The SPDR S&P 500 ETF (NYSE: SPY) saw a gap-open higher Monday but only closed up 0.3%. This came after a week marked by volatility and heavy buying Friday on the prospect of peace in Ukraine, or rather greed-driven hope for as much. Today's issues that could help drive the direction of the SPDR S&P 500 include economic and geopolitical factors. I suspect developments in Ukraine will dictate the day, and EU economic concerns could weigh as well. Before all is said and done, I see the SPY closing in the red on the day due to uncertainty about how Russia's purported aid effort for Ukraine goes.
In my week ahead article, I did not cover any of Tuesday's economic data points, with my focus instead aimed at the week's price measures, which will all be reported later this week. Today's data includes the NFIB Small Business Optimism