Earnings and M&A

Good morning. The market looks to take a positive tone as earnings season picks up speed. Strong earnings reports from Citigroup, Eli Lilly, Wachovia, and others along with a better than expected retail sales report and some more M&A activity (see SLM & GOOG) are helping.

Following Friday's benign PPI, tomorrow's CPI and housing starts data do take on more importance though Wall Street's primary focus will remain on earnings and M&A this week. Traders will also keep February's market highs front and center on their trading screens. Taking those highs out would change alter the opinion of many who are sidelined. Let's make it a great week!