Outfitters

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[AEO  Loading...      ()   ], Gymboree, Mens Wearhouse and Jo Ann Stores report Wednesday. Pacific Sunwear, Quicksilver, and Rite Aid

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[RAD  Loading...      ()   ] report Thursday, and Ann Taylor reports Friday.

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