Earnings Season Takeaways in the COVID Era
What’s in Today’s Report:
- In the Era of COVID, How Can We Use Earnings to Generate Market Insights?
Stock futures are trading modestly higher this morning as investors digest yesterday’s new record highs in the S&P after a mostly quiet night of news.
Traders remain optimistic for a stimulus deal however there were no positive developments overnight while economic data was sparse and did not move markets.
Looking into today’s session, there are no economic reports to watch and the calendar is fairly quiet in the morning.
Potential market catalysts do pick up in the afternoon as the Treasury will hold a 20-Yr Bond auction at 1:00 p.m. ET which has the potential to move rates, the yield curve and ultimately impact equity markets.
Later in the afternoon, the minutes from the most recent Fed meeting will be released at 2:00 p.m. ET before Richmond Fed President Barkin speaks at 3:00 p.m. ET.
The market’s primary focus right now however remains the stimulus package and with rising chatter about potential concessions in the front half of the week, the prospects for a deal have improved. And any additional positive news regarding a stimulus deal should help the market continue to grind to new record levels.
