The weekend G20 meeting was a typical non event, and currency speculators began the week by gunning the U.S. dollar.  The greenback to a big hit (-1%) overnight and started Monday at lows, causing the inverse reaction of asset inflation in all things priced in dollars.  The U.S. market surged out on the open in this now tired trade of weak dollar, strong everything else.  However as the day progressed the dollar pared losses to a half percent loss, which led to some selling in markets.   The S&P 500 gained 0.2% and NASDAQ 0.5%.

• The dollar resumed its months-long slide Monday after weekend talks by finance officials of the Group of 20 nations promised to avoid "currency wars," but offered few specifics on enforcement. The deal did not have a strong enforcement mechanism behind it, but still "probably reduces the risk of a trade war," said UBS analyst Gareth Berry. Still, there's "no coordination" in the G-20, said Win Thin of Brown Brothers Harriman. Countries "are still doing what they think is best for their countries," whether that involves capital controls or foreign exchange interventions.

Material stocks advanced 1.7% as participants poured money into diversified metals (+2.2%) and fertilizer and agricultural chemicals (+2.2%). While basic materials stocks were strong, commodities were too. Commodities collectively gained 1.0%, according to the CRB Commodity Index.    Gold rose 1.1% to $1338.90 while silver gained 43 cents to $23.54.  Crude gained 83 cents to $82.52.

The National Association of Realtors said sales of previously occupied homes rose 10 percent last month. However, sales remain extremely weak compared with where they were just a year ago.