What’s in Today’s Report:
- S&P 500 Back At 2900: What’s Changed Since October.
- Weekly Market Preview (All About Earnings)
- Weekly Economic Cheat Sheet (More Important Chinese Data)
- I’ll be joining Liz Claman on Countdown to the Closing Bell at 3:55 p.m. today on Fox Business to Discuss the Markets. Tune In!
Futures are flat following a quiet weekend as markets digest last week’s rally.
Expectations of a U.S./China trade deal continue to rise, with some anticipating an announcement this week. The WSJ, Reuters and others had positive articles this morning. But, as a reminder, the market has already priced in a deal, so the real focus of any announcement will be when tariffs are removed, and the sooner, the better.
There was no notable international or U.S. economic data overnight.
Today there is one notable economic report, Empire State Manufacturing Index (E: 6.8) and one Fed speaker, Evans at 8:30 a.m. & noon. Given that somewhat light calendar, focus will be on earnings, and some numbers we are watching today include: C ($1.78), GS ($5.05), JBHT ($1.25). If data and earnings are solid, this rally can continue.