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US markets open higher after a long holiday weekend
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Janet Yellen set to advocate for major fiscal action
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Tesla begins delivering its Model Y in China
US equity markets opened higher following a long holiday weekend in America. Markets caught a bid as Janet Yellen, Biden’s nominee for Treasury secretary, is about to tell lawmakers that they must “act big” in order for the economy to recover. Yellen will appear before the Senate Finance Committee later today. As earnings season in the US accelerates, investors focus on companies’ fourth-quarter performance as well. All major US indices are advancing more than 0.50% at press time. 
US2000 has pushed higher after the index bounced off the lower limit of a local upward channel. Recent all-time highs at 2,160 pts might be seen as the nearest resistance level. In theory, Yellen words could be viewed as positive for small caps, therefore US2000 is rallying the most among major US indices. On the other hand, the 50-hour moving average might serve as the nearest support level (note previous price reactions on the chart above). The area at 2,110 pts is another crucial barrier right now. Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appBank of America (BAC.US) reported fourth-quarter earnings before the opening bell. The bank posted profit of 59 cents a share, while analysts surveyed by Refinitiv expected 55 cents a share. However, the firm’s revenue missed estimates by roughly $500 million and fell 10% YoY to $20.2 billion. BofA said it plans to repurchase $2.9 billion worth of stock.
Bank of America (BAC.US) shares managed to close the gap from February 2020. One might notice that the price reacted to Fibonacci retracement levels. They might be seen as subsequent support levels should the correction occur. Source: xStation5
Tesla (TSLA.US) has begun deliveries of its first Shanghai-made Model Y in China. The company broke ground at its Shanghai plant 2 years ago and the Model Y is the second vehicle produced at the plant.
General Electric (GE.US) aims to freeze pension benefits for 2,800 employees in the United Kingdom - the firm announced. The company said its pension benefit obligation in the UK was about $14 billion at the end of 2020 and the proposal would help the company cut costs.
Boeing (BA.US) - Canada is set to lift a ban on Boeing’s 737 MAX jet tomorrow. As a result, Canada will join other countries allowing the jet to return to service following a grounding, which was caused by fatal crashes.
