US Stock Futures Climb and Bonds Fall as Investors Look Through Congress Protest Chaos Towards Joe Biden Stimulus

US stock futures rose on Thursday, as investors looked past the chaotic scenes on Capitol Hill on Wednesday towards a Joe Biden administration that will have a freer hand to boost fiscal stimulus after the Democrats won two key runoff races in Georgia.

Yields on 10-year US Treasury notes moved higher above 1%, as investors shifted out of safe-haven bonds, despite supporters of President Donald Trump storming Congress on Wednesday in an unprecedented spectacle during which a woman was fatally shot.

The market reaction to the violence was muted, with the S&P 500 and Dow Jones closing higher but the Nasdaq slightly lower.

All three major US indices were set to rise slightly at the opening bell on Thursday. S&P 500 futures were up 0.55%, Nasdaq 100 futures were 0.71% higher and Dow Jones futures climbed 0.36%. Read more…..


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Bill Nygren has been a manager of the Oakmark Select Fund (OAKLX) since 1996, Oakmark Fund (OAKMX) since 2000 and the Oakmark Global Select Fund (OAKWX) since 2006.

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