5 things to know before the stock market opens Wednesday, Dec. 15
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These are the top news, trends, and analyses that traders need in order to get started with trading.
1. Wall Street seems steady ahead of Fed pivot
Traders in New York City work at the New York Stock Exchange (NYSE), on the 13th of December 2021.
Spencer Platt | Getty Images
2. The retail sales are holding steady despite the higher prices
On Saturday, December 4, 2021, shoppers gathered at King of Prussia Mall in King of Prussia (Pennsylvania)
Bloomberg | Bloomberg | Getty Images
Faced with higher prices, government’s 8:30 a.m. The ET November Retail Sales Report is anticipated to show 0.8% month-over-month growth compared with October’s 1.7% jump. The August and September increases would be roughly equaled by the estimated monthly advance. Retail sales trends, adjusted for seasonal variation but not inflation, show that consumers will pay more for holiday shopping.
3. Fed could ease the way to rate increases by accelerating its taper.
Jerome Powell, Chairman of the U.S. Federal Reserve, spoke during Wednesday’s hearing before the House Financial Committee in Washington, D.C., December 1, 2021.
Getty Images| Bloomberg | Getty Images
As central bankers head into Wednesday’s session, retail sales will be the final major economic report. final day of their two-day December meeting. Expected Fed accelerated tapering may set the scene for the Fed’s first increase in near-zero Covid-era interest rates. A new definition of inflation by the Fed is expected to emerge. It will acknowledge that inflation is no longer considered temporary. Markets will be looking out for clues about when the Fed may begin shrinking its $8.7 billion balance sheet.
4. Biden is expected to sign the debt ceiling raise before the deadline
WASHINGTON DC, DECEMBER 10, 2018: U.S. President Joe Biden gives closing remarks at the White House’s virtual Summit For Democracy, which took place in Washington DC’s Eisenhower Executive Office Building, on December 10, 2021.
Chip Somodevilla | Getty Images News | Getty Images
House Democrats passed a debt ceiling increaseWith one Republican vote, send the measure to President Joe BidenIt is expected to be signed by him on Wednesday morning. The Treasury Department predicted that it would run out of tools to pay its bills. He is likely to sign the document just hours after he has forecasted it. That outcome would cause a major economic downturn in the United States. Tuesday afternoon, the Senate was also controlled by Democrats and approved the raising of the national borrowing limit. The resolution, once signed, would increase the debt ceiling to $2.5 trillion. This is likely enough for next year’s midterm elections.
5. CDC states that delta is still the dominant species, but that omicrons are spreading rapidly
Atlanta is the headquarters of Centers for Disease Control and Prevention.
Tami Chappell – Reuters| Reuters
About a month ago the Covid omicron variation was first discovered in Southern Africa. now makes upThe Centers for Disease Control and Prevention data shows that only about 3% cases have been sequenced in the United States. According to the CDC, delta is the predominant strain in the U.S. but that the highly mutated omicron variety is growing rapidly. A response to Washington Post reportConcerning a “massive wave of omicron infection” as early as January, the CDC stated in a statement the following: The scenario was one among many discussed during a regular meeting with health officials.
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