Biden’s Big Day, Morgan Stanley, More Earnings: 3 Things to Watch By Investing.com

By Christiana Sciaudone

Investing.com —  Americans are counting down the hours, some thrilled and others devastated, as President-elect Joe Biden prepares to take the helm as the leader of the free world (or what once was).

Markets were optimistic that the outlook is positive, driving shares of tech and energy stocks higher. Oh, and, of course, yet more stimulus talk. 

Case in point: Former Federal Reserve Chair Janet Yellen in her confirmation hearing as Treasury Secretary called on lawmakers in Congress to “act big” and support further stimulus to boost the economic recovery. 

Outgoing Senate Majority leader Mitch McConnell said the mob that attacked the U.S. Capitol earlier this month was provoked by President Donald Trump, who is up for another impeachment trial.  

We have one more bank to go tomorrow as well hold our collective breaths that inauguration day will pass without violence and death.

Here are three things that may move markets tomorrow:

1. U.S. President 46

Out with the old, in with the older. Joe Biden starts his term as the 46th U.S. President, and markets may welcome the relative calm after the Trump years. Still, expect a flurry of executive actions in the first few days, not to mention the $1.9 trillion pandemic-relief plan he’s already laid out.

2. Morgan Stanley 

The last of the big six drops results before the open, and Morgan Stanley (NYSE:MS) is expected to follow its rivals by posting stellar trading results. Look for commentary on how the bank expects to do in the coming economic rebound and how effective it has been in keeping costs down.

3. Other earnings

We’ll also hear from consumer goods heavyweight Procter & Gamble (NYSE:PG) and UnitedHealth. P&G is expected to post a profit of $1.51 a share on $19 billion in sales. Some analysts expect it to boost its full-year forecasts. UnitedHealth Group Incorporated (NYSE:UNH) said last month that it sees a $2 billion hit to profits this year because of Covid. Consensus calls for an adjusted EPS of $2.41 on $65 billion in revenue.