Home Prices, FOMC Meeting, Q1 GDP, Treasury Auctions

Stock markets are looking to open the final week of April looking up after the benchmark S&P 500 added 2.1% last week.

Positive earnings results were the main driver of those gains “as a whopping 84% of S&P 500 companies so far … have beaten expectations,” said economists at BMO Capital Markets. They noted that the historical norm is just 66%.

One hour ahead of the opening bell on Monday, Dow futures are up 33 points to 11,175 and S&P 500 futures are trading 2.25 points higher at 1,214.50. The 2 year Treasury note is +0-01 at 99-29 yielding 1.045% and the 10 year note is +0-06 at 98-20 yileding 3.794%.

The commodities picture is mixed: WTI crude oil is up 32 cents to $85.35 per barrel, while Spot Gold is off $1.60 to $1,156.00.

In terms of economic data, the week opens on a slow note. But Tuesday’s home price index should be closely watched, Wednesday’s monetary policy meeting for the Fed will make global headlines, and first-quarter GDP late in the week will have broad implications.

Monday:

No major economic data.

Treasury Auctions:

• 11:30 â€