Market Outlook Stocks Rally; S&P 500 Closes Above 1100

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Stocks rallied to new highs for the year on Monday, thanks to strong headline retail sales and the Federal Reserve's stance on low interest rates. But a warning from influential analyst Meredith Whitney trimmed some gains in late trading.

The NYSE composite climbed 1.6%, boosted by commodity-related stocks. Thanks to a weaker dollar, gold climbed to a new record high and crude rose 3%.

Meanwhile, the S&P 500 gained 1.4%. It closed above resistance at the 1100 mark for the first time since Oct. 2 of last year.

The Nasdaq also picked up 1.4%, and the Dow rose 1.3%.

Volume jumped on both exchanges.
The markets were bullish due to better than expected Retail Sales. the PPI and the CPI reports are both do out this week. Resistance at S&P 1121