With the Senate voting over the weekend to pass a spending bill which is now headed to the U.S. House of Representatives, and U.S.-China relations front and center, keep an eye on headline news.
In terms of earnings, we have Take-Two TTWO, Norwegian Cruise Line NCLH, Ralph Lauren RL, Hilton HLT, Roblox RBLX, Wynn Resorts WYNN, Wix.com WIX, Wendy’s WEN, Walt Disney DIS, Sonos SONO, and Rivian RIVN, to name a few. So far, 75% of the SP500 companies reporting results have surprised to the upside. We’ll also hear from OPEC later in the week when they provide their monthly oil report.
We have some data due out that could move markets: CPI, PPI, a couple of Fed speakers, and Consumer Sentiment capping the week on Friday.
Lastly, the S&P 500, while some 500 points off the June low, still has yet to take out the June high up around 4,200. In terms of hurdles for the bulls to get above, this is the next key level to watch if the move off the June low continues this week.
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