US Stocks traded at records highs again last week as the Federal Reserve reaffirmed investors the central bank’s commitment to keep loose monetary policy in place.

U.S. producer prices increased more than expected in March, resulting in the largest annual gain in 9-1/2 years, fitting in with expectations for higher inflation as the economy reopens amid an improved public health environment and massive government funding.  The producer price index for final demand jumped 1.0% last month after increasing 0.5% in February. In the 12 months through March, the PPI surged 4.2%. That was the biggest year-on-year rise since September 2011 and followed a 2.8% advance in February.

A deluge of corporate earnings results and economic data due for release this week will test investors after the stock market's latest record-setting rally.  Traders have been pricing in the likelihood of a rebound in corporate earnings to coincide with the recent batch of better-than-expected economic data. Another round of firming economic data is expected this week, with the effects of the latest round of fiscal stimulus and recent roll-back of more social distancing restrictions bolstering economic activity.