The Wednesday market minute
- Global stocks gain, dollar prolonged slump as markets react to probable Democratic expansion of Georgia Senate outflows.
- Networks are calling for Raphael Warnock to race against Kelly Loeffler, with Jon Ossoff leading David Perdue at the head of the tight Senate race.
- Tech stocks are driving US markets to lower bets that a Biden government would increase regulation and raise taxes on the dominant sector.
- Benchmark Treasury Note 10-year yields rise more than 1% for the first time in a decade on wagering on loss-making spending as the dollar hits a new two-and-a-half year low against its global currency counterparts.
- Oil tops $ 50 for the first time since March after Saudi Arabia agreed to voluntarily cut production by 1 million barrels a day to rebalance global supplies.
- US stock futures suggest a mixed start to the trading day ahead of 9:45 a.m. Eastern Time PMI data and Congress confirmation of President Elect Joe Biden’s November election victory.
US stock futures …