GLOBAL MARKETS-Stocks gain, bond yields jump on potential Democratic control of U.S. Senate

* U.S. stocks rise in late morning New York trading
* U.S. dollar index rises
* Spot gold prices fall

(Updates with early U.S. markets activity, changes dateline,
previous LONDON)
By Caroline Valetkevitch
NEW YORK, Jan 6 (Reuters) - Global stock indexes rose and
10-year U.S. Treasury yields topped 1% for the first time since
March on Wednesday as Democratic control of the U.S. Senate
following Georgia's runoff elections appeared more likely.
The S&P 500 was up more than 1% as investors snapped up
financial and industrial stocks on bets that a
Democrat-controlled Senate would lead to more fiscal stimulus
and infrastructure spending. The Nasdaq was also higher but underperforming the other two
major U.S. indexes on fears of increased regulatory scrutiny of
technology mega-caps if the Democrats gain control of the
Senate.
"What investors are trying to figure out is how quickly the
Democrats would be able to introduce their tax agenda if they
take control of the Senate, and would they be more likely to act
on regulation on big tech," said Quincy Krosby, chief market
strategist at Prudential Financial in Newark, New Jersey.
Democrats won one U.S. Senate race in Georgia and led in
another, moving closer to a sweep in a deep South state that
would give them control of Congress and the power to advance
President-elect Joe Biden's policy goals. A final outcome is not
expected until later on Wednesday. The Dow Jones Industrial Average .DJI rose 531.56 points,
or 1.75%, to 30,923.16, the S&P 500 .SPX gained 47.55 points,
or 1.28%, to 3,774.41 and the Nasdaq Composite .IXIC added
61.46 points, or 0.48%, to 12,880.42.
The pan-European STOXX 600 index .STOXX rose 1.51% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.93%.
With prospects increasing for further economic stimulus
measures, the 10-year yield US10YT=RR was last up 9.7 basis
points at 1.0524%. In the currency market, the dollar bounced after sinking to
its lowest level in nearly three years. The dollar index =USD rose 0.274%, with the euro EUR=
down 0.14% to $1.2277.
Oil prices were higher, while spot gold XAU= dropped 2.3%
to $1,905.18 an ounce.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
US 10-year Treasury yield above 1% https://tmsnrt.rs/3s19rBp
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