Stocks rebounded a bit Monday from tepid results last week as traders scaled back in volume before the holidays.

The Dow Jones Industrial Average closed up 85 to 10414. The S&P 500 was up 12 at 1114 and the Nasdaq rose by 26 to 2238, a high for the year.

Indexes had finished weaker last week, hurt by concerns over tighter monetary policy after the Federal Reserve detailed when it will end some of its special liquidity programs. The Standard & Poor's 500 ended 0.4% weaker, though the tech-heavy Nasdaq Composite rose 1% after strong reports from Research In Motion (RIMM) and Oracle (ORCL).

Year-to-date, though, the S&P 500 is up 23%.

"Although there are concerns, equities are still benefiting from improving macroeconomic fundamentals and accommodative policy. Equity valuations do not look expensive, with bottom-up earnings forecasts for the S&P 500 in 2010 of $76.83, putting the market on a forward [price-to-earnings ratio] of 14.3 times," said strategists from J.P. Morgan Asset Management.

The avalanche of snow that hit the East Coast could affect retailers.

Economists at Bank of America Merrill Lynch (BAC) said U.S. consumers have held up better than many expected through high unemployment, debt burdens, depressed asset values and tight credit. "American consumers have been battered, but they still answer the bell when there is a good deal to be had," they said in a note to clients.

In Asia, worries about a cooling of property markets dragged the Hang Seng 1.1% lower, though the Nikkei Stock Average of 225 companies rose 0.4% in Tokyo. The pan-European Dow Jones Stoxx 600 was up in late trading.

Oil futures retreated from early gains and as of 4:10 p.m., front-month contracts for January delivery were down $1.08 on the Nymex, at $73.34.

For a detailed rundown onTuesday s trading session see our market story.

Winners

Among unleveraged ETFs trading at meaningful volumes, the SPDR S&P Metals & Mining fund (XME) finished out ahead of broader indexes, rising 1.9% for the day. The Retail HOLDRS Trust (RTH) rose 1.7% on holiday shopping hopes.

Losers

The iPath Exchange Traded Notes S&P 500 VIX Short-Term Futures Index fund (VXX) dropped 3.1% on the market's sharp rebound. Rising oil price futures pushed back on natural gas prices, dropping the United States Natural Gas fund (UNG) 2.4%.

Tuesday s Notebook

Earnings and Conference Calls
Cintas, Commercial Metals, CPI, FSI International, Lindsay, Micron Technology, Navistar International, Park Electrochemical, Progress Software, Red Hat, TIBCO Software, Xenonics Holdings

Economic Data
7:45 a.m. ICSC-Goldman Store Sales
8:30 a.m. GDP
8:30 a.m. Corporate Profits
8:55 a.m. Redbook
10:00 a.m. Existing Home Sales
10:00 a.m. FHFA House Price Index