3 Economic Events That Can Affect Your Portfolio This Week: January 2-6

Happy New Year from TipRanks! As the markets awaken from the sleepy holiday period, these are the events that could affect your portfolio this week:

1. Market Closure – Monday, Jan. 2 – When the markets are closed, it can create a sense of anticipation and excitement among investors, especially at the start of a new year. Investors can use the time to assess their strategies for the year ahead, and are likely to speculate how and whether the markets will improve in 2023. The increased excitement could spur more people to engage with the stock market, and that increased trading activity can lead to positive or negative changes in your portfolio.
2. Factory Orders Report – Friday, Jan. 6 – This measure tells us about the amount of orders of goods, inventories and shipments, all at the manufacturing level. While an increased number of factory orders could indicate that the economy is expanding and robust, it could also be a sign of inflation. On the other hand, a decreasing amount of factory orders can indicate a faltering economy. Either way, Factory Orders are an economic indicator, and the report is likely to affect your portfolio.
3. FOMC minutes – Wednesday, Jan. 4 – The Fed is expected to stick to its path of raising interest rates, but that does not stop investors from carefully following its minutes. Typically, the release of the minutes affects trading volume and the volatility of asset prices. Initial Jobless Claims and the ADP Employment report won’t be reported until January 5, so those won’t affect Wednesday’s FOMC minutes, but the minutes will still reflect the Fed’s appraisal of the economy as the new year begins.