The markets kicked off the week on a high note following better-than-expected economic data along with reassurances from the Bank of Japan and the European Central Bank.
The S&P/Case Shiller composite index of 20 metropolitan showed an increase of 1.1% in single-family home prices in March. Compared with a year ago, U.S. home prices rose 10.9% in March, also topping expectations.
Another piece of positive economic news was the consumer confidence index rising to 76.2 in May, as Americans are feeling more optimistic about the job market. This reading marks a 5-year high and also topped economists' expectations.
Tiffany (TIF) reported better-than-expected profit and an improvement in sales, thanks to its overseas operations.
On the M&A front, Valeant Pharmaceuticals (VRX) announced it will acquire Bausch and Lomb in a deal worth $8.7 billion.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications as well as earnings from Michael Kors (KORS).
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