Investing.com - On Tuesday, the US stock market came "cooling", and he lost part of the profits received on Monday, which was the best day for the S & P 500 index from June last year.
Partially the cause of the digression may be fixing profits, especially in the shares of technological companies.
In the Senate now there is a draft law of Joe Bayden about incentives worth $ 1.9 trillion, which has already been adopted by the Chamber of Representatives. Democratic lawmakers want to transfer the adopted bill to the White House by the middle of the month so that checks on $ 1400 could be sent by mail to the corresponding recipients.
This week will be an important set of data on the labor market, including a report on vacancies in the private sector on Wednesday and a government report on vacancies for February on Friday - the first working report for the full month of stay in the White House of Administration of President Byyden.
Merck (NYSE: MRK) & Company Inc (NYSE: MRK) stated on Tuesday, which will help Johnson & Johnson (NYSE: NYSE: JNJ) to produce a single-barbecue vaccine, while the United States is trying to intensify vaccination efforts.
Here are three things that can affect the market on Wednesday:
1. Private payment statements finish government data
Changes in employment for February from ADP will be published on Wednesday at 08:15 on Eastern Time (13:15 GRINVICHI). 177 thousand jobs are expected to increase over a month compared with increasing in January by 174 thousand.
2. Observations of regional banks Fed
The Beige Book of the Federal Reserve System will be published at 14:00 in Eastern Time (19:00 on Greenwich) on the same day, when a number of officials of the Fed will perform at various conferences and scheduled meetings. The "Beige Book" is a collection of reports on economic and business conditions from various Fed banks throughout the country, which is useful for identifying trends and potential weaknesses.
3. Oil reserves as a business demand indicator
The energy sector recently went to growth against the background of tensions between Saudi Arabia and Russia. Influential producers should decide whether they will adhere to the decision to reduce production or change it. Of course, there is no consent between them.
According to OPEC reports, in 2021, crude oil reserves will be reduced by about 400 million barrels. It is expected that in the run-up to the virtual meeting of oil-producing countries, Russia will insist on further increasing supply, while the CSA seeks to limit the supply to take advantage of higher prices.
A weekly overview of the US oil industry showed that last week oil reserves increased by more than 7 million barrels. On Wednesday, government data on oil reserves will be released at 10:30 in the morning (15:30 GRINVICH). Energy information (EIA) is expected to report that the reserves of crude oil in the United States fell by 928 thousand barrels last week after an increase of 1.285 million barrels of the week earlier.
By Liz Moyer.
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