Bullish stocks ahead of Tuesday’s opening bell with Biden’s imminent opening

U.S. stock futures showed an upward trend ahead of Tuesday’s opening bell, with analysts looking at Joe Biden’s tenure on Wednesday.

Ticker	Safety	Last	change	Change %
I: DJI	DOW JONES AVERAGE	30814.26	-177.26	-0.57%
SP500	S&P 500	3768.25	-27.29	-0.72%
I: COMP	NASDAQ COMPOSITE INDEX	12998.502287	-114.14	-0.87%

Attention is also focused on the start of the new government, with President Donald Trump leaving after four years in office.

“The positive change in investor optimism before opening day is a clear sign that the market is leaning towards early approval of the Biden government’s policy agenda,” said Stephen Innes of Axi in a comment.

WILL COVID-19 OPEN CAPITALISM?

President-elect Joe Biden’s nominee for treasury secretary, former Federal Reserve chairman Janet Yellen, is asking Congress to do more to fight the recession and prevent an even worse slowdown.

In testimony prepared for his confirmation hearing on Tuesday before the Senate Finance Committee, Yellen said that more help is needed to distribute coronavirus vaccines – key to ending outbreaks – to reopening schools and helping struggling families. with the loss of jobs to remain fed and sheltered.

Last week, Biden proposed a $ 1.9 trillion aid plan to provide more help to American families, businesses and local communities and more support for vaccine production and distribution.

Although Democrats endorsed the effort, many Republican lawmakers expressed concern about the price due to the growing federal budget deficits.

BIDEN’S ENVIRONMENTAL PLAN SUPERCARGOS TESLA, RIVALS

Yellen said she and Biden were aware of the country’s rising debt, but that ultra-low interest rates make spending more now a smart choice.

The Senate Finance Committee’s hearing with Yellen on Tuesday is one of several that the Senate will hold as Biden’s new administration tries to get its top Cabinet officials to office quickly.

Adding to the sense of urgency, coronavirus outbreaks have grown as states work to put COVID-19 vaccines in the arms of as many people as possible.

Coronavirus deaths are increasing in almost two-thirds of American states, as a winter wave pushes the total number of deaths to 400,000 amid warnings that a new highly contagious variant is taking hold.

In Asia, stocks advanced on Tuesday, with the changing of the guard in the U.S. raising hopes of more support for the economy and more aggressive measures to combat the pandemic.

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Referrals were highest in Tokyo, Seoul and Hong Kong, but fell in Shanghai. World markets were subdued on Monday, with US stocks closed for the holidays.

Hong Kong’s Hang Seng gained 1.9% to 29,409.03 and the Nikkei 225 in Tokyo gained 1.4% to 28,633.46. South Korea’s Kospi jumped 2.6% to 3,092.66. In Australia, the S & P / ASX 500 rose 1.2% to 6,742.60. The Shanghai Composite index fell 1.1% to 3,557.99. India’s Sensex jumped 1.3% and shares rose in most other markets, except Malaysia and Indonesia.

Treasury yields have soared with expectations that the US government will borrow much more to pay for the additional stimulus proposed by President-elect Joe Biden, in addition to better economic growth and higher inflation. The 10-year Treasury yield rose above 1% last week for the first time since last spring and briefly exceeded 1.18% this week. The 10-year Treasury yield was 1.11% on Tuesday.

In other trades, the US reference crude oil lost 7 cents to $ 52.35 a barrel in e-commerce on the New York Mercantile Exchange. He gave up from $ 1.20 to $ 52.42 a barrel on Monday.

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Brent crude, the international standard, rose 31 cents to $ 55.06 a barrel.

The dollar rose to 104.02 Japanese yen from 103.69 yen on Monday night. The euro strengthened from $ 1.2078 to $ 1.2098.