Market Multiple Table: February Update
What’s in Today’s Report:
- Market Multiple Table: February Update
Stock futures are trading modestly lower this morning after a mostly quiet night of news as the recent run to fresh record highs is digested.
Economically, the NFIB Small Business Optimism Index was 95.0 in January vs. (E) 98.0. The headline “miss” is slightly weighing on risk assets in pre-market trading this morning.
Today, there is one economic report to watch: December JOLTS (E: 6.40M) and one Fed official scheduled to speak: Bullard (12:00 p.m. ET), however the market will remain primarily focused on any new developments with the latest stimulus package.
There is also a 3-Yr Treasury Note Auction at 1:00 p.m. ET and given the recent sharp steepening move across the curve, the results could move Treasuries, and in turn, impact equities (further steepening will eventually become a headwind for stocks as the 10 year yield continues to rise).
Finally, there are a few notable earnings releases after the close: TWTR ($0.29), CSCO ($0.75), LYFT (-$0.72).