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Investing.com — Markets couldn’t quite decide which way to go, but with oil prices returning to pre-pandemic highs there was no question that energy’s making a comeback.
Democrats are preparing to possibly impeach President Donald Trump on Wednesday. The native New Yorker and upcoming Florida resident said his remarks in the run-up to the Jan. 6 attack on Capitol Hill were “appropriate.”
The president also hit back at social media companies, several of which have reined in his reach by restricting access to his accounts. Twitter Inc (NYSE:TWTR) and Facebook (NASDAQ:FB) shares were lower.
In other news, General Motors (NYSE:GM) had a good day, rising to a record high as the automaker unveiled an electric van, not made by Nikola.
Here are three things that may move markets tomorrow:
1. Impeachment part deux
Assuming Vice President Mike Pence doesn’t throw President Trump under the 25th Amendment bus, he’s looking at a second impeachment process on Wednesday. Trump faces one charge for incitement of insurrection, and the debate on the resolution is expected to begin tomorrow with a vote to follow.
2. Consumer prices and more
Headline inflation for December hits at 8:30 AM ET (1230 GMT). Consensus calls for a 0.4% bump from the previous month’s 0.2%. MBA mortgage applications (7:00 AM ET) and the monthly budget statement (2:00 PM ET) are also due.
3. Beige book
The Fed’s December Beige Book will give us a look at how regional economies were holding up at the end of the year. Look for commentary on how the continued pandemic and initial vaccine distributions affected outlooks and hiring trends.
