On Tuesday companies will report what should be a very interesting earnings season. The first quarter had the S&P up a mere 1.8%, with lots of big moves up and down. The equity markets trade mostly on anticipation of earnings, but with the markets currently fairly valued, this earnings season is that much more important. If equities are to go significantly higher from here, companies are going to need decent earnings reports, and great forward guidance in the upcoming quarters. Additionally, the Fed’s beige book (summary of current economic conditions) comes out this week which will help investors get a feel for what the fed will do going forward. Finally, consumer confidence gets released at the end of the week, which is a leading indicator for future spending and growth.