Wall Street was eyeing another week of gains, with a sigh of relief going through world markets as commodities showed signs of stabilizing -- although such signs haven't exactly proved reliable with the recent volatility there. But things aren't always what you would expect in that area. For an interesting analysis on why consumer discretionary stocks and energy have had a linear relationship vs. a more intuitive, inverse correlation (you would expect that as energy prices rise, consumers would spend less on, say, clothes), check out "Use Discretion on Gasoline Prices."
Investors will be getting a dose of inflation data, with the consumer price index, the most widely cited gauge of inflation, expected at around 8:30 a.m. ET. The data are expected to show an 0.3 percent rise in CPI in April, or an 0.1 percent increase to the core rate (if you factor out food and energy —- and don't most consumers wish they could do that). Consumer sentiment is also due out, shortly before 10:00 a.m.Read More »from Friday’s Stocks to Watch and Trading Headlines