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.