US
The two big data releases for the US will be the ISM manufacturing and the employment report. The ISM manufacturing reading is expected to show a small decline in January. The US nonfarm payroll report is supposed to show a rebound of 50,000 jobs in January, but it will be difficult as optimism is low for any signs of a rebound in leisure and hospitality jobs.
US Politics
A busy week in DC will have investors following every incremental update on the COVID relief bill and whether Treasury Secretary Yellen will tweak the strategy with debt issuance. On the stimulus front, lawmakers are early in negotiations so the divide should remain wide on what is an acceptable headline price tag of fiscal support.
The Week Ahead: Georgia Elections, December Jobs and 8 Earnings Reports to Watch It s time to start a new trading year.
Jan 03, 2021 | 09:15 AM EST
We have finally closed the books on 2020, a year that we can safely say was unlike any other. As investors and traders return from the holiday weekend, the agenda for the week includes a host of events, reports and earnings releases that are likely to influence the market.
On Tuesday, the important Georgia Senate runoff elections take place, with the balance of power in that government chamber at stake and major implications for U.S. politics and the incoming Biden administration.
concern about the suez canal br some where some of the oil comes through. and reduced oil inventory and less supply out of libya. a lot happening overseas. how do high oil prices compute to price at the pump? this is what we re paying now $3.55, that s the average across the country. we re lower than we were a months ago. you put together a 10 to 20 cent increase, some say 30 cents and each penny increase how it feels to you each penny increase is $4 million a day that is out of your pocket in this country so that s like a tax on consumers, quite frankly, less money to spend. everyone is going to wonder yes prices go up in the summer
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they export about 3.5 million barrels per day. that s what they pop out there. but there are important points here, our usage of oil is going down in this country right now. it has fallen. so we have higher supplies. natural gas supplies at a five year high. you have the highest number of oil inventory since 1999. this market does not move on fundamentals. we would all love that. but it s really unrealistic unless you take in all the moving parts. look forward to seeing you everywhere. i want to pump $2.50 gas. don t we all? absolutely. coming up straight ahead, an appalling story. a man car jacked and beaten in broad daylight. what s worse is bystanders did nothing. and don t worry about voting. the election is over? three top officials saying president obama will be hanging around for another four years. are they taking the voters for granted? we re going to talk about that and so much more.