The markets are waiting for signs later this week from the Federal Reserve on when it will raise interest rates, but in the meantime, the S&P 500, Dow Industrials, S&P Midcap, Russell 2000 and Wilshire 5000 hit all-time highs on Friday.
83 stocks in the S&P 500 hit 52-week highs on Friday, according to Credit Suisse.
The only thing missing is the Dow Transports, which has not yet confirmed the new highs the Dow Industrials hit.
While everyone is hopeful Janet Yellen will provide some guidance for the pace of rate hikes during her Congressional testimony this week, the stock market isn't acting like it's nervous. The CBOE Volatility Index closed Friday its lowest level of the year. Volatility in Treasury yields has been more volatile, however.
U.S. crude oil is below $50, with energy stocks down again. I'm sure the U.S. refinery strike is not helping.