Why This Week Is More Important Than It Seems
What’s in Today’s Report:
- Why This Week Is More Important Than It Seems
- Weekly Market Preview: Still About Vaccines and Stimulus
- Weekly Economic Cheat
Futures are marginally lower following a mostly quiet weekend, although there was mild disappointment regarding future EU stimulus.
The EU bailout fund saw the amount of direct grants reduced to 390B from 500B euros at this weekend’s EU summit, and that’s weighing marginally on stocks.
Economically, the only notable number was German PPI, which slightly missed estimates (flat vs. (E) 0.2%).
Today there are no notable economic reports and just two important earnings, HAL (-$0.11) and IBM ($2.14), but it’s unlikely either will move markets.
Instead, negotiations will begin on the new stimulus bill and that will be the major market influence today (that or any new vaccine headline). If negotiations start poorly, expect stocks to sink moderately in response (although markets still very much expect a deal to get done, and that needs to happen as the $600/week stimulus checks end this week).
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