Stock Futures Higher Ahead Of Opening Bell

U.S. stock futures moved higher early Tuesday as Wall Street looked to bounce back from a rough week ahead of President-elect Joe Biden's inauguration.

VXX is lower signaling less fear in the market. Anything under 17 has me feeling bullish. If you want a great trading indicator what VXX.
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SPY and QQQ have gapped up, but let’s see if we can keep this rise into open.

The move in futures comes after a down week for equities. The Nasdaq Composite and S&P 500 lost 1.5%, while the Dow was off only 0.9%. This was the worst week for the three major indexes since October which had many investors calling for a major drop this week due to the uncertainty around Inauguration.

Biden unveiled his $1.9 trillion plan for economic relief as the country tries to get a handle on the Covid-19. However, I think the market wants more stimulus.

Notable news that can move today’s market might be Janet Yellen the nominee for Treasury Secretary and a former chair of the Federal Reserve, will appear before the Senate Finance Committee. Yellen has been speaking f or about the pandemic and her prepared remarks call for the federal government to ‘act big’ which should be seen a positive as this market likes government money.

Today also kicks off a heavy week of earnings. With companies like Bank of America and Goldman Sachs reporting their fourth-quarter results before the bell and Netflix's numbers coming after the market closes. These earnings reports will have significant influence on the market so pay attention as they could set the mood for the week.

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