Stock futures rise before Yellen’s testimony

US equity futures jumped ahead of a slew of earnings releases and Janet Yellen’s testimony is expected in Support increased spending on coronavirus relief.

S&P 500 futures rose 0.6%, indicating a rally after the opening bell. Those linked to the Nasdaq 100 rose 0.9%, indicating gains in technology stocks.

Earnings season starts on Tuesday, with Goldman Sachs and Bank of America scheduled to release their results before the markets open. Netflix is ​​expected to report back in hours.

Ms. Yellen is scheduled to speak before the Senate Finance Committee at 10 am ET, which will vote on her nomination for the Treasury secretary. According to a transcript of her pre-prepared notes, she plans to tell lawmakers that The United States risks a longer and more painful recession Unless Congress approves more aid, they are encouraged to „work hard” to support the recovery.

President-elect Joe Biden unveiled L. A $ 1.9 trillion fiscal stimulus package Last week, which will include direct payments of $ 1,400 for most families and spending on distributing the vaccine. His passage through Congress is one of the first major tests for the incoming leader, who will be inaugurated on Wednesday.

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