After a historic week, markets get back to the business of watching the Federal Reserve and economic data — but with a very new perspective.
Donald Trump's surprise victory in a tight presidential election defied Wall Street expectations, not only regarding who would lead the country, but the market's reaction to that leader. Instead of latching onto the uncertainties, the market vaulted higher on the president-elect's promise of changing the tax code and launching a huge spending program to stimulate the economy. Interest rates rose and market talk turned to inflation and higher growth.
Trump's transition will be a big focus for markets in the week ahead, and of particular interest will be any guidance on whom he plans to name for key Cabinet jobs. Some of those names could be market moving, given the emphasis during the campaign on things like trade and deregulation. There is also a busy economic calendar, with the highlights both Tuesday's retail sales report and CPI inflation data Thursday.