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Traders watch for more signs of economic stall in week ahead

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Markets are 'expensive' here: Koesterich

Cross currents caused by weak economic data and the resulting speculation about delayed Fed rate hikes are buoying the stock market.

But those trends could cause turbulence when central bank minutes and a batch of housing and other data are released in the week ahead.

The run of soft economic data in the first quarter has now clearly spilled into the second quarter, with some disappointing misses in just the past week in retail sales, producer price inflation data, industrial production and consumer sentiment. Those misses helped push market expectations for a first Fed rate hike past December and into January, with fewer market players now betting on a September rate increase.

Stock futures Monday were lower, and Treasury yields were mostly higher. The 10-year was at 2.15 percent. The dollar was slightly higher, as the euro slipped on a lack of progress in negotiations between Greece and its creditors, a potential headwind for markets this week.