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May 2, 2023

Dynasty Financial Partners Launches Investment Bank

Dynasty Monetary Partners declared the launch of Dynasty Investment Lender on Monday.

Led by Harris Baltch, Dynasty IB will leverage the partnership platform’s knowledge in mergers and acquisitions, alongside a handful of money procedures, to present invest in- and sell-aspect information, follow management knowledge, and funding for wealth management companies and relevant entities within and outside the Dynasty network.

“Given the sum of fragmentation and some of the organic headwinds going on in our field with regard to getting older advisors and heaps of different styles of capital sources coming in, there actually is a scarcity of excellent suggestions,” claimed Baltch.

Noting the Dynasty network supports close to $80 billion in assets and has assisted husband or wife firms entire 30 offers considering the fact that 2018, he mentioned, “It just manufactured feeling for us to leverage our functionality externally to support and provide other corporations that will need strategic guidance.”

Baltch also pointed out that presenting these services outside the house Dynasty’s current community is possible to expose companion corporations to much more possibilities. One more advantage, he extra, is the means of investment decision financial institutions to closely keep an eye on M&A transactions.

“Our network firms are going to get accessibility and exposure—on a no-title foundation, of course—to far better information and facts stream,” he reported. “A ton of [transaction] data just isn’t disclosed publicly. Our purchasers are now likely to advantage from greater up-to-date information on issues like how to increase offer constructions as they assume about M&A, and when they are prepared to have some form of liquidity celebration, they’ll be in a position to leverage our experience to both consider an fairness investment decision from a 3rd-bash organization or possibly from us.”

In addition to providing tips all over offer framework for potential buyers and sellers, Dynasty IB will help with valuation, succession scheduling, recapitalization, changeover and integration. The bank also features bespoke strategic scheduling and will source eye-catching deals for consumers.

On the cash facet, Dynasty IB provides a few selections: a senior credit card debt term bank loan solution offered to external purchasers and spouse companies, as well as minority fairness options and a income participation option offered only to Dynasty companions.

“We’ll usually be a solutions-led, engineering-led business to start with, with cash as an lodging to our clientele,” reported Baltch. “Should they select, right after speaking with us, that they want to acquire some chips off the table and be a part of the Dynasty community, us coming in and purchasing a tiny proportion of revenues or earning a minority fairness expenditure is unquestionably not off the desk.”

Minority investments from Schwab and Abry Cash, announced late previous calendar year, will assist to aid the new enterprise, but Baltch stated Dynasty has traditionally funded capital solutions with balance sheet income flow.

“With our deep expertise and several years of practical experience working with hundreds of main advisors, we are properly-positioned to supply RIAs a large vary of financial investment banking capabilities in this ever-intricate market place,” Dynasty CEO Shirl Penney reported in a statement.

The 9-person financial investment banking team is drawn from non-public equity and bulge-bracket firms, as effectively as Dynasty’s personal M&A workforce, and signifies more than 100 decades of sector practical experience, like a lot more than 50 in investment decision banking.

“We have a deep bench of relationships across the consumer and trader community,” mentioned Baltch. “And now we can leverage that as we choose on mandates outside the house of the Dynasty network to aid attain the strategic goals of some of the RIAs that are out there.”

There are presently 50 lover companies and additional than 300 advisors in the Dynasty network, representing some $75 billion in belongings.

April 16, 2023

Rivian Automotive Downgraded by Investment Analysts due to Disappointing Financial Results

April 15, 2023 – Rivian Automotive (NASDAQ:RIVN), the electric auto producer, has been downgraded by financial commitment analysts Piper Sandler from an “overweight” rating to a “neutral” rating. The report was issued on Friday and has raised some eyebrows in the investment decision neighborhood.

This comes after Rivian Automotive printed its earnings final results for the past quarter of February 28th. The figures disclosed that the enterprise confirmed ($1.73) EPS for the quarter, beating the consensus estimate of ($1.89) by $.16. Even though this appears spectacular at first look, more examination demonstrates that Rivian Automotive had a adverse return on fairness of 37.49{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a negative internet margin of 407.24{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

The business’s quarterly earnings was $663 million in the course of the quarter, which was considerably below analysts’ approximated profits of $729.47 million. It must be mentioned that in the course of the same interval in the prior year, the organization attained ($2.43) earnings for every share, indicating some improvement.

In spite of constructive movements in direction of profitability, it appears Rivian however has a way to go prior to buyers are persuaded to fee them “overweight.” Analysts predict that Rivian Automotive will post a disappointing -5.52 EPS for this economic 12 months substantially even worse than previously predicted.

Rivian Automotive styles, develops, manufactures, and sells electrical cars, specially five-passenger pickup vehicles and sports utility vehicles called Experience Vehicles®, emphasizing ease of use and sustainability features with up to 400 miles of driving range for EV motorists.

Just one saving grace could be partnering with Amazon.com to manufacture an electric Supply Van on their platform built explicitly for delivery use by Amazon.com personnel straight targeting fleet functions focused in towns wherever diesel vans normally supply deals through neighborhoods generating air pollution related to minimizing carbon emissions into our environment remains very important.

Rivian is indeed working in an revolutionary market where by technologies is vital to development consequently, there’s continue to a lot opportunity for expansion in the potential. The enterprise have to tweak its strategies, specifically about pricing, enlargement of product offerings, and perhaps a rebranding that would bring in a much more substantial market place share. All matters thought of, Rivian Automotive can bounce back again with sound management and innovation in direction of creating sustainable, inexpensive cars for all.

Offer-facet analysts reduced goal prices for Rivian Automotive amidst disappointing fiscal overall performance

Rivian Automotive, Inc, the electric powered motor vehicle maker, has recently been in the information following numerous promote-aspect analysts decreased their focus on rates for the stock. The decreased targets arrive after Rivian Automotive failed to meet marketplace expectations and suffered a sizeable correction to the conclusion of Q1. Mizuho slash their focus on price on March 9th from $37.00 to $35.00 and set a “buy” rating for the firm. Cantor Fitzgerald also slashed its forecast from $30.00 to $27.00 while assigning an “overweight” score on March 1st.

Evercore ISI and Royal Financial institution of Canada joined in on March 6th and 1st respectively, reducing their cost targets from $35.00 to $25.00 and dropping their concentrate on price tag from $50.00 to $28.00 but nonetheless maintaining an outperform score for Rivian’s shares.

Wells Fargo & Business gave a important downturned prediction by lowering their focus on value on February 24th from $32.00 to just $18. Rivian’s shares opened at just about fifty percent of that worth the inventory opened at only $14.37, down from a twelve thirty day period high of $41.90, which was recorded previous year.

Moreover, Bloomberg.com described that two expenditure analysts have assigned a offer rating even though five many others rated Rivian Automotive as higher than regular or usual about its functionalities while 13 investment decision analysts rate it as acquire stock as a result we can say that inventory has a consensus score of “Moderate Buy” and an ordinary rate concentrate on of $32.50.

Rivian Automotive has launched 5-passenger decide-up vans along with athletics utility motor vehicles which are bought immediately to buyers throughout each business and purchaser markets by leveraging its hottest release of the Rivian Commercial Motor vehicle system in collaboration with Amazon.com.

In recent insider transactions at Riven Automotive documented via SEC filings, CAO Jeff Baker and CFO Claire Mcdonough each marketed important portions of shares last February. Also, 2.34{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by company insiders.

In spite of the standard downturn of Rivian Automotive’s stock over Q1 2023, some hedge resources just lately improved their stakes in the electric auto firm. Gould Money LLC lifted its position by 175.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, while Clearview Wealth Advisors LLC and WFA of San Diego LLC all opened new positions in the enterprise well worth $27,000 and $28,000 respectively all through Q4 2022. Resurgent Money Advisors LLC also acquired a new stake in Rivian Automotive truly worth roughly $30,000 last quarter.

As for the company’s economical performance more than the final calendar year, it delivered reduce than predicted benefits that prompted numerous promote-facet analyst residences to lower their concentrate on price ranges on Rivian’s inventory thanks to this disappointing efficiency predominantly resulting in Rivian Automotive’s correction over Q1 2023 analysts are now contending for variations within just oversupply and competition in EV markets in fact building anticipations tricky to sustain for the marketplace.

April 9, 2023

VTEX Earns Moderate Buy Rating from Financial Analysts, Represents Exciting Investment Opportunity

April 8, 2023 – New York Town – VTEX (NYSE:VTEX), a primary e-commerce answers service provider, has been considered deserving of a “Moderate Buy” ranking by ten esteemed economic analysts. As reported by Bloomberg, the consensus score implies that the organization is anticipated to exhibit bullish growth opportunity in the close to phrase.

Among the 10 analysts masking VTEX, six have recommended purchasing shares in the business though four have urged warning and suggested a keep suggestion. However, centered on their evaluation of out there industry data, these professionals unanimously agree that VTEX is an desirable expenditure chance in today’s speedy-growing digital overall economy.

The stock value goal set by these professionals is also deserving of observe. Based mostly on research and scientific tests conducted all through the earlier yr, they imagine that VTEX’s share price will head towards $5.69 inside of a yr. This prediction is derived from exhaustive analyses carried out on a variety of components these types of as latest marketplace traits and economic indicators.

Lots of investors are energized about this information due to the fact it suggests that now may be an opportune time to invest in VTEX. With promising prospects for limited-term earnings as properly as long-term development probable, this organization offers an remarkable prospect for people today searching to diversify their portfolio with substantial-growth stocks.

In summary, it would seem that VTEX may possibly be adhering to fit with quite a few other know-how firms that have seasoned exponential expansion about the yrs. This “Moderate Buy” score highlights its potential and ought to make it an appealing expense selection for investors hunting to earnings off this flourishing business with a lot less chance than some riskier investments available on the current market.

VTEX: A Promising Resolution for Organization Makes Navigating the Digital Landscape

As the digital landscape carries on to grow and evolve, organizations of all dimensions are trying to find revolutionary alternatives to keep forward of the curve. A person these solution is VTEX, a foremost software package-as-a-provider (SaaS) digital commerce platform for enterprise brand names and merchants.

But just before you look at investing in VTEX, it’s important to fully grasp how the firm has been rated by sector analysts in modern months. Piper Sandler issued an “overweight” ranking and established a $5.00 rate aim on VTEX shares on March 3rd, highlighting the company’s potential for advancement. Likewise, DA Davidson started coverage on VTEX just five times later on and issued a “buy” ranking with a $5.00 focus on cost.

Even so, Morgan Stanley downgraded their score on VTEX from “overweight” to “equal weight” on December 19th of previous calendar year, indicating that some traders may have concerns about the company’s foreseeable future prospects.

Even with these mixed scores from analysts, there are some important indicators that recommend VTEX could be poised for accomplishment. Shares of NYSE:VTEX opened at $3.71 on April 8th with a market place capitalization of $701.15 million. While this determine unquestionably isn’t insignificant, it is well worth noting that organizations such as Amazon and Alibaba have current market caps in the hundreds of billions.

One particular component that may possibly add to VTEX’s good results is its ability to deliver buyers with a in depth suite of tools intended to assist their commerce method. This features making on the web retailers, running orders across channels, and building marketplaces exactly where 3rd-celebration suppliers can promote their items.

When the SaaS place is notoriously aggressive, VTEX appears well-geared up to stand out many thanks to its robust system and determination to helping company brands reach their plans. And with marketplaces continuing to change towards e-commerce methods in the wake of COVID-19 pandemic-relevant shutdowns, now may be an ideal time for investors to consider a closer appear at VTEX and its prospective for progress in the decades to occur.

March 25, 2023

Iran’s finance minister highlights surge in investment from Russia

Russia has turn out to be the major foreign trader in Iran more than the past year, in accordance to Iranian officials, as the two greatly sanctioned nations have stepped up co-procedure because Russian forces invaded Ukraine.

Ehsan Khandouzi, Iran’s finance minister, stated Russia had invested $2.76bn in the country all through the latest economic calendar year that finished this 7 days, citing assignments in the industrial, mining and transport sectors.

“We determine our relations with Russia as strategic and we are doing the job with each other in many features, in particular economic relations,” Khandouzi explained to the Economic Moments. “China and Russia are our two key economic partners [and] Iran is going to increase its relations with them as a result of utilizing strategic agreements.”

His feedback underscore how Tehran and Moscow have ramped up their ties considering that the west imposed waves of sanctions on Russia after President Vladimir Putin’s invasion of Ukraine a yr in the past.

Russian business enterprise delegations have visited the Islamic republic trying to get promotions and ideas on how to stay away from sanctions, when Iran has been eager to build new trade interactions to bolster its personal sanctioned economic system.

Russian leader Vladimir Putin meets Ayatollah Ali Khamenei, centre, and Iran’s president Ebrahim Raisi in Tehran last summer — Russian chief Vladimir Putin fulfills Ayatollah Ali Khamenei, centre, and Iran’s president Ebrahim Raisi, right, in Tehran final summer months © SalamPix/ABACA/Reuters

The US and Europe have accused Tehran of promoting armed drones to Moscow that have been deployed in opposition to Ukrainian targets. Iran denies its drones are employed in the war. Khandouzi stated the Ukraine conflict was “unfortunate” for Iran, but did not respond when asked if Tehran received revenues from arms revenue to Russia.

The Iranian and Russian central banks signed a deal in January to link their interbank interaction units in a bid to boost bilateral trade. “Russia and some other international locations are eager to use mechanisms this kind of as mutual monetary agreements or trade-primarily based swaps. We have negotiated not only with Russia but also with China and other companions, together with Turkey, in this regard,” Khandouzi stated. “Technically talking, this financial network is in a far better problem amongst Iran and Russia than others.”

Analysts are sceptical about how far the two can build trade as each have commodity-primarily based economies generating similar items. But a western diplomat stated the panic was that “it’s a dynamic that can become self-sustained”.

Iran has endured many years of sanctions, and has been slice off from the international fiscal procedure considering that previous US president Donald Trump withdrew from the 2015 nuclear accord and introduced new curbs against the republic.

This has further stymied Tehran’s means to catch the attention of foreign financial investment — the next-premier international financial commitment just after Russia was from neighbouring Afghanistan, with £256mn. Chinese investment was just $131mn, powering Iraq and the United Arab Emirates, underscoring how it is not just western companies that are becoming set off performing business in Iran.

Russia accounted for two-thirds of the whole overseas direct financial investment of about $4.2bn in Iran this economical calendar year, according to finance ministry facts. Iran attracted FDI of just $1.45bn in 2021, in accordance to UN trade knowledge.

President Ebrahim Raisi’s hardline government has prioritised developing regional and Asian trade interactions given that having business in 2021 in an effort to counter the effect of sanctions. A Chinese-brokered deal signed this thirty day period will restore diplomatic ties in between Iran and rival Saudi Arabia, seven a long time soon after they severed relations.

Khandouzi claimed Iran had last thirty day period obtained its highest level of oil exports for at least two a long time, overtaking the earlier significant of 1.3mn barrels a day, even with US sanctions.

He reported non-oil exports of $53bn had been also 12 per cent higher in the initial 11 months of this yr than the very same interval the previous 12 months. Imports above the very same time period have been $60bn, which combined with the export data confirmed “Iran’s overall economy simply cannot be isolated”, he additional.

Nevertheless the authorities has struggled to consist of the financial malaise that has gripped the republic, with inflation soaring better than 47 for each cent and the rial down 60 for each cent below Raisi’s look at. Iranian economists blame the authorities for fuelling inflation by excessively printing dollars.

Iranians shopping in downtown Tehran — Men and women buying in downtown Tehran. The government’s largest challenge is easing the economic stress on ordinary Iranians © Vahid Salemi/AP

Tehran in December replaced the central bank governor who had been in the write-up for just 15 months as the countrywide forex slid to report lows against the US dollar, though the regime battled months-long nationwide protests.

Khandouzi defended the government’s record and stated it planned to reform the central bank, which would be “held accountable to meet up with the inflation targets”. It would also be offered the “necessary authority to manage the processes which make money provide,” he reported.

“We also managed to lessen the dollars provide advancement charge, which was 39 for each cent in the past Iranian 12 months. By the conclude of this monetary year, it is projected to be 30 per cent,” he included. “We are established to lower the inflation level.”

Khandouzi claimed the authorities had boosted tax selection and clamped down on evasion to maximize non-oil income, whilst at the exact time cutting down company tax by 5 proportion points.

Still the government’s most significant challenge is easing the financial tension on regular Iranians, with analysts warning that economic grievances are a ticking bomb amid widespread general public anger with the routine.

“When the state is battling with economic issues, officers certainly make extra initiatives than ahead of and invest far more time serving people today,” Khandouzi stated.

February 23, 2023

Mormon church fined over scheme to hide $32 billion investment fund behind shell companies

The Church of Jesus Christ of Latter-day Saints and a nonprofit entity that it controlled have been fined $5 million by the Securities and Exchange Fee about accusations that the spiritual institution failed to adequately disclose its financial commitment holdings.

In an buy unveiled Tuesday, the SEC alleged that the church illicitly hid its investments and their administration guiding various shell firms from 1997 to 2019. In doing so, it failed to disclose the dimension of the church’s equity portfolio to the SEC and the community.

The church was concerned that disclosure of the belongings in the name of the nonprofit entity, named Ensign Peak Advisors, which manages the church’s investments, would direct to negative effects in gentle of the size of the church’s portfolio, the SEC explained.

The allegations of the illicit shell enterprise construction initially emerged in 2018, when a group formerly known as MormonLeaks — now recognised as the Fact and Transparency Basis — claimed that yr the extent of the church’s investments had reached $32 billion.

The adhering to year, a whistleblower filed a complaint to the Inside Earnings Provider, in accordance to a 2020 Wall Avenue Journal report that yr, the newspaper reported the church’s holdings had developed to $100 billion.

“For extra than 50 {21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} a century, the Mormon Church quietly developed just one of the world’s major financial investment resources,” the Journal said. “Almost no one outdoors the church understood about it.”

The SEC accused the church Tuesday of heading to “fantastic lengths” to prevent disclosing its investments and, in accomplishing so, “depriving the fee and the investing community of exact industry data.”

“The need to file well timed and exact information on Sorts 13F applies to all institutional financial commitment managers, like non-financial gain and charitable organizations,” claimed Gurbir S. Grewal, director of the SEC’s Division of Enforcement, in a assertion.

In a statement, the church claimed that, starting up in 2000, its Ensign Peak financial commitment management team “obtained and relied on legal counsel regarding how to comply with its reporting obligations even though making an attempt to manage the privateness of the portfolio.”

As a consequence, it said, Ensign Peak founded “separate providers” that every single filed necessary disclosure forms, as an alternative of a one aggregated filing.

“Ensign Peak and the Church consider that all securities needed to be documented have been incorporated in the filings by the separate corporations,” the church said in its statement.

Following the SEC expressed worry about Ensign Peak’s reporting technique in June 2019, the church claimed, Ensign Peak “altered its technique and commenced filing a single aggregated report.”

Due to the fact that time, the church explained, it experienced submitted 13 quarterly stories in accordance with SEC requirements.

“This settlement relates to how the kinds were filed beforehand,” the church explained. “Ensign Peak and the Church have cooperated with the governing administration in excess of a time period of time as we sought resolution. We affirm our motivation to comply with the regulation, regret errors designed, and now take into consideration this subject shut.”

January 20, 2023

The 2023 investment narrative is already diverging from 2022

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Thursday, January 19, 2023

Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with the Yahoo Finance App.

Despite Wednesday’s losses in the major U.S. indexes, stocks are flying out of the gate in 2023.

The Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) are having their best start to a year since 2019.

And in enjoying these gains in the new year, stocks are diverging from the trends that emerged in the second half of 2022. A move that has important implications for investors.

Start with the biggest loser of the day, the Dow Jones Industrial Average (^DJI), which was down 1.81{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, or 614 points, on Wednesday, its worst showing in over a month. As of late December, the Dow had outperformed the Nasdaq by 20 percentage points — the most since the dot-com bubble crash two decades prior.

Despite this outperformance, however, the Dow ended 2022 down nearly 9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. There were few places for investors to hide in 2022.

But Wednesday, the Nasdaq outperformed the Dow by 57 basis points. Particularly notable coming on such a negative day for the market. In the first 11 trading days of the year, the Nasdaq is already up 4.69{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the Dow’s meager 0.45{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} gain.

If we dive inside the benchmark S&P 500 and look at relative sector performance, 2023’s year-to-date sector chart is nearly the inverse of 2022.

S&P 500 Sector Performance -- 2023 year-to-date — S&P 500 Sector performance year-to-date through Jan. 18., 2023.(Source: Yahoo Finance)

Last year’s second-worst-performing sector is this year’s best: Consumer Discretionary (XLY).

Helping matters are the sector’s two largest megacap components — Amazon (AMZN) and Tesla (TSLA) — which are both nicely positive so far in 2023, gaining a little over 4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} each.

The two other sectors besides consumer discretionary that house some of the market’s biggest names — Tech (XLK) and Communication Services (XLC) — are also serving as leaders this year.

And let’s not gloss over the strength in Real Estate (XLRE), which is up more than 5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} after having just endured one of the most challenging housing markets in a generation last year. Another big narrative shift after 2022.

On the flip side, those red sectors in the above heat map — Utilities (XLU), Health Care (XLV), and Consumer Staples (XLP) — were the least-bad sectors after Energy last year. These sectors are also commonly referred to as defensive areas of the market for investors to find shelter in a storm. In the 2023 market, however, it seems safe trades aren’t quite safe.

The bond market is also confirming moves back into these formerly unloved, growthy areas of the market that took the biggest hits a year ago.

On Wednesday, the yield 10-year on U.S. Treasury notes (^TNX) plummeted 16 basis points to 3.375{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, a four-month low. All else equal, sinking bond yields favor growth stocks that depend on lower interest rates.

And although buying bonds is often seen as investors fleeing to safety, right now the bond bid appears firmly part of a risk on trade.

Finally, throw in Wednesday’s market reaction to economic news.

December retail sales surprised to the downside with a drop of 1.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, which follows a similar negative print in November. Investors seem to be pricing in this objectively bad news for what it is — bad news — instead of trying to play 4D chess with Jay Powell and the Federal Reserve.

Speaking of the Fed, the market’s new favorite macro risk assets, bitcoin (BTC-USD) and ethereum (ETH-USD), are each up about 25{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} this year. Bitcoin and crypto have been particularly volatile around important Fed decisions and inflation data — leading risk markets to the upside at times, and downside at others.

Bottom line: Bitcoin is a clear leader this year among the “fringier” parts of the markets, and, currently, the direction is up.

Now, some of these pockets of the markets have been exhibiting strength since late last year. Under different leadership, this could change.

But this is a market starting to show the hands of winners over losers.

As Steven Strazza, director of research at All Star Charts tweeted this week: “Breakouts are sticking. Breakdowns are failing. It’s not bear market behavior.”

What to Watch Today

Economy

8:30 a.m. ET: Housing Starts, December (1.358 million expected, 1.427 during prior month)
8:30 a.m. ET: Building Permits, December (1.365 million expected, 1.342 million during prior month, revised to 1.351 million)
8:30 a.m. ET: Housing Starts, month-over-month, December (-4.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} expected, -0.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during prior month)
8:30 a.m. ET: Building Permits, month-over-month, December (1.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} expected, -11.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during prior month, revised to -10.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996})
8:30 a.m. ET: Philadelphia Fed Business Outlook Index, January (-11.0 expected, -13.8 during prior month, revised to -13.7)
8:30 a.m. ET: Initial Jobless Claims, week ended Jan. 14 (214,000 expected, 205,000 during prior week)
8:30 a.m. ET: Continuing Claims, week ended Jan. 7 (1.655 million expected, 1.634 million during prior week)

Earnings

Netflix (NFLX), Procter & Gamble (PG), American Airlines (AAL), Comerica Inc. (CMA), Truist Financial Corp. (TFC), PPG Industries Inc. (PPG), Fastenal Company (FAST), M&T Bank (MTB), Fifth Third Bancorp (FITB), Northern Trust Corporation (NTRS), KeyCorp (KEY), SVB Financial Group (SIVB)

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