There was only a little economic data slated for release today. According to a survey of corporate purchasing managers, business activity in the Chicago region contracted in March, but the contraction was less severe than in February. The Chicago purchasing managers index (PMI) was at 48.2% in March compared with 44.5% in February. The prices paid index rose to 83.9% in March compared with 79.4% in February. The new orders index rose to 53.9% versus 48.8% in July. Readings under 50% indicate overall business contraction.

The economic calendar picks up as the week wears on, with all eyes focused on Friday's release of the March nonfarm payrolls report. To see the full economic calendar, please read Schaeffer's Looks Ahead.