Here are three things to pay attention to for the upcoming trading week.
First, Jerome Powell, Chairman of the Federal Reserve will be testifying to the Senate Banking Committee at 10:00am EST on Tuesday and the House Financial Services Committee at 10:00am EST on Wednesday. We will be watching to see what he says about stimulus which may have an impact on the markets.
Also, at 10:30 on Wednesday, Crude Oil inventories will be announced. With the freezing conditions in Texas, we are watching to see if inventories continue to contract driving prices up.
Finally, we have a big week of earnings announcements. We have more than a thousand companies reporting including Salesforce, Home Depot, and Berkshire-Hathaway.
If you’re in the markets this week, make sure you have trade plan and as always, make sure you set your risk parameters.