Post by Dave on Feb 15, 2021 2:31:35 GMT -8
Good morning, it’s Presidents Day.
What to Expect in the Markets This Week
What to Expect in the Markets This Week
Day traders moved this week from Gamestop to marijuana stocks which leapt over 40% judging by the benchmark marijuana ETF, MJ. However, as traders moved on, the ETF fell sharply later in the week to end the week up only 5.1%. The S&P 500 finished the week up 1.3% with 8 of the S&P's 11 sectors finishing the week with positive total returns. Energy led the way with its benchmark ETF, XLE, returning 5.2% for the week. Utilities lagged the most, with the benchmark XLU ETF returning -1.53% for the week.
Monday, February. 15:
Market Holiday in U.S. for President's Day. Market Holiday in Mainland China for Spring Festival. Market Holiday in Hong Kong for New Year's Day. Market Holiday in Canada for Family Day. Market Holiday in Brazil for Carnival.
Indian Wholesale Price Index (WPI) (January)
Eurozone Industrial Production (December)
Eurozone Trade Balance (December)
Tuesday, February. 16:
Markets Closed in China and Brazil for Spring Festival and Carnival, Respectively.
German ZEW Current Conditions and Economic Sentiment Index (February)
Eurozone Preliminary GDP (Q4)
Canadian Housing Starts (January)
U.S. New York Empire State Manufacturing Index (February)
Japanese Trade Balance (January)
Wednesday, February. 17:
Markets Closed in China and Brazil for Spring Festival and Ash Wednesday Respectively.
U.K. Consumer Price Index (CPI) (January)
European Central Bank (ECB) Monetary Policy Statement.
U.S. Retail Sales (January)
U.S. Producer Price Index (PPI) (January)
U.S. Industrial Production (January)
Canadian CPI (January)
U.S. Business Inventories (December)
U.S. Federal Open Markets Committee (FOMC) Meeting Minutes Released
Thursday, February. 18:
Walmart (WMT) and Roku (ROKU) Earnings Released.
ECB Publishes Account of Monetary Policy Meeting
U.S. Building Permits (January)
U.S. Housing Starts (January)
U.S. Philadelphia Federal Reserve Manufacturing Index (February)
Japanese National Core CPI (January)
Friday, February. 19:
U.S. Existing Home Sales (January)
U.S. Manufacturing and Services Purchasing Managers' Indexes (PMIs) (February)
U.K. Retail Sales (January)
German PPI (January)
French CPI (January)
German Manufacturing and Services PMIs (February)
French Manufacturing and Services PMIs (February)
Italian Manufacturing and Services PMIs (February)
Eurozone Manufacturing and Services PMIs (February)
Canadian Retail Sales (December)
Roku and Walmart Earnings
Roku and Walmart report earnings this upcoming Thursday. Both companies have been well placed to benefit from the pandemic. With everyone stuck indoors, people have had lots of time to watch TV, helping Roku beat earnings last quarter substantially. Walmart, being a purveyor of essential goods like groceries, has been able to remain open during the pandemic. This, in addition to its efforts at expanding its ecommerce capabilities, have helped it to weather the virus better than many retailers.
American Rescue Plan: Relief or Stimulus?
There's been considerable debate over the size of the current COVID-19 spending bill making its way through the House. Much of the debate over the bill's size revolves around whether you think it's a stimulus bill, meant to close the output gap in the economy, or a disaster relief bill, meant to minimize death and suffering caused by the virus. Former Treasury secretary Larry Summers argues that the bill is the former, saying that the bill is too large relative to the output gap in the economy, which the Congressional Budget Office estimates is about $380 billion for the rest of 2021. That implies that the bill would be too large as a traditional stimulus.
However, Paul Krugman, Nobel-prize winning economist and columnist for the New York Times, has responded to Summers, saying that the bill should be thought of as disaster relief rather than economic stimulus. Krugman says that thinking of it in terms of the output gap at all is backwards. The goal of the bill is to ensure that people are able to meet the basic needs of survival, schools can reopen, and state and local governments can maintain vital services through the pandemic to minimize the suffering and death caused by the COVID-19. Like providing disaster relief after a hurricane, it may be stimulative to the economy, but the stimulus isn't the goal, saving lives is.American Rescue Plan: Relief or Stimulus?
Market Holiday in U.S. for President's Day. Market Holiday in Mainland China for Spring Festival. Market Holiday in Hong Kong for New Year's Day. Market Holiday in Canada for Family Day. Market Holiday in Brazil for Carnival.
Indian Wholesale Price Index (WPI) (January)
Eurozone Industrial Production (December)
Eurozone Trade Balance (December)
Tuesday, February. 16:
Markets Closed in China and Brazil for Spring Festival and Carnival, Respectively.
German ZEW Current Conditions and Economic Sentiment Index (February)
Eurozone Preliminary GDP (Q4)
Canadian Housing Starts (January)
U.S. New York Empire State Manufacturing Index (February)
Japanese Trade Balance (January)
Wednesday, February. 17:
Markets Closed in China and Brazil for Spring Festival and Ash Wednesday Respectively.
U.K. Consumer Price Index (CPI) (January)
European Central Bank (ECB) Monetary Policy Statement.
U.S. Retail Sales (January)
U.S. Producer Price Index (PPI) (January)
U.S. Industrial Production (January)
Canadian CPI (January)
U.S. Business Inventories (December)
U.S. Federal Open Markets Committee (FOMC) Meeting Minutes Released
Thursday, February. 18:
Walmart (WMT) and Roku (ROKU) Earnings Released.
ECB Publishes Account of Monetary Policy Meeting
U.S. Building Permits (January)
U.S. Housing Starts (January)
U.S. Philadelphia Federal Reserve Manufacturing Index (February)
Japanese National Core CPI (January)
Friday, February. 19:
U.S. Existing Home Sales (January)
U.S. Manufacturing and Services Purchasing Managers' Indexes (PMIs) (February)
U.K. Retail Sales (January)
German PPI (January)
French CPI (January)
German Manufacturing and Services PMIs (February)
French Manufacturing and Services PMIs (February)
Italian Manufacturing and Services PMIs (February)
Eurozone Manufacturing and Services PMIs (February)
Canadian Retail Sales (December)
Roku and Walmart Earnings
Roku and Walmart report earnings this upcoming Thursday. Both companies have been well placed to benefit from the pandemic. With everyone stuck indoors, people have had lots of time to watch TV, helping Roku beat earnings last quarter substantially. Walmart, being a purveyor of essential goods like groceries, has been able to remain open during the pandemic. This, in addition to its efforts at expanding its ecommerce capabilities, have helped it to weather the virus better than many retailers.
American Rescue Plan: Relief or Stimulus?
There's been considerable debate over the size of the current COVID-19 spending bill making its way through the House. Much of the debate over the bill's size revolves around whether you think it's a stimulus bill, meant to close the output gap in the economy, or a disaster relief bill, meant to minimize death and suffering caused by the virus. Former Treasury secretary Larry Summers argues that the bill is the former, saying that the bill is too large relative to the output gap in the economy, which the Congressional Budget Office estimates is about $380 billion for the rest of 2021. That implies that the bill would be too large as a traditional stimulus.
However, Paul Krugman, Nobel-prize winning economist and columnist for the New York Times, has responded to Summers, saying that the bill should be thought of as disaster relief rather than economic stimulus. Krugman says that thinking of it in terms of the output gap at all is backwards. The goal of the bill is to ensure that people are able to meet the basic needs of survival, schools can reopen, and state and local governments can maintain vital services through the pandemic to minimize the suffering and death caused by the COVID-19. Like providing disaster relief after a hurricane, it may be stimulative to the economy, but the stimulus isn't the goal, saving lives is.American Rescue Plan: Relief or Stimulus?