Stock Market Update

[BRIEFING.COM] The major indices continues to climb amid some political developments from the US and Canada. The Dow Jones Industrial Average trades about 300 points higher than Friday, the Nasdaq Composite is about 370 points higher, and the S&P 500 trades roughly 75 points above Friday's close.

A short time ago, the Federal Reserve Board announced Michael Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision, effective February 28, 2025, and will continue to serve as governor. 

Justin Trudeau announced he will step down as leader of Liberal Party and Canada's Prime Minister after his party selects a successor.

Treasury yields moved lower after the aforementioned news items hit headlines. The 10-yr yield, at 4.64% a short time ago, sits at 4.62% now. The 2-yr yield, at 4.28% earlier, sits at 4.25% now.