TODAY ON WALL STREET: New risks weigh on investors’ mind

01/11/2021 | 10:27am

Stocks rose in the past few sessions as investors bet that the return of Democrats to power will increase the likelihood of further government spending to support the economic recovery. However, Wall Street is down at the start of the week as investors weigh a number of risks.

Four days after the events on Capitol Hill, Nancy Pelosi announced a series of actions to remove the Republican President. The House will be asked on Monday to vote on a resolution to remove Donald Trump from office. The Democratic leader said the impeachment proceedings will be introduced in the process.

Democrats call on Mike Pence to urgently activate the 25th Amendment to the Constitution to declare the president unfit for office. Pence has so far shown no willingness to proceed.

Meanwhile, investors are also weighing on disappointing job data which shows that the recovery is slowing.

The week will be relatively calm in terms of macroeconomic indicators, so that the news will remain dominated by the ultimate suspense of the Trump presidency: will it really go all the way?

China reported annual inflation of 0.2 percent in December, while the consensus was for stagnation. There will be no further macroeconomic indicators today.

Romain Fournier
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