Today's Stock Market News & Events: 1/13/2021

Today's market-moving economic data and earnings schedule

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Stocks spent most of Tuesday waffling at breakeven, though logging small gains by the end of the trading session. Investor optimism over a potential post-coronavirus economic recovery overshadowed the announcement of rising interest rates. Many big tech companies -- including Facebook (FB) and Alphabet (GOOGL) --cooled off on Monday, with traders and analysts now approaching the fast-growing sector with caution. 

The Dow Jones Industrial Average (DJI - 31,068.69) added 60 points on Tuesday. The S&P 500 Index (SPX - 3,801.19) added 1.6 point, and the Nasdaq Composite (IXIC - 13,072.43) added on 36 points yesterday. The Cboe Volatility Index (VIX - 23.33) lost 0.8 point during yesterday's trading session.

The excitement continues as investors will unpack both CPI and core CPI data. In addition, the Federal Reserve's latest "Beige Book" report is due out, as is federal budget data.

The following companies are slated to release quarterly earnings reports today, January 13:

IHS Markit, Ltd. (NYSE:INFO -- $86.78) provides critical information, analytics, and solutions for various industries and markets worldwide. IHS Markit will report its fourth-quarter earnings of 2020 before the bell today.

Shaw Communications, Inc. (NYSE:SJR -- $17.75) operates as a connectivity company in North America. Shaw Comms will report its first-quarter earnings before the bell today.

Washington Federal, Inc. (NASDAQ:WAFD -- $28.59) operates as the bank holding company for Washington Federal Bank. Washington Federal will report its first-quarter earnings after the market closes today.

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

KB Home (NYSE:KBH -- $33.71) operates as a homebuilding company in the United States. Earnings per share were down 14.50% over the past year to $1.12, which beat the estimate of $0.93. Revenue of $1,194,000,000 decreased by 23.41% from the same period last year, which beat the estimate of $1,140,000,000.

Looking ahead to tomorrow, investors can look forward to the release of initial and continuing jobless claims, while the import price index is on tap, too.

This is your friendly reminder that the U.S. stock market will be operating on a shortened schedule next week. The Nasdaq and New York Stock Exchange will both be closed on Monday, Jan. 18, in observance of Martin Luther King Jr. Day. A normal trading session will resume on Tuesday, Jan. 19, starting at 9:30 a.m. ET. 

All economic dates listed here are tentative and subject to change.

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