It’s a unusual day on the economic calendar. The US is back from holiday but the lone economic indicator is TIC flows, which aren’t a market mover.

Earnings have been rolling out with Goldman Sachs easily beating estimates and rising 2% while Bank of America missed on revenue and shares fell 1.2% in the premarket. After the close, Netflix is due out.

The main economic item will be Yellen’s testimony at 10 am ET (1500 GMT). Her text is already out but she will be grilled by Congress. She will sure be grilled on the dollar and no doubt say she supports market-determined FX rates. If anything, I’m curious how she will respond if she’s asked about China/Swiss FX undervaluation or manipulation. But Yellen is a master of saying nothing so I’d be surprised if that changes now.

On the political front, it’s Trump’s final full day in office and that means it time for some pardons. Reports say he will sign more than 100 pardons. No word if Joe Exotic is on the list: