Stock Futures Biden trades higher before opening

The US Equity Future was pointing to a high opening on Wall Street before the inauguration of Joe Biden as US President.

Major futures indices suggest a gain of 0.9% for the Nasdaq and 0.3% for the Dow.

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The earnings season continues on Wednesday, with two Dow members – health care giants UnitedHST Group and Procter & Gamble – reporting ahead of the opening bell. Investors will also scrutinize more than investment bank Morgan Stanley.

Wednesday afternoon will feature United Airlines Holdings, Discover Financial and Kinder Morgan.

In Europe, London’s FTSE gained 0.1%, Germany’s DAX gained 0.7% and France’s CAC gained 0.6%.

In Asia, Japan’s benchmark Nikki 225 slipped 0.4%, Hong Kong’s Hang Seng rose 1.1% and China’s Shanghai Composite rose 0.5%.

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Expectations were rising that Biden’s planned stimulus to the US economy – as well as measures to curb the epidemic – would boost regional markets.

The anchor Security last Change Change %
Me: DJI Dow jones average Is 30930.52 +116.26 + 0.38%
SP 500 S&P 500 3798.91 is +30.66 + 0.81%
I: COMP NASDAQ Composite Index 13197.179496 +198.68 + 1.53%

The S&P 500 rose 30.66 points, or 0.8%, to 3,798.91 points on Tuesday, to within 1% of its record high set earlier this month. The Dow Jones Industrial Average rose 116.26 points, or 0.4%, to 30,930.52. The Nasdaq Composite rose 198.68 points or 1.5% to 13,197.18.

The market is growing excitedly about the impending economic recovery as more people are vaccinated with COVID-19 vaccines and Washington agrees to try for another round of economic stimulus.

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Janet Yellen, Biden’s nominee who became Treasury secretary, told the Senate Finance Committee during her confirmation hearing that the incoming administration will focus on winning the quick passage of its $ 1.9 trillion pandemic relief plan.

The plan would include a $ 1,400 cash payment for most Americans. Democrats were also pushing for the rapid rollout of COVID-19 vaccines, a higher minimum wage for workers and increased benefits for laid-off workers. He hopes that such stimulation can propel the economy by the end of this year, when more extensive vaccinations bring life back to parts of normal.

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In energy trading, the benchmark US crude added 61 cents to $ 53.59 per barrel. Brent crude rose 51 cents to $ 56.41 internationally.

The Associated Press contributed to this report.

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