1/19/2021, 10:00 PM (Source: TeleTrader)
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US closes higher amid Biden admin hearings

Major stock markets in the United States closed higher on Tuesday amid the nominees for President-elect Joe Biden's administration's hearings before the Senate. Janet Yellen, tapped to become Treasury Secretary, promised she would work "overtime" to make sure the crisis caused by the coronavirus pandemic was overcome, as that was crucial for fiscal sustainability. She also said it was likely the interest rates would remain low in the future "for a long time."

Meanwhile, the Senate heard the nominees for Homeland Security Secretary Alejandro Mayorkas and Director of National Intelligence (DNI) Avril Haines. The hearing of Antony Blinken, tapped to become Secretary of State, is taking place right now.

The Dow Jones Industrial Average closed 0.38% higher as American Express Co. went up by 3.77%. The Nasdaq 100 surged by 1.50%, with Skywork Solutions Inc. jumping by 6.18%. The CAC 40 rose by 0.81% as General Motors Co. grew by 9.75%. Meanwhile, the euro gained 0.39% against the dollar to sell for $1.21244 at 3:57 pm ET.

Baha Breaking News (BBN) / JR