Stocks bounce back, Yellen testimony eyed, BAC earnings, euro holds gains after ZEW
January 19, 2021SharePrint
Wall Street shows gains
US stocks are off to a strong start as investors focus on President-elect Biden’s COVID relief bill and as earnings season heats up. The US will see more stimulus in Biden’s first 100 days, but the question is will some Republicans in the Senate play ball with the Democrats. It is very unclear how life after President Trump will be, but some Republicans up for re-election in 2022 could take Biden’s USD1.9 trillion plan as an opportunity to distance themselves from the Trump administration. The headline figure will likely come down a bit but if Republicans show a willingness to coordinate with Democrats, risk appetite has not priced that in. Biden’s cabinet appointees grilling in the Senate and the Trump impeachment proceedings will garner much attention, but many political insiders will look to see if some Republicans don’t immedi
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