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Politics and Vaccines (The First Important Events of 2021)

/in , /by

What’s in Today’s Report:

  • Politics and Vaccines (The First Important Events of 2021)
  • Weekly Market Preview:  All About Politics (Georgia runoof) and Vaccines (When do we get the JNJ data?)
  • Weekly Economic Preview:  An Important Week for Markets to Start a New Year

Futures are starting the new year moderately higher despite mixed economic data, as momentum from the end of 2020 is continuing to push stocks higher.

Economic data was mixed as the EU final manufacturing PMI missed estimates (55.2 vs. (E) 55.5) while the UK reading slightly beat estimates (57.5 vs. (E) 57.3).

Politically, some Republicans will challenge the election result, but Biden will be certified the winner and the key political event this week remains the Georgia Senate run-off (and it could provide a potential surprise).

Today focus will be on the December PMI Manufacturing Index (E: 56.5) because it’ll give us more insight into just how much momentum the U.S. economy has lost during this recent COVID spike.  There are also three Fed speakers, Evans & Bostic at 10:00 a.m. and Mester at 12:15 p.m., but they shouldn’t move markets.