Why the Post Office Drama Matters to Markets

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What’s in Today’s Report:

  • Why the Post Office Drama Matters to Markets
  • Empire State Manufacturing Survey Takeaways

S&P 500 futures are slightly higher, trading within 10 points of their record high this morning after a mostly quiet night of news.

U.S.-China tensions remain elevated following the Commerce Department’s new tighter restrictions on Chinese telecom giant, Huawei Technologies, but for now the impact on the broad markets has been limited.

There were no notable economic reports overnight and no material developments regarding the next coronavirus relief bill.

Today is lining up to be another relatively slow day in the markets as there is only one economic report: Housing Starts (E: 1.240M) and there are no Fed officials scheduled to speak. The quiet calendar will leave investors largely focused on the status of the stimulus bill negotiations in Congress which remain in a stalemate.