Additional stimulus, $900 Billion worth, has excited investors - bringing stocks back to all-time highs. The latest round of relief, signed into law last night, attempts to stabilize the economy as we move into the new year. Along with financial assistance (i.e. unemployment supplements, direct payments and small business loans), additional help will be directed to fighting the pandemic (vaccine distribution, no-cost vaccines, testing & contact tracing efforts). Although, many economists and analysts feel the latest relief package is inadequate, it should still provide a much needed boost to both the economic and health uncertainty that still exists.
Looking at the economics from last week, reports came back mixed:
•Jobless Claims - better than expectation
•Manufacturing (Richmond) - better than expectation
•National Economic Activity - worse than expectation
•Consumer Confidence/Sentiment - worse than expectation
•Home Sales - worse than expectation
In a holiday-shortened week, many investors will be taking a look at things like Investor Confidence, Housing, Manufacturing and Jobless Claims.