What Are the Next Catalysts for the Market?
What’s in Today’s Report:
- What Are the Next Catalysts for the Market?
- Weekly Economic Cheat Sheet: Jobless Claims are The Key Report This Week
- Weekly Market Preview: With Stimulus Done, What’s the Next Positive Catalyst?
Futures are moderately higher after President Trump signed the $900 billion dollar stimulus package.
Late Sunday night Trump signed the stimulus package as-is, avoiding a government shutdown and delivering economic stimulus to U.S. citizens. Despite threats not to sign the bill, markets always expected Trump to ultimately sign the legislation, so while stocks are enjoying a bounce on the news, this was already mostly priced in (so don’t expect a big rally off the news).
Economically, there were no notable reports overnight and this will be a very quiet week for economic data.
Today, with stimulus behind us and this week traditionally devoid of any major economic reports or corporate news, markets will focus on 1) COVID-19 and economic lockdown trends (both still worsening) and 2) The pace of vaccine rollout (lagging behind expectations). Improvement in both will help fuel a rally into the new year.