Commodities Oil rose 2.3% closing at $78.50 per barrel as traders doubted Biden's move will take prices lower. Big oil rose in tandem. 

10-year Treasury yield jumped to a one-month high of 1.67%. 

Markit manufacturing PMI came in slightly ahead of estimates at 59.1, but the services PMI missed estimates by two points with a reading of 57. Any reading above 50 indicates an expanding sector. 

Europe, the bourses had a positive run, nudging higher with the German DAX 30 rising by 0.09% to 15,948.43, France's CAC 40 rallied 0.41% to 7,073.65 while Britain’s FTSE 100 slipped 0.46% to close at 7,300.2. The region is still battling with energy crisis and a surging Covid infection rate.