Market Multiple Levels: S&P 500 Chart
What’s in Today’s Report:
- Market Multiple Levels: S&P 500 Chart
- NFIB Small Business Optimism Index Takeaways
Stock futures are little changed this morning as investors continue to digest the recent sprint to new record highs following a mostly quiet night of news.
Eurozone Industrial Production rose 2.5% vs. (E) 2.3% in November but EU stocks are trading slightly lower due to ongoing, tight economic lockdowns across the continent.
Looking into today’s session there is one economic report to watch this morning: CPI (E: 0.4%), and a “hot” number could trigger a renewed rise in bond yields that would ultimately weigh on stocks.
Meanwhile, there is also a 30-Yr Bond Auction at 1:00 p.m. ET and if demand is strong, as it was for the 10-Yr auction yesterday, that may help stocks stabilize, especially if the inflation numbers come in above expectations.
Finally, it is another busy for the Fed as several officials are scheduled to speak including: Bullard (9:30 a.m. ET), Brainard (1:00 p.m. ET), Harker (2:00 p.m. ET), and Clarida (3:00 p.m. ET), but as long as they all stick to the mostly dovish narrative of recent, they should not have a significant impact on equity markets today.
