Three things to keep in mind by

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By Christiana Sciaudone – Markets closed slightly lower Thursday amid optimistic (again!) Stimulus. Tonight, President-elect Joe Biden will present a more than $ 1 trillion package to boost the economy. The tax spending package will likely include proposals to boost direct payments to Americans, state and local aid, and funding for vaccine distribution. Investors’ focus will likely be on the size of the package and updates on potential tax increases to offset a $ 1.5 trillion healthcare and infrastructure package expected later this year, Morgan Stanley said (NYSE :). Federal Reserve Chairman Jerome Powell previously reiterated that the central bank would continue to keep the monetary tap open. This morning, the weekly jobs report highlighted the need for more support as jobless claims rose to a more than four-month high of 965,000, above economists’ forecast of 795,000. Here are three things that can move the markets tomorrow: 1. Bank profits are back. It’s that time of year again, when the big banks start to present their results. JPMorgan Chase (NYSE :), Citigroup (NYSE 🙂 and Wells Fargo (NYSE 🙂 rose first. Expect to hear great trade numbers from JPMorgan and Citi to help offset a drop in net income. Comments on the outlook for 2021 will also be of great interest. 2. Retail sales for December will be monitored extensively to see if holiday purchases recovered at the end of the month. The November number plummeted from the previous month, and economists aren’t expecting as long as, tell us if you’ve heard this before, coronavirus cases spiked and lockdowns intensified. The consensus calls for sales to remain unchanged, after the 1.1% decline in the previous month. That is due at 8:30 am ET. 3. Other economic data Empire manufacturing, producer prices and sentiment from the University of Michigan will also be released. The Empire number, which covers the New York region, which has been hard hit, is expected to be 6.0 compared to 4.9 the previous month when it hits 8:30 am ET (1230 GMT). Producer prices (9:15 AM ET) are expected to increase 0.4%. The survey (10 AM ET) is expected to decline modestly to 79.5 from the previous reading of 80.7.

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