There are no Federal Reserve speakers on the schedule today (though they could pop up on TV) and no top tier economic data.
So the market will be largely left on its own to dwell on the negative bent we're seeing so far today. The main reason I see to be worried is omicron in China, where harsh lockdowns threaten to severely curb economic activity and snarl the global supply chain as cases spread.
I'm focused on news coming from that region in the absence of anything else on the economic calendar, save for US wholesale inventories at 10 am ET (1700 GMT). The consensus is +1.2% but it won't be a market mover.
I will be keeping an eye out thirty minutes later for the Bank of Canada Q4 Business Outlook survey. It's a critical input for the BOC and whether they tee up a rate hike at this months' meeting. What will be tough to glean ins the impact of omicron so far but I'll be looking for commentary on that front.
