New Year, new markets? New EV subsidies, new CEOs and new House Speaker top week ahead

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FOX Business adds ‘The Bottom Line,’ ‘Big Money Show’ to weekday programming in new year

FOX Business’ Dagen McDowell will co-anchor ‘The Bottom Line’ alongside Fox News contributor Sean Duffy on weekdays from 6-7 p.m. EST, beginning in January.

The New Year is shaping up to be as exciting as the old one. Investors are hoping that 2023 will be a more positive year for the markets than 2022.

The first week of the year is shaping up to be an exciting one for investors. The new federal EV buying incentives are set to go into effect. 

The new federal EV buying incentives built into the Inflation Reduction Act kick in with the New Year. These modify the existing credits to favor electric vehicles manufactured in the US.

President Biden signs into law H.R. 5376, the Inflation Reduction Act of 2022. (Demetrius Freeman/The Washington Post via Getty Images / Getty Images)

The New Year will see a raise for many with minimum wage increases in Maine, Massachusetts, Michigan, Ohio, Virginia, and Washington DC; however, raising the minimum wage will entrench some of the inflation we saw in 2022 permanently into the economy.

AVERAGE US WORKER WON’T TAKE NEW JOB FOR LESS THAN $74K AS SALARY DEMANDS HIT NEW RECORD: FED SURVEY

2023 will also see leadership turnovers at some major firms, including new CEOs at Adidas, ADP, Cargill, Maersk, Markel, Marriott Vacations, Nikola, Teva Pharmaceutical, Warner Music Group, Colonial Pipeline, Levi Strauss, Tock, and Whole Earth Brands

Egypt will also be increasing its fee to transit the Suez Canal raising shipping costs on one of the world's most traveled shipping routes.

This satellite image from Maxar Technologies shows the cargo ship MV Ever Given stuck in the Suez Canal near Suez, Egypt, Saturday, March 27, 2021. Authorities are preparing to make new attempts to free the giant container vessel stuck in Egypt’s Sue

Monday, January 2

As a federal holiday in the US the markets will be closed on Monday. SpaceX is scheduled to kick off the year in style with a rocket launch.

As a holiday we will not hear from Congress and the Federal Reserve, neither will any earnings or economic data be released.

Tuesday, January 3

Tuesday will involve the vote for the next House Speaker to replace Nancy Pelosi with a Republican controlled House.

Investors will also be attuned to Sam Bankman-Fried’s court hearing. His first since he was released to house arrest under a $250 million bail, the largest in American history.

Sam Bankman-Fried leaves Federal Court in New York City on Thursday, December 22, 2022. The former CEO of FTX and Alameda has been released on $250M bail. (Charles Guerin/Abaca for Fox News Digital / Fox News)

CES (Consumer Electronics Show) 2023 will begin in Las Vegas and run through Jan. 8 with speeches from tech executives at the top of investors minds throughout the week after major layoffs in the industry and the worst year for Tech in a decade. 

There are no earnings of note either before or after the markets.

Economic data of note will include vehicle sales and construction spending.

Wednesday, January 4

Volkswagen will increase the price of the ID.4, by $1,500 for models made after today.

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There are no earnings of note either before or after the markets.

Economic data that will keep investors busy will include mortgage applications, ISM manufacturing PMI, and JOLTS job openings.

Thursday, January 5

Thursday will include a keynote address from the CEO of Delta at CES as well as one by the CEO of Stellantis, the name for the Fiat, Chrysler, Jeep, Dodge, Ram consortium.

Ram will also unveil its 1500 Revolution BEV concept, its first electric truck designed to compete with the Ford F-150 Lightning Electric Pickup Truck and the Rivian R1T.

The first noteworthy earnings reports of the year will commence before market open with Conagra Brands, Constellation Brands, Helen of Troy, Lamb Weston, Simply Good Foods, and Walgreens Boots Alliance all vying for investors attention.

It's all quiet on the earnings front after the bell tolls.

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Economic data being released on Thursday will include Challenger layoffs, ADP national employment, initial jobless claims, international trade, and EIA weekly crude stocks.

FILE – This image provided by Biogen on Monday, June 7, 2021 shows a vial and packaging for the drug Aduhelm. The Food and Drug Administration’s contentious approval of a questionable Alzheimer’s drug took another hit Thursday, Dec. 29, 2022, as cong (Biogen via AP, File / AP Newsroom)

Friday, January 6

After granting priority review, the FDA’s "action date" on Eisai and Biogen’s application for an early Alzheimer’s drug.

There won't be any earnings reports of note on Friday, but investors will be keen for economic data including Non-farm payrolls, unemployment rate, durable goods, and the ISM non-manufacturing PMI.

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