The House of Representatives voted to advance the stimulus bill yesterday, paving the way for President Biden to sign the bill into law today.
As stimulus approval arrived into the market a positive sentiment was evident as the Nasdaq hit a high of 12870, whilst the DOW tested its previous highs before selling off and also the S&P made a weekly high of 3900 before retracing and closing out the day at 3875.
The European indices were similarly mixed as the DAX broke it's all time high but with no significant follow through. The FTSE was also a mixed reaction as it made a session high of 6785 and closed the day at 6725.
Gold outperformed the other asset classes as it picked up steam and closed the day out at 1714 up from a 6 month low of 1683. Brent continues its selloff after hitting its post COVID high of $71, closing out the day at $66.96 before continuing its selloff into the Asian session.
1:50am - Final GDP q/q (JPY)
1:50am - M2 Money Stock y/y (JPY)
9:00am - German Trade Balance (EUR)