Why Have Stocks Dropped?
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What’s in Today’s Report:
- Why Have Stocks Dropped?
- Weekly Market Preview: Can Goldilocks Data Fuel A Rebound?
- Weekly Economic Cheat Sheet: Friday’s Jobs Report is the First Big Report of 2025.
Futures are extending Friday’s rally thanks to a rebound in political optimism and despite more mixed global economic data.
Mike Johnson was relatively easily re-elected Speaker of the House on Friday, providing a needed positive political event for markets and boosting pro-growth policy hopes.
Economically, global data remained lack luster as the UK Services PMI missed expectations (51.1 vs. (E) 51.4.).
Today focus will turn back to data with Factory Orders (E: -0.3%) and the December Services PMI (E: 58.5) and the more Goldilocks the readings, the more they’ll fuel this early bounce. There is also one Fed speaker, Cook (9:15 a.m. ET), but she shouldn’t move markets.
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