Daily summary: US markets push higher amid Yellen’s return

• European indices mostly lower

• US stocks advance on Yellen’s return

• Brent above $56 a barrel

Tuesday’s session was rather poor for European equities as most major indices from the Old Continent finished the day lower. Media reported that Angela Merkel reached deal on national lockdown, which is set to be extended until February 14. DAX lost 0.24% while CAC 40 fell 0.33%. Meanwhile, American stocks push higher as Janet Yellen testified before Senate Finance Committee. Ms. Yellen’s return might be seen as positive for risky assets as she aims at major fiscal support. Tech stocks are gaining the most at press time. 

Oil prices caught a bid today. Brent is currently rising 2.17% and for a moment climbed above $56 a barrel. Precious metals prices have been trying to recover as well, silver prices gained 1.60% in the evening. As far as the main currency pair is concerned, the US dollar is weakening against the euro (+0.39%). 

Today’s calendar was rather light. The ZEW Indicator of Economic Sentiment for Germany rose by 6.8 points in January 2021, beating market expectations of 60.0. Apart from that, investors eyed some earnings reports from the United States, including Goldman Sachs or Bank of America. 

Investors will surely focus on several CPI reports tomorrow - from the UK, Canada and the eurozone. Bank of Canada’s rate decision is another noteworthy economic event. As earnings season in the US is accelerating, Netflix will release its results after today’s US session.