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Impeachment Repeat, Consumer Prices, Beige Book: 3 Things to Watch

Published 01/12/2021, 03:57 PM
Updated 01/12/2021, 03:57 PM
© Reuters.

By Christiana Sciaudone

Investing.com -- Markets couldn't quite decide which way to go, but with oil prices returning to pre-pandemic highs there was no question that energy's making a comeback. 

Democrats are preparing to possibly impeach President Donald Trump on Wednesday. The native New Yorker and upcoming Florida resident said his remarks in the run-up to the Jan. 6 attack on Capitol Hill were "appropriate." 

The president also hit back at social media companies, several of which have reined in his reach by restricting access to his accounts. Twitter Inc (NYSE:TWTR) and Facebook (NASDAQ:FB) shares were lower.        

In other news, General Motors (NYSE:GM) had a good day, rising to a record high as the automaker unveiled an electric van, not made by Nikola.

Here are three things that may move markets tomorrow:

1. Impeachment part deux

Assuming Vice President Mike Pence doesn't throw President Trump under the 25th Amendment bus, he's looking at a second impeachment process on Wednesday. Trump faces one charge for incitement of insurrection, and the debate on the resolution is expected to begin tomorrow with a vote to follow.

2. Consumer prices and more

Headline inflation for December hits at 8:30 AM ET (1230 GMT). Consensus calls for a 0.4% bump from the previous month's 0.2%. MBA mortgage applications (7:00 AM ET) and the monthly budget statement (2:00 PM ET) are also due.

3. Beige book

The Fed's December Beige Book will give us a look at how regional economies were holding up at the end of the year. Look for commentary on how the continued pandemic and initial vaccine distributions affected outlooks and hiring trends.

 

 

 

 

 

 

Latest comments

Facebook, Twitter and Google stocks were all down ⬇️
I really wonder what were in the minds of those radicals who stormed the Capitol. Did they think there would be no consequences of their actions? I really would like to see Trump go to jail with them.
mindless, inferior, weak minded trump terrorists .... what happened to your traitor-in-chief walking with you cowardly confederate insurrectionists to the Capitol? he left you own your own.... dummies😂😆
...wow. If you can't make an argument...just throw out name calling. Thinking that the persons inside the building should be prosecuted, but what about the people on the street? I guess since they were there in the afternoon not at night with their faces covered... not really looking to cause trouble... like people rioting in summer nights!!
violent is not acceptable in our society. We dont need polical view to justify the our action. Just like the vote to impeach the president is waste of our tax payer money considering the president only have 7 days left. BLM or proTrump rioter are not welcome
The democrats have been inciting riotous behavior all Summer and Fall...now their upset because it was on their turf. What did they expect? Impeachment is because they are scared out of their minds Trump will be back in 2024 and it will be difficult for them to cheat on the grand scale as they did this time.
Yok cant identify one The dema did-Oh wow a football player kneeleed- ftfoh
Smh this country is ***ed up. And the people who thought it was okay for them to storm the capital the way they did, are ***ed up too. Yep i said it.
Were you in Canada all summer?🤣🤣🤣
this impeachment is a sell signal
I closed out all my short term positions till this nonsense is over.
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