Today's Stock Market News & Events: 12/29/2020

Today's market-moving economic data and earnings schedule

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    Stocks wrapped up the last Monday of 2020 in the green, as investors reacted favorably to U.S. President Donald Trump's surprise signing of a $900 billion stimulus bill into law. Elsewhere, the House voted on raising stimulus checks to $2,000 yesterday. COVID-19 cases continue to climb, with no less than 184,000 new cases in the United States each day, according to Johns Hopkins University data.

    The Dow Jones Industrial Average (DJI - 30,403.97) added 204.1 points on Monday. The S&P 500 Index (SPX - 3,735.36) added 32.3 points and the Nasdaq Composite (IXIC - 12,899.42) added 94.7 points yesterday. The Cboe Volatility Index (VIX - 21.70) added 0.2 point during yesterday's trading session.

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    We will see another relatively quiet day on Wall Street as far as scheduled events. Investors can expect the Case-Shiller home price index data to be released tomorrow morning.

    There are no companies slated to release quarterly earnings reports today, December 29.

    Here is a quick recap from yesterday's singular earnings report:

    Weibo Corporation (NASDAQ:WB) is a social media platform for people to create, distribute, and discover content in the People's Republic of China. Weibo reported its third-quarter earnings before the bell on Monday, December 28. Earnings per share decreased 14.29% over the past year to $0.66, beating analyst estimates of $0.60 for Weibo stock. Weibo reported revenue of $465,739,000, a decrease of 0.43% compared to the third quarter of 2019, beating analyst estimates of $449,260,000.

    Looking ahead to tomorrow, market activity will finally pick up for the week. Investors can expect the Chicago PMI, pending home sales data, and an advance report on trade in goods all to be released on Wednesday.

    The U.S. stock market has a shortened schedule again this week, with only four full trading days. On Friday, January 1, the U.S. stock market will be closed in observance of New Year's Day. Normal trading will resume on Monday, January 4.

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