What You Need To Know About The Markets This Week: Biden’s Spending Plans, The Bitcoin Blues, And An Unloved Dollar With The First Fed Meet And A Look At US GDP

Joe Biden was sworn in as the 46th president and wasted no time revealing his spending plans. Here are the big topics we’ll look at over the coming week, plus a graphical representation of how big tech is performing around the world. With the swearing in on Wednesday, Biden will become the 46th President of the United States and has got his program off the ground quickly. The proposed $ 1.9 trillion stimulus package was enough to make more all-time highs in global equity markets, with records in the S&P 500, MSCI Asia ex-Japan index and European STOXX 600 nearby des where he was when the pandemic broke out last year, despite an alarming increase in COVID-19 cases and new lockdowns. Janet Yellen, Biden’s election as Treasury Secretary, urges the new administration to spend lots of money and worry about any debts that will inevitably arise later. How much the final package will cost, how these products will be sold, and what direct impact this will have on growth remains to be seen. However, it is enough for the stock market to look beyond uncomfortable economic truths, such as nearly a million Americans still filing for unemployment benefits weekly. A number of other indicators have shown that the recovery is resilient as housing construction hits 14-year highs and manufacturing activity in the mid-Atlantic region climbs to three highs Month.