Markets boosted by fiscal stimulus and economic recovery - Tuesday Review, January 19

Markets boosted by fiscal stimulus and economic recovery - Tuesday Review, January 19

Yellen calls for support on fiscal stimulus, leading markets close higher

The US

Markets closed in the green as Janet Yellen, former Federal Chairwoman, called on lawmakers to support further fiscal stimulus to help the economy.

USA30 rose 0.43%, while USA500 was up 0.86%. TECH100 gained 1.56%.

Crude oil closed 1.34% higher at $53.12 per barrel.

Gold was up 0.7%, trading at $1,841.40 per ounce.

The Dollar Index lost 0.31%, reaching 90.472.

Asia and Australia

Investors continued to be hopeful that the latest COVID-19 lockdowns will not underpin the region's economic recovery, leading the markets to close higher.

HongKong45 closed 1.74% higher after the 12- member advisory panel recommended the approval of COMIRNATY, Pfizer, and BioNTech's COVID-19 vaccine.

Japan225 was up 1.22% ahead of the BOJ's policy decision.

Down under, Australia200 added 1.24%.

Europe

The markets closed in the green, boosted by Joe Biden's inauguration and the upcoming policy decision of the European Central Bank. Europe50 added 0.1%. Germany30 and France40 each traded 0.2% higher. UK100 climbed 0.4%.

Brent oil rose 2.30% to trade at $56.01 a barrel.

EUR/USD closed the session at 1.2128 after it gained 0.43%.

Sources: reuters.com, investing.com

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