US stock futures climbed ahead of testimony by Janet Yellen in which she hopes to support higher coronovirus relief spending.
The futures tied with the S&P 500 rose 0.8%, pointing to a rally after the opening bell. Those associated with the Nasdaq-100 added 1%, suggesting an increase in tech stocks.
The earnings season went into high gear on Tuesday, with Goldman Sachs and Bank of America releasing their results before the market opened. Netflix is expected to report after hours.
Ms. Yellen is scheduled to speak before the Senate Finance Committee at 10 a.m. ET, who will vote on her nomination for Treasury Secretary. According to a copy of his prepared remarks, he will tell lawmakers that the US is in a longer, more painful recession until Congress approves more aid, and to encourage them to “do bigger things” to ease the recovery. Takes a risk of
President-elect Joe Biden last week unveiled a plan for a $ 1.9 trillion fiscal stimulus package, which would include direct payments of $ 1,400 to most families and spending on vaccine delivery. Passing it through Congress is one of the first major examinations for the incoming leader, which will be inaugurated on Wednesday.