Tuesday's Market Minute: Watching Banks And Rates

Let’s take a minute to have a look at the week ahead and what you should be dialed in on. This week I expect the focus to shift from economic data (jobs and inflation) to earnings and central bank activity. Now, that’s not to say the ecodata will be ignored, because there are some noteworthy releases.

We have the weekly jobless claims Thursday, Philly Fed, and some housing data to keep an eye on. Investors will we be looking to see if weak labor conditions persist, and if the recent uptick in rates has slowed some of the housing trends we saw throughout 2020 (10-year yields recently spiked back to near 1.25%).

We ended last week with the focus on banks and quarterly results (which seemed somewhat mixed); this week we kick things off with a similar focal point: banks. Tuesday, we’ll hear from Bank of America Corp BAC and Goldman Sachs Group Inc GS before the open, and Netflix Inc NFLX on the close. Later in the week, we have Morgan Stanley MS, Proctor & Gamble Co PG, UnitedHealth Group Inc UNH, and Fastenal to name a few that have potential to move markets and shift investor sentiment.

Last but not least, we’ll hear from the European Central Bank (ECB), the Bank of Japan (BOJ), and the Bank of Canada this week, all of which is a precursor to the FOMC meeting next week. So, as usual, lots to stay dialed in on, and lots of information headed our way with potential to move markets – make it a great trading week.

Photo by Dmitry Demidko on Unsplash