SPDR S&P 500 ETF (ETF: SPY), SPDR Dow Jones Industrial Average ETF (ETF: DIA) – Global Markets Rejoice Call for Stimulus Janet Weellen, Dollar Weaknesses, Bitcoin Back At $ 35K

Major indices around the world traded higher on Wednesday following the comments of next US Treasury secretary nominee Janet Yellen calling for a larger stimulus package on Tuesday.

Future: Dow futures are up 0.11%, and S&P 500 futures are trading higher 1.06% at last check on Wednesday. WTI crude futures are up 1.23% to $ 53.63, and gold futures are trading higher 0.79% at $ 1,854.70. The 10 year Treasury yield is unchanged at 1.092%. VIX futures are up 8.07% to 25.10.

Cryptocurrency: Bitcoin is trading lower 5.72% at $ 35,166 at the last check, and Ethereum is down 1.73% at $ 1,355.70 after hitting an all-time high. Ethereum is the second-largest cryptocurrency by market cap, and has been boiled down by an ecosystem of decentralized finance.

Asia: Japan’s Nikkei 225 closed lower 0.38%, as gains in mining stocks were offset by losses in airlines and bank stocks. Japan has a busy economic calendar for Wednesday with a focus on PPI, trade balance, and foreign investment data. Bettingly, the Bank of Japan could release the interest rate decision today.

China Composite China closed higher by 0.47% after People’s Bank of China held the default loan rate unchanged at 3.85%. Commodity and industrial stocks rose Wednesday, partially offset by a fall in bank stocks.

Australia’s S & P / ASX 200 closed higher 0.41%, near its 11-month peak, on optimism of domestic corporate earnings. The continent’s unemployment data is due today.

Hong Kong’s Hang Seng gained 1.08%. Alibaba Group Holding Ltd. Shares (NYSE: BABA) gained 8.5% in Hong Kong after its founder Jack Ma made a public online appearance after months.

India’s Nifty 50 index is trading up 0.92%, driven by earnings in autos, PSU banks, and technology shares. Tata Motors (NYSE: TTM) rallied 6.2% at press time after the company announced it was acquiring 98 patents related to electric and related vehicles.

KOSPI South Korea advanced 0.71%, with PPI data in question.

Europe: Euro Stoxx 50 is trading higher 0.51% at the time of publication. The block’s economic sentiment for January rose to 58.3, and November’s construction output grew 1.41% month-over-month. CPI data is expected to release today.

London’s FTSE 100 is trading near flat at press time following December’s CPI growth of 0.3% MoM and PPI input growth of 0.8% MoM.

Germany’s DAX is trading higher 0.59% after PPI grew 0.8% MoM. Car stocks push the index up with Daimler AG (OTC: DDAIF) up 2.1%, as Warburg Research analyst Marc Rene Tonn maintained a Buy rating on the stock.

France’s CAC 40 is up 0.49%, while Spain’s IBEX 35 is trading higher 0.12% at the time of issue.

Forex Trading: The future of the US Dollar Index is down 0.06% to 90.422. The dollar has weakened 0.46% against the Sterling Pound, 0.10% against the Japanese Yen, and 0.15% against the Chinese Yuan, but gained 0.03% against the Euro.

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