Here’s what you need to know to navigate the markets today.
• Investors raised stock futures on Sunday night ahead of the first day of trading following the Senate’s passage of the $ 1.9 trillion Covid-19 relief bill. Dow Jones Industrial Average futures gained 225 points, or 0.87%, while S&P 500 and Nasdaq Composite futures were up 0.6%. Next week’s earnings reports include XPeng,
Casey’s General Stores,
on Monday, followed by
Dick sporting goods,
H & R block,
will post earnings on Wednesday.
announce the results on Thursday, and
Northern oil and gas
report on Friday. The National Federation of Independent Business publishes its Small Business Optimism Index for February on Tuesday, and the consumer price index from the Bureau of Labor Statistics comes out Wednesday.
• Americans will begin receiving stimulus controls this month. “This plan will have the checks going out the door, starting this month, for the American people who so desperately need help,” President Joe Biden said Saturday, adding that “more than 85% of American households they will receive direct payments of $ 1,400 per person. “Single persons with an adjusted gross income of $ 75,000 or less, heads of household with an income of up to $ 112,500, and married couples filing jointly with an income of up to $ 150,000 will receive the full amount per person as long as have a security number.
Before payments are made, the House of Representatives must vote on the Senate version of the bill, which it plans to do on Tuesday. So Biden needs to sign the bill. It will likely take another two weeks for payments to start pouring into bank accounts, Garrett Watson, a senior policy analyst at the Tax Foundation, told CNBC, based on the timing of previous stimulus checks. People who have already provided their direct deposit information to the Internal Revenue Service will likely receive payments first, as the funds will be transferred electronically, while others will have to wait to receive paper checks or debit cards in the mail.
• Biden signed an executive order expanding access to voting on Sunday. The order requires federal agencies to submit proposals to promote voter registration and participation within the next 200 days. “All eligible voters should be able to vote and have that vote counted,” Biden said before signing at a virtual event commemorating “Bloody Sunday” in 1965, during which police beat up black protesters demanding the right to vote. vote as they crossed the Edmund Pettus Bridge in Selma, Alabama. “I also urge Congress to fully restore the Voting Rights Act, named after John Lewis,” added Biden.
• The world economy is expected to grow 6% in 2021, the fastest growth in nearly half a century, Oxford Economics said. If the US and China grow at the same rate, the US will make a greater contribution to the recovery, as the US economy is about a third larger than China’s overall, The Wall Street reported. Journal.
It has estimated that the US economy will grow 7% this year after contracting 3.5% last year, while China will grow 8% in 2021 after growing 2.3% in 2020.
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