Jobs, Mnuchin, Retail Results: 3 Things to Watch

Jobs, Mnuchin, Retail Results: 3 Things to Watch

© Reuters.  © Reuters.

By Christiana Sciaudone — Markets made a quick come back after a soft Monday as stimulus is back on our tongues and vaccines appear to be on the horizon.

Europe's inching toward approving Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) vaccines, which is good news as U.S. infections ramp up amid the holiday season.

House Speaker Nancy Pelosi and U.S. Treasury Secretary Steven Mnuchin should talk things out, once again, as lawmakers on Capitol Hill reportedly proposed a $908 billion coronavirus relief bill that includes aid for various parts of the economy including small businesses and unemployed Americans.

Financials gained, while energy lagged as major producers delayed decisions on production. Zoom Video Communications Inc (NASDAQ:ZM) slumped even though we'll probably be home for quite a while longer.

In a bet that we'll start wearing makeup again (okay, we'll admit to dolling up for Zoom meetings), Kohl's (NYSE:KSS) followed Target (NYSE:TGT)'s partnership with Ulta Beauty (NASDAQ:ULTA) with a Sephora deal to have a store within a store centered on beauty.

Here are three things that may move markets tomorrow:

1. Jobs in the spotlight on day 2 of testimony by Mnuchin and Powell

The U.S. private sector is expected to have added 410,000 people to payrolls in November, up from 365,000 in October. The ADP monthly employment report is set to be published Wednesday at 8:15 AM ET (1215 GMT). October's numbers came in far below the 650,000 expected by analysts.

Treasury Secretary Steven Mnuchin and Fed Chairman Jerome Powell will be back on the hot seat testifying to the House at 10:00 AM ET (1400 GMT).

2. Earnings continue to trickle in

We've got a couple of retailer results coming your way tomorrow. Guess (NYSE:GES) of the lascivious jeans ads is expected to report earnings per share of 5 cents on sales of $515.6 million. Five Below (NASDAQ:FIVE), the discount store for tweens and teens, should report earnings per share 19 cents on revenue of $444.5 million.

3. Conference time for investors

Credit Suisse (SIX:CSGN) will hold its eighth annual industrials conference, virtually, of course, starting on Wednesday. Among the company's presenting are General Electric Company (NYSE:GE), 3M Company (NYSE:MMM), Virgin Galactic Holdings Inc (NYSE:SPCE) and Baker Hughes.

Jefferies (NYSE:JEF) is holding a perhaps more entertaining conference starting tomorrow: Sports Betting, iGaming, Retail & Brands Summit 2020.

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