Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Impeachment Repeat, Consumer Prices, Beige Book: 3 Things to Watch

Published 01/12/2021, 03:57 PM
© Reuters.
GM
-
META
-
TWTR
-

By Christiana Sciaudone

Investing.com -- Markets couldn't quite decide which way to go, but with oil prices returning to pre-pandemic highs there was no question that energy's making a comeback. 

Democrats are preparing to possibly impeach President Donald Trump on Wednesday. The native New Yorker and upcoming Florida resident said his remarks in the run-up to the Jan. 6 attack on Capitol Hill were "appropriate." 

The president also hit back at social media companies, several of which have reined in his reach by restricting access to his accounts. Twitter Inc (NYSE:TWTR) and Facebook (NASDAQ:FB) shares were lower.        

In other news, General Motors (NYSE:GM) had a good day, rising to a record high as the automaker unveiled an electric van, not made by Nikola.

Here are three things that may move markets tomorrow:

1. Impeachment part deux

Assuming Vice President Mike Pence doesn't throw President Trump under the 25th Amendment bus, he's looking at a second impeachment process on Wednesday. Trump faces one charge for incitement of insurrection, and the debate on the resolution is expected to begin tomorrow with a vote to follow.

2. Consumer prices and more

Headline inflation for December hits at 8:30 AM ET (1230 GMT). Consensus calls for a 0.4% bump from the previous month's 0.2%. MBA mortgage applications (7:00 AM ET) and the monthly budget statement (2:00 PM ET) are also due.

3. Beige book

The Fed's December Beige Book will give us a look at how regional economies were holding up at the end of the year. Look for commentary on how the continued pandemic and initial vaccine distributions affected outlooks and hiring trends.

 

 

 

 

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.