The coming week will be filled with notable political and economic events, including two high-profile court proceedings. Namely, United States President-elect Donald Trump is set to be sentenced on January 10 after New York Supreme Court Judge Juan Merchan rejected his attempt to have the hush money case dismissed based on a claim of presidential immunity. However, the judge pointed to a strong possibility of an "unconditional discharge" sentence, which would not require Trump to be incarcerated. On the same day, the US Supreme Court (SCOTUS) will hear arguments for ByteDance's appeal regarding the legislation requiring TikTok to be sold or banned.
The week will also be marked with several key economic indicators from multiple countries, as Germany, Switzerland, Italy, Australia, China and the Eurozone are set to publish their inflation reports. The US, United Kingdom, Germany, France and the euro area will also issue their reports showing the business activity in their private and service sectors. Investors can also expect the US job report, as well as information on the employment change, unemployment rate and the average hourly earnings in the country.
The US markets will be closed on January 9 to honor the National Day of Mourning following the passing of former US President Jimmy Carter, whose funeral is set to take place on that day. However, investors can expect the earnings reports on Friday from Delta Air Lines for its fourth quarter in fiscal 2024 and from Walgreens for its first quarter in fiscal 2025.
