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Dow Jones Up on Yellen Stimulus Push; Hang Seng and ASX 200 May Climb


Dow Jones Up on Yellen Stimulus Push; Hang Seng and ASX 200 May Climb
DOW JONES, HANG SENG, ASX 200 INDEX OUTLOOK:
Treasury Secretary nominee Janet Yellen backed Biden’s stimulus plan, sending stocks higher.
US earnings continued to be upbeat; Netflix smashed new subscriber growth forecasts.
Asia-Pacific markets lookset to advance further after Tuesday’s rally.
Dow Jones, Yellen, US earnings, Asia-Pacific at Open:
US equity indices finished broadly higher on Tuesday after Treasury Secretary nominee Janet Yellen showed her support for Biden’s US$ 1.9 trillion fiscal stimulus plan and addressed a market-driven dollar exchange approach in her confirmatioilyauat25n hearing on Tuesday. She also highlighted the need for higher unemployment compensation while opposing tax hikes to help families to weather the pandemic. Yellen’s comments revitalized reflation hopes and lifted crude oil prices, which led the energy sector (+2.63%) to outperform. ....

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