The market was so quiet last week that it was easy to sleep through the fact that the Dow Jones Industrial Average ($INDU) tiptoed past 11,400 -- a level last seen in September 2008.

Indeed, the blue-chip index is up a respectable 9.4% for the year to date. The broader S&P 500 ($INX) has gained 11%. And the tech-heavy Nasdaq Composite ($COMPX) is up more than 16% so far in 2010.

Whether stocks can add to those impressive results this week all comes down to a heavy docket of economic news, says Kenny Polcari, managing director at interdealer broker ICAP Corporates.

"It's a big, big week ahead of us," Polcari says. "All eyes will be on the macro news because a lot of the macro news that's been coming out globally, not just in the U.S, is pointing to better days ahead."

Resting stock traderPotentially market-moving economic releases on tap this week include consumer prices, producer prices, housing starts, November retails sales, leading indicators, a couple of regional manufacturing surveys and the last meeting of 2010 for the Federal Reserve's rate-setting committee. And don't forget the high-stakes political wrangling in Washington over the Obama-GOP tax cut deal as it heads for a vote in Congress.

But Polcari won't fret if the market snoozes through -- or even pulls back -- on the macro headlines pouring out this week. Rather, he'd actually welcome it.

"I would like to see the market take a breather because we are at the high end of this range, and I think it's been a little artificially inflated [by QE2]," Polcari says. Once the spike in bond yields settles down, he adds, the market will have a better base for further gains, anyway.

For more on Polcari's view from the floor of the New York Stock Exchange (NYX), see the video above.

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forexprosnews

I think it's a question of just watching the market judiciously without letting one's feelings get all tangled up. I go here for my updates: http://www.forexpros.com/markets/

May 01 2011 at 9:15 AM Report abuse rate up rate down Reply
LEANDERPPF

While Dan Burrows was sleeping on Nov 4th & 5th, 2010 the Dow closed at 11434 & 11444.

December 14 2010 at 4:14 PM Report abuse rate up rate down Reply
betearnhardt

It doesn't matter to me which way the stock market goes. As I look at my investments in the past and how many times they have correcte, another word for robbing, I haven't made anything. Lost in Wachovia, IRA, Annuity, and 401K.

December 13 2010 at 8:50 PM Report abuse rate up rate down Reply
jacksmack45

instructing you to nark on people at wal mart

December 13 2010 at 3:07 PM Report abuse rate up rate down Reply
strother215j

ONLY INVESTORS KNOW THE ANSWER TO SHOULD THE STOCK MARKET TAKING A BREATHER. SURELY THE LEADERS OF OUR GOVERNMENT HAVE NOT PROVED THEY SHOULD GO FULL STEAM AHEAD. lOOKING AT ALL THE THINGS THAT HAVE HAPPEN WITH ALL THE BAIL OUTS. INVESTORS ARE WATCHING VERY CLOSE BEFORE PLACING THEIR MONEY IN THE MARKET.

December 13 2010 at 1:10 PM Report abuse rate up rate down Reply
1 reply to strother215j's comment
jacksmack45

instructing you to nark on people at wal mart

December 13 2010 at 3:07 PM Report abuse rate up rate down Reply
BHarrison2

If I have a little over a million in liqid accoutns, while I am getting an extremely samll =, almost negligable interests RoI, why should or would I invest in a market that is so manipulated by the Wall Street "insiders", hedge funds, etc.? With a samll RoI on "cash" held in liquid accounts, at least I have the cash versus running the risks of losing subsanial amounts of money in what I consider to be a rather crooked and manipulated market. Under thsse rather uncertain and unstable times, "a bird in the hand is worth a flock of birds in the bushes that one can never seem to catch". While it will NEVER be totally "honest", the federal goernment must instill a lot more INTGRITY and STABILITYin the market BEFORE I am going to risk my cash in the market. There are frequent stories everywhere abbout how retirees have lost most, if not all of their savings by investing in the markets. The markets are simply just too corruptly maniulated; and there are too many unforeseeable isasters in our corporations and the market . . . better safe than sorry. Personally, I'll take the inflationarey losses versus being robbed in the market manipulations. There should NOT be a time dealy advantage where the "insiders" get the real time information for their computer controlled "buy-sell" operations to manipulate the markets 15 t to 30 minutes before the public gets the information . . . that smacks of total corruption in manipulating the market prices (either up or down). Wall Street hs become too much like Las Vegas gambling; and toomany of the stocksvalues are based on manipulated prices with no relationsip to the actual value of the corporations. I've gone to a cash position until things improve substantially.

December 13 2010 at 12:58 PM Report abuse rate up rate down Reply
1 reply to BHarrison2's comment
betearnhardt

Good read. BHarrison has just told my story. Money Market account with a little interest is my route. Certificate of Deposit when the interest rate rises a little. And it will

December 13 2010 at 8:56 PM Report abuse rate up rate down Reply
BHarrison2

Clarification: There is certainly nothing "wrong:" with people wanting to become wealthy, that is in large part what our system of capitalsim is all about. HOWEVER, there is something WRONG about people who use BLATANT FRAUD to get their wealth, which is the way that MANY, MANY CEOs, and upper managment personnel, and Wall Streeters have gained their wealth. We now a situation where LESS than 20% of our population owns MORE than 85% of our national wealth; and far too much of that wealth has been gotten via the fraudulent Ponzi type or blatantly fraudulent schemes by our financial institutions and Wall Streeters . . . and now most of the American people are suffering from these CRIMES by the wealthy. Becoming wealthy through legitimate means and standards is totally fine . . . it's the fraud that has undermined our economy and out society. The government can't take away their current wealth; but it CAN tax the future profits from those wealths, which is what should be done to try to "rebalance the distribution of income and wealth to strengthen our economy and society.

December 13 2010 at 12:39 PM Report abuse +2 rate up rate down Reply
1 reply to BHarrison2's comment
jacksmack45

instructing you to nark on people at wal mart

December 13 2010 at 3:07 PM Report abuse rate up rate down Reply
crimson00king

Did you see the Tan Man Senator Boehnor crying like a baby for the rich getting their tax breaks. This guy can cry on cue for the rich. I wonder if it is really the feeling of guilt for the screwing he is giving the middle class and poor and their children.

December 13 2010 at 12:25 PM Report abuse +2 rate up rate down Reply
2 replies to crimson00king's comment
jacksmack45

instructing you to nark on people at wal mart

December 13 2010 at 3:07 PM Report abuse rate up rate down Reply
betearnhardt

Boehnor use to make me sick. Now I just turn off the television. He sounds a great deal like Bob Dole and Newt Gengrich. If they are truly as negative as they sound, how can they look in the mirror.

December 13 2010 at 9:07 PM Report abuse rate up rate down Reply
hemipwr54

And once again , YOU TAKE FROM US AT THE PUMP , WE DON'T SPEND AT THE STORES ! Very simple isn't it , decide which you want because it will be one or the other .

December 13 2010 at 12:19 PM Report abuse +3 rate up rate down Reply
geopapas

before you believe anything posted by anyone about the stock market first read "The Myth of the Rational Market" by Justin Fox. This book will help you develope a clear perspective on how irrational the market is and how much even the experts really don't know about how it actually functions. This author clearly delineates how all the experts use their theories to make money for themselves and their insider friends at the expense of everyone else.

December 13 2010 at 12:14 PM Report abuse +1 rate up rate down Reply