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Monday's Market Minute: Beginning Of The End Of 2020

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Monday's Market Minute: Beginning Of The End Of 2020

Let's take a couple minutes to get ahead of the last trading week for the year in terms of economic data and potential market movers. Before we get started, I hope everyone has been able to enjoy the holidays – keep in mind, all work and no play... well, let's just say it's not a good thing.

This week, I think we should expect participation levels to be limited, as we often see less volume in addition to the potential for market swings with less "rhyme and reason" as I like to say. Keep an eye on headline news related to President Trump signing the stimulus bill lawmakers agreed on last week. Also, in terms of data scheduled for release that could move markets, you should have an eye on weekly Jobless Claims, Pending Home Sales, and the EIA inventories. Traders also should closely watch currency markets, as the U.S. Dollar is holding near multi-year lows and Brexit is still on a major factor for markets, so there's potential to see some movement there this week.

Keep an eye on U.S. indices headed into the end of the year, with the well-defined trend up we've seen this year it will be interesting to see if we get see any selling into the end of the year. Finally, keep an eye on Copper. The red metal futures, which have done well this year as prices climbed back above $3.50, are often looked at as an indicator of economic conditions to come. Have a safe and happy New Year, and we’re all looking forward to being back in 2021!

 

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