U.S. equity markets rallied Tuesday in President Trump’s final full day in office as traders awaited Treasury Secretary nominee Janet Yellen’s Senate testimony on Capitol Hill.


The Dow Jones Industrial Average gained 250 points, or 0.81%, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite advanced 0.79% and 1.02%, respectively. The major averages were closed Monday in observance of Martin Luther King Jr. Day.

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Yellen, the former Federal Reserve chair, will appear before the Senate Finance Committee Tuesday for her confirmation hearing. Yellen will say Congress needs to "act big" to combat the economic slowdown caused by the COVID-19 pandemic, including extending more aid to families and providing additional money to expedite the distribution of vaccines. Read more at FOX Business