Opening Bell: U.S. Futures, Global Stocks Gain Ahead Of Yellen; Gold Slips
Investing.com | Jan 19, 2021 07:30AM ET
- Signs of resurfacing “reflation trade”
- Bitcoin benefits from weaker dollar
- Gold remains under pressure
- Joseph Biden takes office as the 46th US president on Wednesday.
- On Wednesday there are policy decisions from central banks in Brazil, Malaysia and Canada.
- Procter & Gamble (NYSE:PG) and Morgan Stanley (NYSE:MS) report earnings on Wednesday.
- On Thursday, the Bank of Japan and the ECB deliver interest rate decisions.
- Futures on the S&P 500 Index climbed 1.1%.
- The STOXX 600 Index increased 0.3%.
- The MSCI Asia Pacific Index gained 1.2%.
- The MSCI Emerging Markets Index gained 1.2%.
- The Dollar Index declined 0.1% to 90.63.
- The euro climbed 0.3% to $1.2114.
- The British pound increased 0.1% to $1.36.
- The Japanese yen weakened 0.3% to 103.99 per dollar.
- The yield on 10-year Treasuries climbed two basis points to 1.11%.
- The yield on two-year Treasuries gained less than one basis point to 0.14%.
- Germany’s 10-year yield advanced one basis point to -0.52%.
- Britain’s 10-year yield gained one basis point to 0.296%.
- West Texas Intermediate crude advanced 1%.
- Gold strengthened 0.2% to $1,844.64 an ounce.
Key Events/h2
US futures on the Dow, S&P 500, NASDAQ and Russell 2000, and most global equities were higher on Tuesday ahead of an expected call for the Biden administration's generous fiscal stimulus package by Treasury Secretary nominee Janet Yellen when she testifies in front of the Senate Finance Committee later today, after the US market opens.
This morning, the dollar edged lower while oil inched higher.
Global Financial Affairs/h2
Yellen is expire on Jan. 29.
The digital currency is set to complete a bullish pennant, whose implied target suggests topping the $50,000 level, and even nearing $60,000.
Oil prices advanced slightly.
Up Ahead/h2
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