U.S. stock indexes opened lower on Monday following last Friday’s strong January jobs report that saw stocks rally and the Dow push over the 20,000 mark.
But looming political battles await lawmakers on Capitol Hill who are facing pressure to pass new tax and regulatory reforms while confronting the United States’ ballooning national debt which is approaching the $ 20 trillion market, a new record.
Here’s the real time debt clock.
The economic calendar is quiet this week after a packed calendar last week.
The focus of the week ahead will revolve primarily around corporate earnings results.
On Tuesday Consumer Credit for December is due along with the Trade Balance (December) and JOLTS-job openings.
On Wednesday the MBA Mortgage Index Applications Index is due (2/4) and crude inventories (2/4) is also reported.
On Thursday weekly initial and continuing claims comes into focus along with Wholesale inventories (Dec.) and Natural Gas Inventories (2/4).
On Friday Import/Export prices are due for January. Michigan Sentiment for February (Prelim) and the Treasury Budget (January) are also reported on Friday.