Future U.S. stock markets have advanced in the face of a series of benefit communications and Janet Yellen’s testimony in which she is expected to support greater spending on coronavirus relief.
Futures tied to the S&P 500 rose 0.6%, pointing to a rebound after the initial bell. Those linked to the Nasdaq-100 added 0.9%, suggesting an increase in technology stocks.
The earnings season kicks off on a high note, with Goldman Sachs and Bank of America scheduled to post their results before the markets open. Netflix is expected to report after hours.
Ms. Yellen is scheduled to speak before the Senate Finance Committee at 10 a.m. Eastern Time, which will vote on her nomination as Secretary of the Treasury. According to a copy of his prepared statements, he plans to tell lawmakers that the United States risks a longer and more painful recession unless Congress approves more aid and encourage them to “act largely” to drive recovery. .
President-elect Joe Biden unveiled a plan for a $ 1.9 trillion fiscal stimulus package last week, which would include direct payments of $ 1,400 to most households and spending on vaccine distribution. Passing it through Congress is one of the first major tests for the incoming leader, which will open Wednesday.