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US stock futures rise and oil nears 1-year high as investors shrug off Donald Trump impeachment and cheer stimulus
US stock futures rise and oil nears 1-year high as investors shrug off Donald Trump impeachment and cheer stimulus
Harry RobertsonJan 13, 2021, 15:47 IST
Vice President Mike Pence signaled he would not seek to remove President Donald Trump from officeCarlos Barria/Reuters
US stock futures rose, as investors looked past the likely
impeachment of President Donald Trump towards the
stimulus expected under the administration of Joe Biden.
Oil prices rose again, approaching a 1-year high, as investors bet vaccines and stimulus would increase energy demand.
Dow misses out on record high as Wall Street avoids back-to-back losses MarketWatch 1/12/2021
MARKET SNAPSHOT
U.S. stocks finished slightly higher Tuesday as investors weighed a further rise in bond yields and worries over the resurgence of of the COVID-19 pandemic against prospects for more economic aid from the incoming administration of President-elect Joe Biden and a 2021 economic recovery.
Stocks pulled back Monday after ending last week at record levels. The tech-heavy Nasdaq Composite led the way lower, falling 1.3%, while the Dow fell 0.3% and the S&P 500 declined 0.3%.
Stocks clung to gains as investors watched a rise in U.S. government bond yields this month. A Treasury market selloff saw the 10-year Treasury note BX:TMUBMUSD10Y recording its largest weekly rise since June in the past week and the spread between the 10-year and 2-year yields a measure of the yield curve briefly hit its widest levels since 2017.
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