After Hours Report

Updated: 07-Jan-26 17:14 ET

Applied Digital higher on earnings; Eli Lilly confirms agreement to acquire Ventyx Biosciences

After two strong sessions to start the week, the major averages finished mostly lower in the midweek session as the recent rally in cyclical stocks took a step back. A solid showing from the mega-caps, which have been muted in recent sessions, helped the Nasdaq Composite (+0.2%) outperform and the S&P 500 (-0.3%) notch a record intraday high before retreating. Weakness across the broader market saw the DJIA (-0.9%) underperform.

The industrials sector (-1.9%) was the worst-performing cyclical sector today. Notably, President Trump said via Truth Social, "I will not permit dividends or stock buybacks for defense companies until such time as these problems are rectified," citing executive pay and slow production of military equipment as the problems. Aerospace and defense names lagged as a result, sending the iShares DJ Aerospace 1.7% lower.

The materials sector (-1.6%) faced a similar loss as precious metals prices fell, while the energy sector (-1.2%) faced pressure as crude oil futures settled today's session $1.14 lower (-2.0%) at $55.99 per barrel.

President Trump announced that Venezuela will immediately begin providing the U.S. with 30-50 million barrels of oil, which helped some refiner names, such as Valero Energy (VLO 183.86, +5.59, +3.14%), still notch nice gains.

Elsewhere, the financials sector (-1.4%) saw some selling pressure in major banking names ahead of a busy week of earnings reports next week.

Despite the relatively broad weakness that saw eight S&P 500 sectors finish lower, losses at the index level were somewhat mitigated by several strong mega-cap performances. The communication services (+0.8%) and information technology (+0.1%) sectors both finished well off of session highs, though Alphabet (GOOG 322.48, +7.93, +2.52%), Microsoft (MSFT 483.49, +4.98, +1.04%), and NVIDIA (NVDA 189.18, +1.94, +1.03%) helped keep the sectors in positive territory.

The information technology sector in particular faced mounting pressure as chipmakers gave back yesterday's advance, sending the PHLX Semiconductor Index 1.0% lower.

Afternoon selling pressure did significantly lessen gains across the mega-caps, with the Vanguard Mega Cap Growth ETF (+0.5%) finishing with under half of its earlier gain. Still, the market's weightiest components helped limit losses in the market-weighted S&P 500 (-0.3%), which decidedly outperformed the S&P 500 Equal Weighted Index (-1.2%).

Elsewhere, the health care sector (+1.0%) captured the widest gain today. Eli Lilly (LLY 1108.14, +44.10, +4.14%) was a top performer after The Wall Street Journal reported the company is in talks to acquire Ventyx Biosciences (VTYX 13.73, +3.68, +36.62%), while AbbVie (ABBV 233.43, +9.50, +4.24%) captured a similar gain, with The Wall Street Journal reporting the company looks to acquire Revolution Medicines (RVMD 102.71, +22.86, +28.63%).

Outside of the S&P 500, the Russell 2000 (-0.3%) and S&P Mid Cap 400 (-0.8%) gave back a chunk of yesterday's advance.

Today's session reflected some back-and-forth action as the market navigates the stretch between the holidays and earnings season. The cyclical rally faced a speed bump, but mega-cap leadership helped keep the major averages with solid week-to-date gains, and the S&P 500 near its own record high from earlier in the session.

U.S. Treasuries had a resilient showing on Wednesday, as longer tenors sustained their early gains in the face of some early pressure while the short end lagged, but still finished in the green. The 2-year note yield settled down one basis point to 3.47%, and the 10-year note yield settled down four basis points to 4.14%.

Russell 2000: +3.8% YTD
S&P Mid Cap 400: +3.4% YTD
DJIA: +1.9% YTD
Nasdaq Composite: +1.5% YTD
S&P 500: +1.1% YTD

Reviewing today's data:

Weekly MBA Mortgage Applications Index -9.7%; Prior -5.0%
December ADP Employment Change 41K (Briefing.com consensus 45K); Prior was revised to -29K from -32K
December ISM Non-Manufacturing Index 54.4% (Briefing.com consensus 52.2%); Prior 52.6%
- The key takeaway from the report is that activity in the services sector accelerated in December to its best level for 2025, accented by the first expansion reading for the employment index since May 2025.
October Factory Orders -1.3% (Briefing.com consensus -1.0%); Prior 0.2%
- The key takeaway from the dated report is that it was better than the headline suggests thanks to a pickup in business spending that was reflected in the increase in new orders for nondefense capital goods excluding aircraft.
November JOLTS - Job Openings 7.146 mln; Prior was revised to 7.449 mln from 7.670 mln

Overseas:

Europe: DAX +0.8%, FTSE -0.7%, CAC flat
Asia: Nikkei -1.1%, Hang Seng -0.9%, Shanghai +0.1%

Commodities:

Crude Oil -1.14 @ 55.99
Nat Gas +0.16 @ 3.52
Gold -34.00 @ 4462.30
Silver -3.35 @ 77.65
Copper -0.20 @ 5.86

After-Hours Spotlight:

Applied Digital (APLD) beats by $0.11, beats on revs...APLD +3.7%
Constellation Brands (STZ) beats by $0.43, beats on revs; guides FY26 EPS in-line...STZ +2.7%
Costco (COST) reports December adjusted comparable sales of +6.2%...COST +1.7%
Eli Lilly (LLY) confirms that it and Ventyx Biosciences (VTYX) entered into a definitive agreement for Lilly to acquire Ventyx; Lilly will acquire the company for $14/share in an all-cash transaction...LLY -0.1%
Globus Medical (GMED) issues upside guidance for Q4 and FY26...GMED +8.8%
Jefferies (JEF) misses by $0.01, beats on revs...JEF -2.7%
Karman Space and Defense (KRMN) expands into maritime defense market with agreement to acquire Seemann Composites and Materials Sciences; reaffirms FY25 guidance...KRMN +3.4%
Revolution Medicines (RVMD) lower after hours after AbbVie (ABBV) says it's not in talks to purchase RVMD, according to Bloomberg...RVMD -12.3%

Fair Value for Thursday, January 8:

S&P 500: 6,962
Nasdaq 100: 25,832
DJIA: 49,236

Today's News Summary:

For a full rundown of today's market and after hours developments, see Live In Play

Earnings/Guidance (Full E arnings Calendar):
- AAR Corp (AIR) beats by $0.15, beats on revs; guides Q3 revs above consensus, FY26 revenue growth above consensus
- Apogee Enterprises (APOG) reports EPS in-line, misses on revs; guides FY26 EPS below consensus, revs below consensus
- Cal-Maine Foods (CALM) beats by $0.18, misses on revs
- CoStar Group (CSGP) guides FY26 EPS below consensus, revs in-line; announces new $1.5 bln share repurchase program; provides long term outlook; provides Homes.com update
- Embraer SA (EMBJ) reports 91 aircraft delivered in the fourth quarter
- Grupo Aeroportuario del Pacifico (PAC) reports a passenger traffic increase in December 2025 of 0.1% compared to 2024
- HIVE Digital Technologies (HIVE) reports strong December production growth and maintains over 2% of global Bitcoin network
- LGI Homes (LGIH) reports 4,788 home closings in 2025
- MSC Industrial (MSM) beats by $0.04, reports revs in-line
- OR Royalties (OR) announces preliminary Q4 2025 GEO deliveries along with record annual revenues and C$50.8 million of share repurchases under the normal course issuer bid in 2025
- Penguin Solutions (PENG) beats by $0.05, beats on revs; reaffirms FY26 EPS guidance, revs guidance
- PSQ Holdings (PSQH) announces leadership updates and preliminary Q4 revenue above guidance
- United Micro (UMC) reports December revs increased 1.7% yr/yr to NT$19.28 bln
- W.P. Carey (WPC) announces record full-year investment volume of $2.1 billion and provides business update
General News
- President Trump says "Interim authorities in Venezuela will be turning over between 30 and 50 million barrels of high quality, sanctioned oil, to the United States of America. This oil will be sold at its market price"
- Republicans in Congress are showing little interest in limiting President Trump's war powers, according to NBC News
- Sec of State Rubio tells lawmakers Trump's goal is to buy Greenland, downplays military action, according to WSJ
- Senate Majority Leader John Thune says U.S. military takeover of Greenland is "not something that anybody is contemplating seriously", according to The Hill
- President Trump will meet with oil executives Friday to discuss plan to enter Venezuela, according to Politico
- China starts anti-dumping investigation into key chipmaking material from Japan, according to Bloomberg
- Bipartisan group in the Senate is close to a deal to renew ACA subsidies with restrictions and new cost sharing reductions, according to Politico
- Treasury Secretary Scott Bessent says "Treasury is implementing President Trump’s No Tax on American Car Loan Interest, putting money back in the pockets of working and middle-class families"
- Apogee Enterprises (APOG) announces the resignation of Matthew Osberg as CFO
- AptarGroup (ATR) and OURA collaborate to advance migraine insights
- Ascentage Pharma (AAPG) receives FDA IND clearance for BTK degrader APG-3288
- AT&T (T) and Mitsubishi Motors collaborate to bring 5G connectivity to the driving experience
- Bank of America (BAC) has elected to change its accounting methods related to its tax-related affordable housing, eligible wind renewable energy and solar renewable energy equity investments
- Bayer AG (BAYRY) and Cradle announced that they have entered a three-year strategic collaboration to deploy Cradle's scientific AI software platform for protein engineering
- BBOT (BBOT) Announces New Clinical Data Advancing Its Portfolio of Three Innovative and Differentiated RAS and PI3Ka Pipeline Programs
- CareDx (CDNA) and 10x Genomics (TXG) to launch ImmuneScape program – A multiomics research platform to decode transplant rejection and drug response
- Caterpillar's (CAT) CEO, D. James Umpleby III will retire as Executive Chairman effective April 1; CEO Joseph Creed will assume the role of Chairman
- Cboe Global Markets (CBOE) reports trading volume for December and Full Year 2025
- CF Industries' (CF) CFO will separate from the Company, effective as of February 15, 2026
- Clearway Energy (CWEN) disclosed revisions to unaudited financial information and material weakness in internal control over financial reporting
- Compass (COMP) and Anywhere (HOUS) stockholders overwhelmingly approve merger; expected to close on January 9
- COMPASS Pathways (CMPS) announces FDA acceptance of IND application for PTSD and hosts webinar on PTSD and TRD
- COPT Defense Properties (CDP) executes build-to-suit lease with University of Maryland’s Applied Research Lab for Intelligence and Security (ARLIS)
- Corteva (CTVA) and bp (BP) launch biofuel feedstock joint venture Etlas
- CRH Plc. (CRH): CRH Ventures partners with Citylogix to accelerate digital transformation in road infrastructure management
- CTO Realty Growth (CTO) announces full year investment activity and leasing update for the collection at Forsyth
- Douglas Elliman (DOUG) announced that Elliman Capital has now expanded to New York
- DXC Technology (DXC): Alpha Modus (AMOD) announces landmark agreement with DXC Technology to deploy financial services kiosks serving underbanked consumers across the US
- Eli Lilly (LLY): InduPro announces a global strategic collaboration and licensing agreement, and equity investment, with Eli Lilly and Company to discover novel oncology treatments using InduPro’s proximity-guided platform
- Evergy (EVRG) announces partial repurchase of 4.50% Convertible Notes due 2027
- Franklin Resources (BEN) reports December AUM of $1.68 trillion on strong long-term inflows
- GameStop (GME) announces long-term performance award for Ryan Cohen; award incentivizes growth to a market capitalization of $100 billion, aligning compensation directly with stockholder returns
- GE HealthCare (GEHC) recommends shareholders reject “Mini-Tender” offer by Potemkin Limited to purchase up to 100,000 shares (or a greater amount as outlined in the offer documentation) of GE HealthCare common stock at a price of $54.20 per share in cash
- GlaxoSmithKline (GSK) receives EU approval for Shingrix prefilled syringe presentation
- GlaxoSmithKline (GSK) reports phase III success for bepirovirsen in chronic hepatitis B
- Google (GOOG/GOOGL): When Google fell behind in the artificial intelligence race, it created a powerful new model, according to WSJ
- Healthpeak Properties (DOC) announces the formation of a pure-play, RIDEA-structured publicly traded senior housing REIT
- HUTCHMED (HCM) reports topline results of Phase III Part of ESLIM-02 Trial of Sovleplenib for warm antibody autoimmune hemolytic anemia in China
- JPMorgan Chase (JPM) set to take over Apple (AAPL) credit card from Goldman Sachs (GS) in $20 bln deal, according to WSJ
- Leonardo DRS (DRS) announces appointment of Sally Wallace as Executive Vice President, Chief Operating Officer
- Merck (MRK) initiates Phase 3 KANDLELIT-007 Trial Evaluating Calderasib (MK-1084), an Investigational Oral KRAS G12C Inhibitor, in combination With KEYTRUDA QLEX in certain patients with advanced NSCLC
- Meta (META) will delay the rollout of Ray-Ban display glasses, according to Reuters
- Microsoft (MSFT): OpenAI aims to turn ChatGPT into a personal health hub using wearable data, according to The Information
- Middleby (MIDD) amended Cooperation Agreement with Garden Investment Management
- Millicom International Cellular (TIGO) eyeing Telefonica SA’s (TEF) Chilean unit, according to Bloomberg
- Monte Rosa Therapeutics (GLUE) Announces positive interim phase 1 Data of MRT-8102 demonstrating profound CRP reductions in elevated CVD-risk subjects
- Motorola Solutions (MSI) introduces new Razr Fold that is AI ready
- Murphy Oil (MUR) achieves appraisal success at Hai Su Vang Field; reaffirms 2026 CAPEX guidance
- National Presto (NPK) Industy unit received a second delivery order under AMTEC’s current five-year Indefinite Delivery, Indefinite Quantity contract
- Nova Minerals Limited's (NVA) RPM North Drilling confirms further resource upside with east extension discovery
- NRG Energy (NRG) announces leadership succession plan
- Nvidia (NVDA) might soon agree to an expanded partnership with Hyundai (HYMLF), according to Reuters
- Plug Power (PLUG) discloses it entered into a release event license agreement with Walmart (WMT)
- Qualcomm (QCOM) will use Samsung's (SSNLF) manufacturing process, according to Korea Economic Daily
- Qualcomm (QCOM) & Hyundai (HYMLF) sign comprehensive agreement to collaborate on SDV architecture for ADAS
- Rapport Therapeutics (RAPP) announces accelerated initiation of RAP-219 Phase 3 program
- Revolution Medicines (RVMD): Abbvie (ABBV) in discussions to purchase RVMD, according to WSJ
- Rezolute (RZLT) announced further insights into the sunRIZE trial; plans to meet with FDA to align on path forward for congenital HI
- Rumble (RUM) and Tether launch Rumble Wallet, a non-custodial crypto wallet integrated directly into the Rumble platform
- Samsung (SSNLF) executives expect memory chip supply shortages to increase prices of electronics, according to Bloomberg
- Samsung (SSNLF) approves KRW2.5 trillion share repurchase for employee compensation
- StoneCo (STNE) announces new CEO, reinforcing continuity and execution
- Strategy Inc (MSTR) moving higher after hours after MSCI announced it will not exclude digital asset treasury companies from MSCI Indexes
- Syndax Pharmaceuticals (SNDX) announced a collaboration to expand access to Revuforj through a Managed Access Program
- Tetra Tech (TTEK) names Roger Argus as CEO, effective February 19
- Timken (TKR) announces strategic leadership appointments to accelerate profitable growth; John Szarka is appointed to the new position of chief technology officer
- Valero Energy (VLO) provides update on Benicia refinery
- Wabtec (WAB) secures a $386 mln follow-on order to deliver additional R255 hybrid battery-diesel work locomotives to New York’s Metropolitan Transportation Authority

Upgrades:
- Albemarle (ALB) upgraded to Outperform from Neutral at Robert W. Baird, tgt $210
- Amcor (AMCR) upgraded to Outperform from Neutral at Robert W. Baird, tgt $10
- Algonquin Power & Utilities (AQN) upgraded to Outperform from Sector Perform at National Bank, tgt $7.50
- Bank of New York Mellon (BK) upgraded to Buy from Hold at Truist, tgt $134
- Colgate-Palmolive (CL) upgraded to Overweight from Neutral at Piper Sandler, tgt $88
- Deutsche Lufthansa (DLAKY) upgraded to Overweight from Underweight at Morgan Stanley
- First Bancorp (FBNC) upgraded to Strong Buy from Market Perform at Raymond James, tgt $62
- First Commonwealth Financial (FCF) upgraded to Outperform from Market Perform at Raymond James, tgt $20
- Golub Capital BDC (GBDC) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $14
- HBT Financial (HBT) upgraded to Outperform from Market Perform at Raymond James, tgt $30
- Hershey (HSY) upgraded to Overweight from Neutral at Piper Sandler, tgt $213
- Johnson Controls (JCI) upgraded to Buy from Hold at Melius Research, tgt $148
- Lowe's (LOW) upgraded to Overweight from Equal Weight at Barclays, tgt $285
- McDonald's (MCD) upgraded to Outperform from Perform at Oppenheimer, tgt $355
- Nokia (NOK) upgraded to Buy from Hold at Kepler Cheuvreux
- Regeneron Pharmaceuticals (REGN) upgraded to Buy from Underperform at BofA Securities, tgt $860
- Trane Technologies (TT) upgraded to Buy from Hold at Melius Research, tgt $490
- Wayfair (W) upgraded to Overweight from Equal Weight at Barclays, tgt $123
Downgrades:
- Afya (AFYA) downgraded to Neutral from Overweight at JPMorgan, tgt $22
- Alerus Financial (ALRS) downgraded to Market Perform from Outperform at Hovde Group
- Arthur J. Gallagher (AJG) downgraded to Neutral from Overweight at Piper Sandler, tgt $272
- AST SpaceMobile (ASTS) downgraded to Underperform from Sector Perform at Scotiabank, tgt $45.60
- Axalta Coating Systems (AXTA) downgraded to Neutral from Outperform at Robert W. Baird, tgt $35
- Bain Capital Specialty Finance (BCSF) downgraded to Equal Weight at Wells Fargo, tgt $14
- Bank of America (BAC) downgraded to Peer Perform from Outperform at Wolfe Research
- BigBear.ai (BBAI) downgraded to Neutral from Overweight at Cantor Fitzgerald, tgt $6
- BJ's Wholesale Club (BJ) downgraded to Underweight from Equal Weight at Barclays, tgt $90
- Blackstone Secured Lending Fund (BXSL) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $24
- Chain Bridge Bancorp (CBNA) downgraded to Market Perform from Strong Buy at Raymond James
- ChoiceOne Financial Services (COFS) downgraded to Market Perform from Outperform at Hovde Group
- Citizens Financial Group (CFG) downgraded to Outperform from Strong Buy at Raymond James, tgt $66
- Cleveland-Cliffs (CLF) downgraded to Sector Weight from Overweight at KeyBanc
- Crocs (CROX) downgraded to Neutral from Outperform at Robert W. Baird, tgt $100
- Deckers Outdoor (DECK) downgraded to Neutral from Outperform at Robert W. Baird, tgt $125
- Deckers Outdoor (DECK) downgraded to Underweight from Neutral at Piper Sandler, tgt $85
- D.R. Horton (DHI) downgraded to Market Perform from Outperform at Citizens
- Fidelis Insurance Holdings (FIHL) downgraded to Underweight from Neutral at JPMorgan, tgt $21
- First Solar (FSLR) downgraded to Hold from Buy at Jefferies, tgt $260
- Graphic Packaging Holding (GPK) downgraded to Neutral from Outperform at Robert W. Baird, tgt $18
- GitLab (GTLB) downgraded to Neutral from Overweight at Cantor Fitzgerald, tgt $40
- Humana (HUM) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $290
- JPMorgan Chase (JPM) downgraded to Peer Perform from Outperform at Wolfe Research
- Lakeland Financial (LKFN) downgraded to Market Perform from Outperform at Hovde Group
- Lennar (LEN) downgraded to Market Perform from Outperform at Citizens
- M&T Bank (MTB) downgraded to Neutral from Buy at BofA Securities, tgt $225
- M&T Bank (MTB) downgraded to Peer Perform from Outperform at Wolfe Research
- MidCap Financial Investment (MFIC) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $11
- Mohawk Industries (MHK) downgraded to Peer Perform from Outperform at Wolfe Research
- Morgan Stanley Direct Lending (MSDL) downgraded to Equal Weight at Wells Fargo, tgt $16
- NatWest Group (NWG) downgraded to Equal Weight from Overweight at Barclays
- Portillo's (PTLO) downgraded to Hold from Buy at Stifel, tgt $6
- Prosperity Bancshares (PB) downgraded to Market Perform from Outperform at Raymond James
- SoundThinking (SSTI) downgraded to Neutral from Overweight at Cantor Fitzgerald, tgt $10
- State Street (STT) downgraded to Hold from Buy at Truist, tgt $138
- Union Pacific (UNP) downgraded to Market Perform from Outperform at BMO Capital, tgt $255
- U.S. Bancorp (USB) downgraded to Peer Perform from Outperform at Wolfe Research
- W.R. Berkley (WRB) downgraded to Underperform from In Line at Evercore ISI, tgt $69
- Wolverine World Wide (WWW) downgraded to Neutral from Overweight at Piper Sandler, tgt $16
- Yum! Brands (YUM) downgraded to Perform from Outperform at Oppenheimer
Others:
- AbbVie (ABBV) assumed at Neutral at UBS, tgt $240
- Addus HomeCare (ADUS) initiated with a Buy at Truist, tgt $135
- Aegon (AEG) resumed with a Hold at Deutsche Bank
- Amgen (AMGN) assumed at Buy at UBS, tgt $380
- Apogee Therapeutics (APGE) initiated with a Peer Perform at Wolfe Research
- Applied Digital (APLD) initiated with a Buy at Arete, tgt $99
- Badger Meter (BMI) initiated with an Underweight at Barclays, tgt $157
- Biogen (BIIB) assumed at Neutral at UBS, tgt $185
- BKV Corp. (BKV) initiated with a Buy at Roth Capital, tgt $31
- Compugen (CGEN) initiated with a Buy at H.C. Wainwright, tgt $4
- Design Therapeutics (DSGN) initiated with an Outperform at Oppenheimer, tgt $18
- Dream Finders Homes (DFH) initiated with a Market Perform at Citizens
- Enhabit (EHAB) initiated with a Hold at Truist, tgt $10.50
- Erasca (ERAS) initiated with an Overweight at Piper Sandler, tgt $5
- Exelon (EXC) resumed with a Sector Perform at RBC Capital, tgt $51
- Gilead Sciences (GILD) assumed at Buy at UBS, tgt $145
- Jade Biosciences (JBIO) initiated with a Buy at H.C. Wainwright, tgt $25
- Eli Lilly (LLY) assumed at Buy at UBS, tgt $1,250
- Magnum Ice Cream Company (MICC) initiated with a Hold at Jefferies
- Moderna (MRNA) assumed at Neutral at UBS, tgt $34
- M/I Homes (MHO) initiated with an Outperform at Citizens, tgt $165
- Meritage Homes (MTH) initiated with an Outperform at Citizens, tgt $90
- Natera (NTRA) initiated with a Buy at Citigroup, tgt $300
- Olema Oncology (OLMA) initiated with an Overweight at Piper Sandler, tgt $40
- ORIC Pharmaceuticals (ORIC) initiated with an Overweight at Piper Sandler, tgt $22
- Pfizer (PFE) assumed at Neutral at UBS, tgt $25
- Procter & Gamble (PG) assumed at Neutral at Piper Sandler, tgt $150
- PulteGroup (PHM) initiated with an Outperform at Citizens, tgt $145
- Prudential plc (PUK) resumed with a Buy at Deutsche Bank
- Palvella Therapeutics (PVLA) initiated with an Outperform at Mizuho, tgt $205
- RMR Group (RMR) initiated with a Buy at Ladenburg, tgt $17
- Seven Hills Realty Trust (SEVN) initiated with a Buy at Ladenburg, tgt $10
- Protara Therapeutics (TARA) initiated with an Overweight at Piper Sandler, tgt $24
- Taylor Morrison Home (TMHC) initiated with an Outperform at Citizens, tgt $95
- Toll Brothers (TOL) initiated with an Outperform at Citizens, tgt $175
- TRI Pointe Homes (TPH) initiated with an Outperform at Citizens, tgt $46E

Econ Data (Thursday):
- 8:30 ET: Preliminary Q3 Productivity (Briefing.com consensus 2.5%; prior 3.3%), preliminary Q3 Unit Labor Costs (Briefing.com consensus 0.8%; prior 1.0%), October Trade Balance (Briefing.com consensus -$61.3 bln; prior -$59.6 bln), weekly Initial Claims (Briefing.com consensus 217,000; prior 199,000), and Continuing Claims (prior 1.866 mln)
- 10:00 ET: October Wholesale Inventories (Briefing.com consensus 0.2%; prior 0.5%)
- 10:30 ET: Weekly natural gas inventories (prior -38 bcf)
- 15:00 ET: November Consumer Credit (Briefing.com consensus $10.3 bln; prior $9.2 bln)

Earnings:Monday (Jan 5)
Pre-Market: None
After-Hours: None
Tuesday (Jan 6)
Pre-Market: ANGO
After-Hours: AIR PENG
Wednesday (Jan 7)
Pre-Market: ACI APOG CALM MSM UNF
After-Hours: APLD AZZ JEF PSMT STZ
Thursday (Jan 8)
Pre-Market: AYI CMC HELE LNN NEOG RPM SMPL SNX
After-Hours: GBX WDFC
Friday (Jan 9)
Pre-Market: None
After-Hours: None