Services make up more of the economy, jobs, and the stock market. The time has come to focus on services data to get a sense of the overall economic picture.

The speculative exuberance around special purpose acquisition companies (SPACs) seems to be over, but investors still have questions about them.

U.S. equities are adding on to a three-week winning streak to begin the new week, with both the S&P 500 and the Dow advancing to all-time highs. The Energy sector is leading the way amid the continued crunch, while the Financials sector is the biggest laggard with rates likely a drag. Earnings remain in focus again this week, as Restaurant Brands International beat the Street's forecasts, but Kimberly-Clark fell short of estimates, while both companies noted a common theme among earnings releases this quarter—supply chain problems and higher costs. Meanwhile, there is likely some caution as investors are looking ahead to both a robust economic calendar this week and several tech heavyweights reporting their earnings. Today's economic calendar is light as the Dallas Fed Manufacturing Index was surprisingly higher. Treasuries are ticking higher as yields fall, particularly on the short end of the curve. The U.S. dollar is slightly higher, while crude oil is slightly lower, and gold is advancing. Europe finished mixed in a somewhat subdued session.