Good Monday morning,

Stocks are up today, led by small-caps $IWM, relieving some of Friday's selling pressure and rewarding earnings beats from $MCD and $SOFI.

Interesting trivia - $IWM is flat for the last five years.

Earnings will be a theme all week with reports coming from  $PFE $AMGN $CAT $AMD $QCOM $PYPL and of course, the big one - $AAPL.

We also have the FOMC Wedensday.  Expectations are for no changes to the Fed Funds rate.

Instead, the focus will be on what Jerome Powell says.  He's been hawkish enough recently that maybe he can back off a bit this time, which would unlock more upside for stocks.  We shall see.

Nonfarm Payrolls data will close us out Friday.

Jobs, rates, and oil have all been major market-moving factors. So these will continue to be important things to watch.

We'll see how they develop into trading opportunities and be back with a plan.

-DP