The equities markets wobbled a bit on Monday but were able to move higher by the end of the day. The move was driven by hopes the earnings season would continue to be better than expected despite mounting headwinds within the economy. The biggest risk is that inflationary pressures will cut too deeply into the outlook for future earnings but so far consumers are accepting higher prices without pushback.

This week marks the first full week of peak earnings for the Q3 reporting cycle. Even so, there are only 19 S&P 500 companies reporting this week and 4 Dow components as well. The real peak of the season won?t start until next week. Also on tap this week, key reads on the housing market and the Index of Leading Indicators.