- The US stock markets are closed on Monday due to the Martin Luthar King Junior holiday.
- Last Friday’s low at 3741 was useful support here, as was the 21 DMA futures index at 3740.
- Earnings, Yellen’s testimony, Biden’s inauguration, the pandemic, and European PMIs will be the topics to follow.
The US stock markets are closed on Monday due to the Martin Luthar King holiday. However, stock index futures are still traded; The S&P 500 futures have gradually returned to positive territory on the day and are now trading around 3770 with a rise of around 0.2% daily, having reached lows at 3740 in the middle of the Asian session this Monday.
Last Friday’s low at 3741 was useful support, as was the index’s 21-day moving average (DMA) of futures, which is currently just below the 3740 mark; the DMA of 21 has acted as a solid level of support since early November, before positive news about vaccines sent risk assets into full blast.
This week is the first full week of the 2021 earnings season. But aside from the fundamentals of individual stocks, traders will also be keeping an eye on macroeconomic and political issues for indications on where the S&P 500 and others will head. Important indices of the United States. Janet Yellen, the incoming Secretary of the Treasury, will speak on Tuesday, and Joe Biden will assume the presidency of the United States in a small-scale event (given the security risks and the pandemic) on Wednesday. The most important words that could come out of everyone’s mouth, when it comes to investors, would be the prospects for fiscal stimulus.
Aside from domestic politics and profits, investors will also continue to watch the state of the global pandemic (a lot of attention is currently being paid to the outbreak in China that has driven 29 million people in the country back into lockdown). The Thursday ECB meeting should be boring since the bank acted decisively last month, but the January European PMI they should provide a boost to the European equity markets (and by virtue, the American ones as well).
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
