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Old Yellen goes big, Netflix surges on subscriber adds, buybacks, Burberry shares up on margins, Asia

Wed, 20 January 2021 | Written By: Neil Wilson Neil is chief market analyst for Markets.com and also writes for the Investors Chronicle as ‘The Trader’, with the daily market outlook published online each morning. Old Yellen goes big, Netflix surges on subscriber adds, buybacks, Burberry shares up on margins, Asia Shares traded mostly higher in Europe following a positive start on Wall Street on Tuesday as traders returned from the three-day weekend to some upbeat earnings from Goldman Sachs and Bank of America to send the S&P 500 up 0.81% and the Nasdaq +1.53%. Janet Yellen’s Senate hearing confirmed that that stimulus is the order of the day and ‘fiscal sanity’ will be discussed, but not yet. She stressed that worrying about battered finances and raising taxes – the ‘who’s going to pay for it all’ question that MMT’ers say we should not be asking – would be for another day once the economy has recovered. By some measures that could mean years, but it underlines that the new administration is pushing for maximum relief and a period of fiscal expansion. I doubt she’ll ever admit to fully embracing MMT, but we in many ways already there.

Tax hikes necessary during Biden presidency: Goya CEO

Goya Foods President and CEO Bob Unanue argued on Wednesday that taxes “will have to go up” during Joe Biden’s presidency because “you can't put millions of people out of work and then throw trillions of dollars to try and resolve the problem with money.” Unanue made the comments on “Mornings with Maria” one day after Treasury Secretary nominee Janet Yellen’s Senate testimony on Capitol Hill where she reportedly said President-elect Joe Biden and his economic team are currently focused on providing quick relief for American families hit by the coronavirus pandemic and its economic fallout, not raising taxes.

Gold, Crude Oil Outlook: Weaker Dollar and Reflation Hopes Underpin Prices

Gold, Crude Oil Outlook: Weaker Dollar and Reflation Hopes Underpin Prices GOLD, CRUDE OIL PRICE OUTLOOK: Gold prices are working on a three-day rally to US$ 1,850, up nearly 2.5% from Monday’s lows WTI crude oil prices jumped 2% on Yellen’s push for fiscal stimulus, which raises reflation hopes A weakening US Dollar and stimulus hopes may continue to support commodity prices Gold prices climbed for a third day as the US Dollar fell alongside Treasury yields, alleviating pressure on precious metal prices. Last night, US Treasury Secretary nominee Janet Yellen boosted market confidence by showing her support for Biden’s US$ 1.9 trillion stimulus package in the Senate confirmation hearing. Yellen’s comments revitalized hopes for reflation and brightened the prospects for economic recovery, sending risk assets broadly higher alongside gold and crude oil prices.

Tőzsde - Emelkedéssel nyitottak a New York-i indexek

Gold Price Analysis: XAU/USD's downside appears cushioned ahead of Yellen's hearings – Confluence Detector

Having tested the $1800 level, Gold (XAU/USD) extends Monday’s swift recovery ahead of the much-awaited Treasury Secretary nominee Janet

S&P 500, ASX 200, Nikkei 225 Rise on Weaker USD, Yellen's Testimony in Focus

S&P 500 futures are climbing alongside the Nikkei 225 and ASX 200 indices on Tuesday, setting a positive tone for Asia-Pacific trade. The US Dollar weakened ahead of Treasury secretary nominee Jane...

Emerging Markets: Thailand has big jump in sock market; S. Korea leads Asia stock gains on auto boost

SINGAPORE, Jan 19 (Reuters): South Korean shares jumped nearly 3% on Tuesday after steep losses in the previous session as gains in heavyweight auto shares provided a boost, with investors also eyeing prospects for more stimulus to support an economic recovery.

Another day of consolidation - MarketPulse

[뉴욕-외환]달러지수 0.3% 하락…옐런發 리플레이션 트레이드 재개