The first Wednesday of 2021 will be a busy one for investors
Sentiment on Wall Street brightened during the second trading day of 2021 yesterday as investors brushed off rapidly increasing COVID-19 cases and continued uncertainty surrounding the Georgia runoff election to focus on the possibility of a strong economic recovery. Upbeat manufacturing data and a notable jump in oil prices helped boost overall investor sentiment, allowing all three market indexes to finish the day in the green.
The Dow Jones Industrial Average (DJI - 30,391.60) added 167.7 points on Tuesday. The S&P 500 Index (SPX - 3,726.86) tacked on 26.2 points and the Nasdaq Composite (IXIC - 12,818.96) added 120.5 points yesterday. The Cboe Volatility Index (VIX - 25.34) lost 1.6 points during yesterday's trading session.
The market heats up today as investors get ready to unpack the latest ADP employment report. In addition, factory orders data, and the Markit services PMI will be released. The latest meeting minutes from the Federal Open Market Committee (FOMC) are coming out. A solid handful of companies will also release their earnings report today as earnings season revs up.
The following companies are slated to release quarterly earnings reports today, January 6:
The Greenbrier Company, Inc. (NYSE:GBX -- $35.96) designs, manufactures, and markets railroad freight car equipment. Greenbrier will report its first-quarter earnings of 2021 before the bell today.
MSC Industrial Direct Co., Inc. (NYSE:MSM -- $82.32) distributes metalworking and maintenance, repair, and operations (MRO) products. MSC Industrial will report its first-quarter earnings of 2021 before the bell today.
RPM International, Inc. (NYSE:RPM -- $89.08) manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets. RPM will report its second-quarter earnings of 2021 before the bell today.
The Simply Good Foods Company (NASDAQ:SMPL -- $30.45) operates as a consumer packaged food and beverage company. Simply Good Foods will report its first-quarter earnings of 2021 before the bell today.
Jefferies, Inc. (NYSE:JEF -- $24.92) operates as a diversified financial services company. Jefferies will report its fourth-quarter earnings after the market closes today.
Resources Connection, Inc. (NASDAQ:RGP -- $12.58) provides consulting services to business customers. Resources Connection will report its second-quarter earnings of 2021 after the market closes today.
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Looking ahead to Thursday, economic activity shows no signs of slowing down, with the first round of jobless claims data of 2021 due out. Investors will be looking at trade deficit data for November, and the ISM non-manufacturing index. All economic dates listed here are tentative and subject to change.