Over the weekend, the Senate passed an additional relief and stimulus package with the expectation of being signed into law by mid-March. And, today, the CDC released new guidance for people who have been fully vaccinated against Covid-19. With the positive news on stimulus and vaccine guidance, tourism and travel stocks soared and technology and 'stay-at-home' stocks sank, as investors hope for the economy to reopen and recover.
Economic reports from last week came back mostly positive: •Manufacturing - better than expectation •Construction Spending - better than expectation •Vehicle Sales - worse than expectation •Employment Report (ADP) - worse than expectation
•Employment Situation - better than expectation
•Jobless Claims - better than expectation
•Consumer Credit - better than expectation
This week, economic reports like Small Business Optimism, Job Opening, Jobless Claims and Consumer Sentiment will be watched by investors.