By Christiana Sciaudone
Investing.com -- Markets didn't go much of anywhere Thursday after hitting records after Joe Biden's presidential inauguration a day earlier.
Apple (NASDAQ:AAPL) and Ford helped prop things up while energy stocks tumbled on a surprise build in weekly U.S. crude supplied. Industrials slumped with air travel failing to bounce back.
Gold prices stayed relatively strong on Thursday in their rebound from $1,800 lows as the Biden administration’s plans to aggressively stimulate the U.S. economy with huge spending further weakened the dollar.
The new president is also taking aim at the coronavirus, with a coordinated federal response and rolling out strategies related to vaccinations and testing.
The goal is to administer 100 million shots, which is enough to cover 50 million Americans with vaccines that require two doses, in his first 100 days in office, CNN said. Here's hoping (for those who believe in the vaccine. For those who don't, no biggie).
Here are three things that may move markets tomorrow:
1. Existing Home Sales
Low inventories and the uptick in Covid cases will likely continue to weigh on existing home sales. Consensus for December is a 2.1% decline to 6.55 million from November's 6.69 million, which itself was a drop from the previous month.
2. Earnings continue to roll in
No offense to those we're about to mention, but it's not exactly an exciting slate of companies due to report. For those that love the oil industry, there's Schlumberger (NYSE:SLB) Ltd. If you're into trains, Kansas City Southern (NYSE:KSU) is due. And if regional financial companies are your thing, there's, Regions Financial Corp (NYSE:RF).
3. Welcome RLX, PAX
Two newbies are set to join the ranks of publicly traded companies Friday. Later today, Chinese e-cigarette maker RLX Technology will look to raise as much as $1.17 billion by selling 116.5 million American Depositary Receipts at $8 to $10 each. Patria Investments is a private equity firm focused on Latin America. It's hoping to raise about $426 million through the sale of 16.7 million shares at $14 to $16 each. Both begin trading on Friday.