The Eurozone continues to be haunted by the deflation ghosts. The PPI year-over-year decline was the greatest since the Great Recession.

For the week, the Dow rose 0.17 percent while the S&P fell 0.01 percent and the Nasdaq ended down 0.23 percent in its third straight weekly decline. The markets were full of sound and fury, signifying nothing, perhaps.

Econintersect: Last week the U.S. indicted five individuals in the People's Liberation Army for industrial espionage. The Chinese government last week banned the use of Microsoft Windows 8 operating system from government computers to "ensure computer security".