Bloomberg
(Bloomberg) -- Tech shares led U.S. stocks higher after Netflix Inc. reported strong earnings. Treasuries edged lower alongside the dollar.The Nasdaq 100 Index jumped more than 1% and the S&P 500 Index rose toward an all-time high. Netflix Inc. surged more than 10% after a jump in subscribers. Chipmaker ASML Holding NV rallied on solid results. Morgan Stanley gained after reporting record full-year results.Investors also kept an eye on Washington, where Joe Biden is set to be sworn in as president. On Tuesday, Janet Yellen promoted a $1.9 trillion Covid-19 relief proposal to lawmakers as she seeks confirmation as Treasury secretary.In Asia, Chinese firms trading in Hong Kong saw the bulk of gains, and the Hang Seng Index approached the 30,000 level. Alibaba Group Holding Ltd. rallied after billionaire Jack Ma resurfaced from months out of public view amid escalating scrutiny over his internet empire.Investors are counting on more spending to help propel economic growth under Biden, who is planning a flurry of executive orders on his first day. Still, it won’t be all smooth sailing, with Yellen encountering early Republican resistance to Biden’s relief plan in her confirmation hearing to become Treasury secretary.Yellen -- who could be confirmed as soon as Thursday -- said that help for the unemployed and small businesses would provide the “biggest bang for the buck.” She urged lawmakers to act in efforts to rescue an economy battered by the coronavirus. She also said the U.S. is prepared to take on China’s “abusive” trade and economic practices, and that the Biden administration won’t pursue a weak dollar.On the virus front, Germany suffered record daily deaths and a study on the South African variant raised concern about the efficacy of vaccines.Elsewhere, crude oil edged higher and gold traded at around $1,840 an ounce.These are some key events coming up:Joe Biden takes office as U.S. president on Wednesday.Policy decisions are due Wednesday from central banks in Brazil and Canada. The Bank of Japan and the ECB deliver decisions Thursday.Here are the main moves in markets:StocksThe S&P 500 Index climbed 0.6% as of 9:31 a.m. New York time.The Stoxx Europe 600 Index gained 0.6%.The MSCI Asia Pacific Index increased 0.5%.The MSCI Emerging Market Index advanced 1%.CurrenciesThe Bloomberg Dollar Spot Index decreased 0.1%.The euro declined 0.2% to $1.2108.The British pound jumped 0.3% to $1.3667.The onshore yuan strengthened 0.2% to 6.468 per dollar.The Japanese yen strengthened 0.1% to 103.82 per dollar.BondsThe yield on 10-year Treasuries jumped one basis point to 1.10%.The yield on two-year Treasuries advanced less than one basis point to 0.13%.Germany’s 10-year yield increased less than one basis point to -0.52%.Britain’s 10-year yield advanced one basis point to 0.3%.Japan’s 10-year yield declined one basis point to 0.049%.CommoditiesWest Texas Intermediate crude advanced 1% to $53.49 a barrel.Brent crude increased 0.7% to $56.29 a barrel.Gold was little changed at $1,841.05 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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