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Dow Jones Up on Yellen Stimulus Push; Hang Seng and ASX 200 May Climb


Dow Jones Up on Yellen Stimulus Push; Hang Seng and ASX 200 May Climb
DOW JONES, HANG SENG, ASX 200 INDEX OUTLOOK:
Treasury Secretary nominee Janet Yellen backed Biden’s stimulus plan, sending stocks higher.
US earnings continued to be upbeat; Netflix smashed new subscriber growth forecasts.
Asia-Pacific markets lookset to advance further after Tuesday’s rally.
Dow Jones, Yellen, US earnings, Asia-Pacific at Open:
US equity indices finished broadly higher on Tuesday after Treasury Secretary nominee Janet Yellen showed her support for Biden’s US$ 1.9 trillion fiscal stimulus plan and addressed a market-driven dollar exchange approach in her confirmatioilyauat25n hearing on Tuesday. She also highlighted the need for higher unemployment compensation while opposing tax hikes to help families to weather the pandemic. Yellen’s comments revitalized reflation hopes and lifted crude oil prices, which led the energy sector (+2.63%) to outperform. ....

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Dow Jones Futures Rise with ASX 200, Nikkei 225 on Biden's Stimulus Plan


Dow Jones Futures Rise with ASX 200, Nikkei 225 on Biden s Stimulus Plan
DOW JONES, NIKKEI 225, ASX 200 INDEX OUTLOOK:
US equity futures rebounded after suffering a tech-led pullback in last-hour trading
Asia-Pacific stocks edged higher on reflation hopes at open
Biden proposed a US$1.9 trillion Covid-relief plan that include stimulus checks and funds to fight the pandemic
Dow Jones, Biden’s Relief Package, Jobless Claims, Asia-Pacific at Open:
Federal Reserve Chairman Jerome Powell reiterated the Fed’s dovish stance in a webcast last night, suggesting that the central bank will keep its QE in place for at least 2021 and maintain interest rates unchanged through 2023. Against this backdrop, market focus shifted to Biden’s announcement of a US$ 1.9 trillion Covid-relief proposal, which may include US$ 1 trillion in direct relief to households, US$ 415 billion to assist vaccine rollout and US$ 440 billion to support small businesses and communities. A ....

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