All three major indexes shed about 1% last week.
However, the market hasn't lost much of its momentum. The Dow Jones Industrial Average, S&P 500 and Nasdaq are all up between 18% and 23% so far this year.
Economic drivers: A smattering of reports on the state of the U.S. economy will drive markets this week.
Investors will get a look at the manufacturing sector, with empire manufacturing, industrial production, producer and consumer prices due out throughout the week.
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The housing market will be in play, with housing starts, building permits and the National Association of Home Builders housing market report on tap.
Investors will also get a sense of how confident Americans are in the economy as retail sales and the Michigan sentiment report are released on Tuesday and Friday, respectively.
Corporate earnings: On top of the economic data, several major companies are set to report earnings this week, as well.
Wal-Mart (WMT), Macy's (M), Deere & Co (DE) and Cisco Systems (CSCO) will all report throughout the week.