Stocks closed mixed, but mostly higher on Monday, the first trading day of May. The Dow, S&P, and small-cap Russell 2000 were all higher. Only the Nasdaq was lower. But in all fairness, they did lead the gains in April.

Earnings season continues with another 1,614 companies reporting throughout the rest of the week, and another 1,037 companies next week.

The steady stream of economic reports continues as well.

Yesterday's PMI Manufacturing Final report came in at 60.5, beating last month's 59.1.

The ISM Manufacturing report, however, slipped to 60.7 vs. last month's 64.7 and views for 65.0. But for context, it should be noted that the previous two reports came in above expectations.

Construction Spending on a m/m basis was up 0.2% vs. last month's -0.6%, but missed the consensus for 2.0%. On a y/y basis, it increased to 5.3% vs. last month's snapshot of 4.8%.

Today we'll get Motor Vehicle Sales, International Trade in Goods and Services, retail sales via the Redbook report, and Factory Orders. Tomorrow we'll get MBA Mortgage Applications, the ADP Employment Report, the PMI Composite Final report, and the ISM Services Index. Thursday we'll get Weekly Jobless Claims, the Challenger Job-Cut Report, and the Productivity and Costs report. And then on Friday we'll get the always important Employment Situation report, and Consumer Credit.

We should also start hearing more about the proposed $2.25 trillion infrastructure package, the $1.8 trillion Families Plan package, and all of the tax hikes to go along with it.

These are all just proposals at this point. And they are likely to look different once they wind their way thru Congress. Nonetheless, we can see the framework. And we should soon get more details.

In the meantime, the economy continues to rebound. Fed Chair Jerome Powell has said the economic outlook has "clearly brightened." Although, he did acknowledge that the recovery remains uneven.

But Mr. Powell, and the Fed, have repeatedly pledged to do whatever it takes for as long as it takes to support the economy.

In spite of the unevenness, Q1 GDP just came in at 6.4%. And full-year GDP is expected to come in at the fastest pace in 36 years.

And it's looking like we're at the beginning of a multiyear boom.

So make sure you're taking full advantage of it.

See you tomorrow,