Today's Stock Market News & Events: 1/7/2021

Today's market-moving economic data and earnings schedule

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The possibility of Democrats sweeping the Georgia runoff election -- a possibility that was then certified after the bell yesterday -- gave investors hope for additional emergency stimulus direct to Americans. Meanwhile news that the 10-year Treasury note yield topped 1% for the first time since March on Wednesday also fueled investor optimism. Curbing some of this optimism was news yesterday that protestors stormed the Capitol as Congress counted the Electoral College votes that declared victory for President-elect Joe Biden.

The Dow Jones Industrial Average (DJI - 30,829.40) added 437.8 points on Wednesday. The S&P 500 Index (SPX - 3,748.14) added on 21.3 points and the Nasdaq Composite (IXIC - 12,740.8) dropped 78.2 points. Amidst the chaos on Capitol Hill, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), ultimately closed lower.

Economic activity shows no signs of slowing down today, 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. 

The following companies are slated to release quarterly earnings reports today, January 7:

Acuity Brands, Inc. (NYSE:AYI -- $128.30) provides lighting and building management solutions and services. Acuity Brands will report its first-quarter earnings before the bell today.

AngioDynamics, Inc. (NASDAQ:ANGO -- $16.19) designs, manufactures, and sells various medical, surgical, and diagnostic devices. AngioDynamics will report its second-quarter earnings before the bell today.

Bed Bath & Beyond, Inc. (NASDAQ:BBBY -- $21.03) operates a chain of retail stores. Bed Bath & Beyond will report its third-quarter earnings before the bell today.

Conagra Brands, Inc. (NYSE:CAG -- $35.73) operates as a consumer packaged goods food company. Conagra will report its second-quarter earnings before the bell today.

Helen of Troy, Ltd. (NASDAQ:HELE -- $228.51) designs, develops, imports, markets, and distributes a portfolio of consumer products. Helen of Troy will report its third-quarter earnings before the bell today.

Lamb Weston Holdings, Inc. (NYSE:LW -- $76.63) produces, distributes, and markets value-added frozen potato products. Lamb Weston will report its second-quarter earnings before the bell today.

Lindsay Corporation (NYSE:LNN -- $137.70) provides water management and road infrastructure products and services. Lindsay Corp will report its first-quarter earnings before the bell today.

REV Group, Inc. (NYSE:RVLV -- $34.56) operates as an online fashion retailer for consumers. REV Group will report its first-quarter earnings before the bell today.

Walgreens Boots Alliance, Inc. (NYSE:WBA -- $34.56) operates as a pharmacy-led health and beauty retail company. Walgreens Boots Alliance will report its first-quarter earnings before the bell today.

Accolade, Inc. (NASDAQ:ACCD -- $44.05) develops and provides technology-enabled solutions. Accolade will report its third-quarter earnings before the bell today.

Duck Creek Technology, Inc. (NASDAQ:DCT -- $40.65) provides software-as-a-service core systems to the property and casualty insurance industry. Duck Creek Technology will report its first-quarter earnings before the bell today.

Micron, Inc. (NASDAQ:MU -- $77.11) designs, manufactures, and sells memory and storage products. Micron will report its first-quarter earnings before the bell today.

PriceSmart, Inc. (NASDAQ:PSMT -- $97.43) owns and operates U.S. style membership shopping warehouse clubs. PriceSmart will report its first-quarter earnings before the bell today.

WD-40 Company (NASDAQ:WDFC -- $265.25) develops and sells maintenance products, and homecare and cleaning products. WD-40 will report its first-quarter earnings before the bell today.

Here is a quick recap of how yesterday's earnings reports played out:

Resources Connection, Inc. (NASDAQ:RGP -- $12.58) provides consulting services to business customers. Earnings per share fell 46.15% over the past year to $0.21, which beat the estimate of $0.19. Revenue of $153,222,000 declined by 16.96% year over year, which missed the estimate of $153,320,000.

MSC Industrial Direct Co., Inc. (NYSE:MSM -- $82.32) distributes metalworking and maintenance, repair, and operations (MRO) products. Earnings per share fell 9.09% year over year to $1.10, which beat the estimate of $1.08. Revenue of $771,904,000 decreased by 6.28% from the same period last year, which beat the estimate of $770,180,000.

RPM International, Inc. (NYSE:RPM -- $89.08) manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets. Earnings per share were up 39.47% over the past year to $1.06, which beat the estimate of $1.00. Revenue of $1,486,000,000 up by 6.07% year over year, which beat the estimate of $1,450,000,000.

Resources Connection, Inc. (NASDAQ:RGP -- $12.58) provides consulting services to business customers. Earnings per share fell 46.15% over the past year to $0.21, which beat the estimate of $0.19. Revenue of $153,222,000 declined by 16.96% year over year, which missed the estimate of $153,320,000.

Looking ahead to Friday, the trading session will be packed to the brim again, starting with unemployment rate data and an average hourly earnings update for December. Nonfarm payrolls are also expected to come out, in addition to inventories and consumer credit data.  All economic dates listed here are tentative and subject to change.

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