Stocks fell on Wednesday morning as investors weighed new retail sales and producer price data, and awaited the release of minutes from the Federal Reserve's last meeting. The Commerce Department reported that U.S. retail sales rose a seasonally adjusted 5.3% in January, up from a decline of 1.0% in December and well above the Reuters consensus forecast of 1.1% growth. The Labor Department said that its producer price index rose 1.3% in January, up from 0.3% in December and the strongest gain since December 2009. The Dow fell 0.2%, the S&P 0.6%, and the Nasdaq 1.2%. Crude oil traded near $60 per barrel, while gold fell $18 to $1781 per ounce.

The stock market performed well last week, touching fresh highs with no clear-cut catalysts aside from relatively strong earnings. Tech stocks outperformed blue chips, though small-cap stocks outperformed both. During Friday's session, the Dow Jones Industrial Average increased 28 points, or 0.09%. The S&P 500 was up 0.47%, and the Nasdaq Composite increased 0.50%. For the week, the DJIA climbed 310 points, or 1.00%, the S&P 500 climbed 1.23%, and the Nasdaq Composite led the way, climbing 1.73%. Year-to-date, the DJIA is up 2.78%, the S&P 500 is up 4.76%, and the Nasdaq Composite is up 9.37%.

There's nothing like a week-long selling jag to get the bullish juices flowing once again. After the S&P 500 set a new all-time closing high at 3,855 on 1/25/21, GameStop hysteria seized the market. A relatively small set of retail investors, embracing YOLO (you only live once), pushed GME to unsustainable highs in the mid-$300s. Although this occurred among a small group of investors in a small set of stocks, fear grew that an equity asset bubble had been discovered, and broad selling took over. By 1/29/21, the final trading day in January, the S&P 500 had fallen 3.7% or by about 140 points.

January ended with a fizzle, as stocks recorded their worst month since October and the S&P 500 registered a loss for the month. In a month that featured the incursion at the Capitol Building and a heavily policed inauguration, few predicted that the key market driver would be a retail chain that a few hedge funds (to their misfortune) perceived to be on its last legs.

Stocks were largely flat on Tuesday morning as investors weighed earnings reports from a range of major companies. Johnson & Johnson shares rose 3% after the company posted better-than-expected 4Q earnings and said that it would provide an update on its COVID-19 vaccine candidate 'soon.' GE shares rose 5%, despite slightly lower-than-expected 4Q EPS, as the company posted strong industrial free cash flow and issued positive guidance for 2021. The Dow rose 0.1%, the S&P was flat, and the Nasdaq rose 0.1%. Crude oil traded near $53 per barrel, while gold fell $2 to $1853 per ounce.

This edition features the year ahead for the coronavirus vaccine; spinal cord stimulation innovation; the Democratic wins in Georgia and the impact on our coverage; and notes from Molson Coors, Intel, and new coverage Exact Sciences.