We start today with major indices opening at all-time highs and participants extremely optimistic.Energy continues to be in its own orbit, powering higher on the latest cold front that blanketed .02/20/2021 22:13:09PM EST.
US and Greater Chinese markets are closed today, but the markets are moving. Equities are bid. The Nikkei led the Asia Pacific region with a 2% gain and pushed above 30000 for the first time since 1990.
Market Watch 666 For 17January 2021
December s consumer & producer prices, retail sales, and industrial production; November s business inventories and JOLTS
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The week also saw the release of the first regional Fed manufacturing survey for January: the Empire State Manufacturing Survey from the New York Fed, which covers all of New York state, one county in Connecticut, Puerto Rico and northern New Jersey, reported their headline general business conditions index fell from +6.3 in November and from +4.7 in December to +3.5 in January, suggesting somewhat sluggish growth of First District manufacturing.
Friday’s data showed economic weakness. Consumers, the drivers of the economy, pulled back during the holiday season and have exhibited weakening sentiment.
Stocks slide on mostly poor economic data and as banks start earnings season
January 15, 2021SharePrint
Risk aversion is percolating as investors brace for arduous negotiations over Biden’s stimulus proposal. Not helping sentiment is the Trump administration passing of the US-China trade/tech war baton. The blacklisting of another 9 Chinese companies brings the Defense Department total to 44 companies that may be owned or controlled by China’s military. These measures will also punish US manufacturers as they will struggle to fill their chip supplies.
Throughout the pandemic, the official start of earnings season was mostly positive for stocks as most of the banks painted a picture of a resilient consumer and impressive trading results. Today, JPMorgan, Citigroup, and Wells Fargo kicked off earnings season and near-term uncertainty and longer-term competition sent the entire banking sector lower.