11/22/2021, 3:30 PM (Source: TeleTrader)
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US opens higher as Biden picks Powell for Fed chair

United States stock indexes started the session higher on Monday after US President Joe Biden announced he is nominating Jerome Powell for his second four-year term as the Federal Reserve chair, with Lael Brainard as vice-chair. Meanwhile, an investment group led by Bain Capital and Hellman & Friedman said it is acquiring Athenahealth for $17 billion. Investors will also be looking out for the October report on existing home sales.

Dow Jones added 0.35% at 9:30 am ET as Nike Inc. grew by 0.55%. The Nasdaq 100 increased by 0.44% with Tesla Inc. jumping 4.55%. the S&P 500 gained 0.42%, led by Wells Fargo & Co., which improved by 3.83%.

The euro traded 0.44% lower compared to the dollar, going for 1.12398 at 9:33 am ET.

Baha Breaking News (BBN) / DJ