Markets are in the GREEN starting out this new trading week as Friday’s bid managed to carry over the weekend! With this good news, many on Wall Street are hopeful for a week of profits in the days ahead. Traders still need to be cautious, however as there’s still plenty of planned events coming that could impact the markets for the better or the worse.
As such, today we take a look at the week ahead and what events we need to be keeping a close eye on including upcoming earnings reports, more news from the FED, some Blue Origin updates and an upcoming vote that could make a serious impact on the markets.
Big News from D.C.
The beginning of the week sees the House of Representatives cutting their recess short and returning to session to begin the $3.5 trillion budget resolution process, which includes $550 billion in new infrastructure spending!
A move on infrastructure would be a big win for the country, but especially for Team Biden as this has been a major project in the early months of the Biden administration.
Though initially taking steps to make the bill as bipartisan as possible, many Republicans on the hill had warned that the bill also included many “hidden” left-leaning expenditures that they considered inappropriate for a bill of this type.
During this time when President Biden seems overwhelmed with controversial issues such as the U.S. retreat from Afghanistan and oncoming heat from his family’s personal lives, a win on infrastructure would be the exact shot of adrenaline the Biden administration needs right now.
Biden Talks Cybersecurity
Speaking of President Biden, the newest Commander in Chief is expected to meet with private sector executives on Wednesday this week to discuss ways to strengthen U.S. cybersecurity protocol as hackers continue with their latest batch of ransomware attacks against the U.S.
According to Check Point Research, incidents of ransomware attacks are estimated to have gone up by 93% each week over the last 12 months. They also note that North America has experienced a 32% surge in ransomware attacks in the last six months alone!
Upcoming Earnings Reports
This week, per usual, sees some major names releasing their latest batch of earnings reports.
To begin the week, big names in retail like Best Buy, Nordstrom and Urban Outfitters are expected to give updates with Dicks Sporting Goods, Intuit, Shoe Carnival and Abercrombie & Fitch joining mid-week.
As we make our way to the latter half of the week, budget friendly companies like Dollar General, Big Lots and Dollar Tree join the ranks of earnings reporters.
Up, Up and Away!
This week is also a momentous occasion for Blue Origin, the Jeff Bezos founded aerospace manufacturer, which is expected to fly its 17th New Shepard mission to date. To date, New Shepard has flown more than 100 payloads to space across 11 flights.
The latest launch is expected to take place at 9:35am ET this Wednesday from a site located in Western Texas and will carry NASA lunar landing technology demonstrated on the exterior of its booster, 18 commercial payloads inside the crew capsule and an art installation on the exterior of the capsule.
FED UPDATES
Finally, this Friday the Federal Reserve Bank of Kansas City will hold its virtual economic policy meeting in Jackson Hole, Wyoming.
A released statement from Kansas City Fed president and CEO Esther George discussing the event going virtual this year noted that “While we are disappointed that health conditions will prevent us from being able to gather in person at the Jackson Lake Lodge this year as we had planned, the safety of our guests and the Tenton County community is our top priority.”
After the event, FED chair Jerome Powell is expected to make a statement on the meeting at 10am ET on the Kansas City FED’s YouTube channel.
Learn More Here…
As you can clearly see, this week has no shortage of events that are certain to impact the markets and your investments. As such, we encourage you to stay on top of the latest market trends and updates as the week goes on.
… And to make sure your trading week starts off on the right foot, we encourage you to join DTI founder and 40-year market veteran Tom Busby below as he dives into his plans for the days ahead.
P.S. – Tom recently released a brand-new book filled with the little-known trading strategies Wall Street elites have been keeping from you for decades.