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PPI, Consumers, Yoga Pants: 3 Things to Watch

Published 12/10/2020, 03:48 PM
Updated 12/10/2020, 03:50 PM
© Reuters.
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By Christiana Sciaudone

Investing.com -- Markets fluctuated, often lower, on Thursday as Airbnb Inc (NASDAQ:ABNB) made its striking debut as a $100 billion company.

We are still, still, hearing about stimulus, and look forward to the day we get our payments and move on, as surely do the number of Americans who are unemployed, which increased by more than 850,000 in the week ended Dec. 5.

We may or may not have emergency use authorization very soon as the Federal Drug and Food Administration has started the review of the Pfizer-BioNtech Covid-19 vaccine. 

The imminent vaccine helped energy stocks enjoy some time in the green on higher oil prices. Tech traded lower.   

Finally, we're getting into the December doldrums, where there's very little to look forward to on a Friday. Still, there are a few things that should pull you away from Christmas shopping. 

Here are three things that may move markets tomorrow:

1. PPI 

Producer prices are expected to have risen slightly in November after a similarly modest gain the prior month. A broader economic slowdown due to rising Covid cases is likely to weigh on things. Economists expect a 0.2% gain when the number comes out at 8:30 AM ET (1230 GMT).

2. Sentiment

The virus resurgence is also expected to bring down consumer sentiment. Consensus has the University of Michigan's preliminary read for December coming in at 76.5, compared to November's final print of 76.9. That's due at 10:30 AM ET (1430 GMT).

3. Earnings

We're cheating, slightly. There are no noteworthy companies scheduled to report, but watch shares of Oracle (NYSE:ORCL) and Lululemon Athletica Inc (NASDAQ:LULU) to react to results due after the close on Thursday.

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