Market Insider

Wicked weather taunts traders betting on regaining highs

Data dump next week: Domm

Whether it really is all about the weather will be the challenge for markets, as another cold air blast descends on North America in the week ahead.

Earnings and comments from retailers such as Home Depot, Macy's and Target, as well as new home sales and pending home sales data, could offer more insight into how freezing temperatures, ice storms and snow have affected consumers and the economy. There are also durable goods and consumer confidence data.

The biggest event will be Thursday's appearance by Fed Chair Janet Yellen before the Senate Banking Committee to provide testimony postponed because of weather. Traders will be watching to see if there is any change in her position that the weak employment data could be a result of weather.