What’s in Today’s Report:
- Sevens Report Economic Breaker Panel: January Update
Stock futures are trading higher as investors digest strong earnings and look ahead to the inauguration of Joe Biden as the 46th President today.
NFLX is up 13%+, testing record highs in premarket trade after the company released strong Q4 results yesterday.
Economically, European inflation data was largely inline with expectations and not moving markets this morning.
There will be a lot of moving pieces in the market today as investors focus on the inauguration ceremonies for incoming President Joe Biden, however there are multiple other catalysts on the calendar.
On the economic front, there is one report due to be released this morning: Housing Market Index (E: 86) while no Fed officials are scheduled to speak today.
Turning to earnings, there are several notable releases ahead of the bell including: PG ($1.51), UNH ($2.39), FAST ($0.33), and MS ($1.29), while UAL (-$6.37) AA ($0.12), and DFS ($2.27) will all report after the close.
Bottom line, barring any materially negative surprises from earnings or economic data today, optimism surrounding the stimulus plans of the incoming administration should help markets maintain this week’s risk-on tone into the back half of the holiday-shortened week.