World markets were mostly higher Tuesday as the coming changing of the guard in the U.S. raised hopes for more support for the economy and more aggressive measures to fight the pandemic.
Benchmarks were higher in Paris, London, Tokyo and Hong Kong but slipped in Shanghai. World markets were subdued on Monday, with U.S. exchanges closed for a holiday.
Analysts say attention is focused on Wednesday’s inauguration of Joe Biden as president.
Signaling determination to move swiftly, Biden’s nominee for treasury secretary, former Federal Reserve chair Janet Yellen, is urging Congress to do more to fight the recession to avoid an even worse downturn.
In testimony prepared for her confirmation hearing Tuesday before the Senate Finance Committee, Yellen said more aid is needed to get coronavirus vaccines distributed — key to ending outbreaks — to reopen schools and to help families…