"We're at the point where economic data, no matter what comes out between now and next Tuesday, will be viewed through rose-coloured glasses, " said Andrew Baker, senior trader at Los Angeles firm Wedbush Morgan.

BBC: Wall Street powers to 11-month high

Andrew Sullivan, principal sales trader at Piper Jaffray, said investors were cautious ahead of key events this week, including central bank policy-setting board meetings in the U.S. and Japan, as well as the outcome of the French election.

WSJ: Asia Stocks Fall on China Data