Central bankers in the US and Europe are in high gear in the coming week, with the European Central Bank expected to expand its easing program and cut its already negative deposit rate.
The Fed holds its June meeting on Tuesday and Wednesday and is not expected to take action when it releases its statement Wednesday afternoon.
Crude oil slipped under USD 50 a barrel as Brent, the global benchmark, posted a seventh straight weekly loss. Gold rose and notched its first weekly gain in four weeks as political uncertainty in Greece boosted demand for safe-haven assets.
By some measures, the near 10 percent decline in the Standard & Poor's 500 stock index from a record high last month may already have flushed out much of the speculative money that helped propel a bull market in stocks beyond the average length.
The outgoing year certainly earns its place in history as one of the best of times for stocks.