Come back from the beach Tuesday and bam! There's a virtual wall of economic data ready to hit the market after a three-day weekend.
The four-day post-Memorial Day week could be a big one for markets, which have been monitoring a series of economic reports that have been missing forecasts for weeks now.
Consumer spending, a question mark after first quarter's mixed signals, is scheduled to be reported Tuesday as is the PCE deflator inflation data. There are car sales, running soft lately, and manufacturing Thursday. Then there's Friday's always important employment report.
While the stock market has surged ahead, questions of economic weakness have weighed on the dollar and bond yields. The debate centers around whether the economy will spring back in the second quarter and second half with enough vigor to justify further Federal Reserve interest rate hikes, after an expected move by the Fed in June.