Post by Dave on Mar 15, 2021 2:02:27 GMT -8
Good Monday morning. We are starting this week with a green pre-market at +$0.82 at the moment. Stay well and enjoy the ride.
What to Expect in the Markets This Week
What to Expect in the Markets This Week
Events Next Week
Sunday, March 14:
Chinese Industrial Production (February).
Monday, March 15:
Markets closed in Mexico for Benito Juarez's Birthday.
Indian Wholesale Price Index (WPI) (February).
Canadian Housing Starts (February).
Canadian Manufacturing Sales (January).
U.S. New York Empire State Manufacturing Index (March).
Tuesday, March 16:
French Consumer Price Index (CPI) (February).
Italian (CPI) (February).
German ZEW Economic Sentiment Index (March).
U.S. Retail Sales (February).
U.S. Industrial Production (February).
Japanese Trade Balance (February).
Wednesday, March 17:
Eurozone CPI (February).
U.S. Building Permits (February).
U.S. Housing Starts (February).
Canadian CPI (February).
U.S. Federal Reserve Federal Open Market Committee Statement, Interest Rate Decision, and Press Conference.
Brazilian Central Bank Interest Rate Decision.
Thursday, March 18:
Eurozone Trade Balance (January).
Bank of England (BoE) Quantitative Easing and Interest Rate Decisions and Announcements.
U.S. Philadelphia Fed Manufacturing Index (March).
Bank of Japanese Press Conference and Interest Rate Decision.
Friday, March 19:
Canadian Retail Sales (January).
German Producer Price Index (PPI)
What Can You Be Expecting from the American Rescue Plan?
The $1.9 trillion American Rescue Plan passed by congress and signed into law last week contains a huge number of different provisions. To help figure out what kind of help you can expect, and when, we broke down some of the major policies here.
The biggest headline grabber in the bill is the $1,400 stimulus check. It is important to note, however, that $1,400 is the maximum that you'll receive if you make less than $75,000 in adjusted gross income based on your most recently filed tax return, the amount is gradually phased out for people with incomes higher than that. Individuals and families will get an additional $1,400 for each dependent they have, and unlike previous checks, this will apply to adult dependents. The payments will start going out this weekend, beginning with direct deposits. Payments sent out as debit cards or checks will be sent out before the end of the month. You can check the status of your payment starting Monday, March 15, at the IRS website here.3
Another major measure is the substantial expansion of the Child Tax Credit. For one year, the child tax credit will temporarily expanded to $3,000 per child ages 6 to 17, and $3,600 per child under 6. In addition the credit will also be fully refundable, meaning that you get the full credit in your tax return, regardless of how much you paid in taxes. In addition, the expanded credit applies to households with no income, whereas before only households with incomes of at least $2,500 could receive the credit. It's expected that the IRS will begin sending advances on the 2021 credit in monthly installments starting as soon as this summer. Under the expected schedule, people will receive half their credit this year, and get the remaining half on their 2021 tax returns. This benefit is also gradually phased out for individuals making over $75,000.
The law also extends the $300 pandemic unemployment assistance (PUA) included in the December stimulus through September 6, 2021. It was previously set to expire in March.5 It also makes the first $10,200 in 2020 unemployment benefits tax free.
Central Bank Announcements
This week, the U.S. Federal Reserve, the Bank of Japan, and the Bank of England announce monetary policy for their respective countries on Wednesday, Thursday, and Thursday, respectively. While none of the banks are expected to change their benchmark interest rates, keep an eye out for whether or not they extend or expand various quantitative easing programs. It may especially behoove investors to keep an eye on the Bank of England which is dealing with the substantial economic disruption caused by the U.K.'s exit from the European single market.
U.S. Retail Sales
This upcoming Tuesday, U.S. retail sales for February are released by the Commerce Department. After a disappointing December, retail sales rebounded in January as stimulus checks from the December stimulus bill seemed to have helped boost spending. However, it remains to be seen if those checks provided enough of a boost to keep retail sales up in February. Vaccinations have been increasing, so the continued march back toward normalcy may be another factor helping beleaguered retailers, but it remains to be seen if it will be enough.
Sunday, March 14:
Chinese Industrial Production (February).
Monday, March 15:
Markets closed in Mexico for Benito Juarez's Birthday.
Indian Wholesale Price Index (WPI) (February).
Canadian Housing Starts (February).
Canadian Manufacturing Sales (January).
U.S. New York Empire State Manufacturing Index (March).
Tuesday, March 16:
French Consumer Price Index (CPI) (February).
Italian (CPI) (February).
German ZEW Economic Sentiment Index (March).
U.S. Retail Sales (February).
U.S. Industrial Production (February).
Japanese Trade Balance (February).
Wednesday, March 17:
Eurozone CPI (February).
U.S. Building Permits (February).
U.S. Housing Starts (February).
Canadian CPI (February).
U.S. Federal Reserve Federal Open Market Committee Statement, Interest Rate Decision, and Press Conference.
Brazilian Central Bank Interest Rate Decision.
Thursday, March 18:
Eurozone Trade Balance (January).
Bank of England (BoE) Quantitative Easing and Interest Rate Decisions and Announcements.
U.S. Philadelphia Fed Manufacturing Index (March).
Bank of Japanese Press Conference and Interest Rate Decision.
Friday, March 19:
Canadian Retail Sales (January).
German Producer Price Index (PPI)
What Can You Be Expecting from the American Rescue Plan?
The $1.9 trillion American Rescue Plan passed by congress and signed into law last week contains a huge number of different provisions. To help figure out what kind of help you can expect, and when, we broke down some of the major policies here.
The biggest headline grabber in the bill is the $1,400 stimulus check. It is important to note, however, that $1,400 is the maximum that you'll receive if you make less than $75,000 in adjusted gross income based on your most recently filed tax return, the amount is gradually phased out for people with incomes higher than that. Individuals and families will get an additional $1,400 for each dependent they have, and unlike previous checks, this will apply to adult dependents. The payments will start going out this weekend, beginning with direct deposits. Payments sent out as debit cards or checks will be sent out before the end of the month. You can check the status of your payment starting Monday, March 15, at the IRS website here.3
Another major measure is the substantial expansion of the Child Tax Credit. For one year, the child tax credit will temporarily expanded to $3,000 per child ages 6 to 17, and $3,600 per child under 6. In addition the credit will also be fully refundable, meaning that you get the full credit in your tax return, regardless of how much you paid in taxes. In addition, the expanded credit applies to households with no income, whereas before only households with incomes of at least $2,500 could receive the credit. It's expected that the IRS will begin sending advances on the 2021 credit in monthly installments starting as soon as this summer. Under the expected schedule, people will receive half their credit this year, and get the remaining half on their 2021 tax returns. This benefit is also gradually phased out for individuals making over $75,000.
The law also extends the $300 pandemic unemployment assistance (PUA) included in the December stimulus through September 6, 2021. It was previously set to expire in March.5 It also makes the first $10,200 in 2020 unemployment benefits tax free.
Central Bank Announcements
This week, the U.S. Federal Reserve, the Bank of Japan, and the Bank of England announce monetary policy for their respective countries on Wednesday, Thursday, and Thursday, respectively. While none of the banks are expected to change their benchmark interest rates, keep an eye out for whether or not they extend or expand various quantitative easing programs. It may especially behoove investors to keep an eye on the Bank of England which is dealing with the substantial economic disruption caused by the U.K.'s exit from the European single market.
U.S. Retail Sales
This upcoming Tuesday, U.S. retail sales for February are released by the Commerce Department. After a disappointing December, retail sales rebounded in January as stimulus checks from the December stimulus bill seemed to have helped boost spending. However, it remains to be seen if those checks provided enough of a boost to keep retail sales up in February. Vaccinations have been increasing, so the continued march back toward normalcy may be another factor helping beleaguered retailers, but it remains to be seen if it will be enough.