The first week of 2021 wraps up with a busy economic schedule
All three market indexes closed in the green on Thursday, fueled by the confirmation of Joe Biden as president and upbeat manufacturing data. It looks like Wall Street was able to move past Wednesday night's attack on the Capitol and stay focused on Georgia's runoff election results, which ultimately gave the Democratic party control of the Senate and could point to additional stimulus in the near future.
The Dow Jones Industrial Average (DJI - 31,041.13) added 211.7 points on Thursday. The S&P 500 Index (SPX - 3,803.79) added on 55.7 points, or 1.5% and the Nasdaq Composite (IXIC - 13,067.48) added 326.7 points on Thursday. The Cboe Volatility Index (VIX - 22.37) lost 10.8% during yesterday's trading session.
Today's 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.
There are no companies slated to release quarterly earnings reports today, January 8:
Looking ahead to next week, the second week of the new year is chock full of economic data for investors to unpack. The weeks starts off on a slow note, with no economic data, though Tuesday will feature the National Federation of Independent Business (NFIB) small-business index. Rounding out the week from Wednesday onward is the Consumer Price Index (CPI), jobs data, and the import price index. Friday closes out the week with plenty to digest, including the Empire state index, as well as preliminary consumer sentiment index data.
All economic dates listed here are tentative and subject to change.