European stocks rose after trade and transport links between the U.K. and its neighbors looked set to resume and Brexit negotiators made a final push for a deal.
The Stoxx 600 Index rose as France agreed to end a suspension that crippled Britain’s busiest port after a new virus variant sparked more severe lockdowns. The pound advanced as the EU’s chief Brexit negotiator said the twosides were ready to make “a final push.” Most Asian stocks climbed.
U.S. equity futures edged higher with stocks, reversing a decline of as much as 0.7% after President Donald Trumpattacked the coronavirus relief bill. The president is demanding that lawmakers increase the stimulus checks due to go out to most Americans to $2,000 from $600 just a day after Congress passed the $900 billion bipartisan package.
The dollar slipped and Treasury yields were steady.
The president’s comments have the potential to cast fresh jitters on markets as investors weigh how long it will take for the spending package to become law and for the money to be distributed to Americans. House Speaker Nancy Pelosi seized on Trump’s call for larger individual stimulus checks and said the House would try to pass this additional measure during a pro forma session on Thursday.
“For now, markets appear to be holding off pressing the sell button until the situation clarifies,” said Jeffrey Halley, senior market analyst for Asia Pacific at Oanda.
Elsewhere, gold climbed while crude oil retreated.
Here are some key events coming up:
- EIA crude oil inventory report is due Wednesday.
- U.S. jobless claims, durables, personal income data comes Wednesday.
- U.S. bond and stock trading and markets in other parts of the world will shut early on Thursday for the Christmas holidays. Most global markets are shut Friday.
Here are the main moves in markets:
- Futures on the S&P 500 Index climbed 0.2% as of 8:18 a.m. London time.
- The Stoxx Europe 600 Index increased 0.5%.
- The MSCI Asia Pacific Index advanced 0.7%.
- The MSCI Emerging Market Index gained 0.6%.
- The Bloomberg Dollar Spot Index fell 0.3%.
- The euro increased 0.1% to $1.2179.
- The British pound jumped 0.4% to $1.3419.
- The onshore yuan strengthened 0.1% to 6.537 per dollar.
- The Japanese yen strengthened 0.2% to 103.46 per dollar.
- The yield on 10-year Treasuries decreased less than one basis point to 0.91%.
- The yield on two-year Treasuries gained less than one basis point to 0.12%.
- Germany’s 10-year yield sank one basis point to -0.60%.
- Britain’s 10-year yield declined less than one basis point to 0.179%.
- Japan’s 10-year yield advanced less than one basis point to 0.012%.
- West Texas Intermediate crude declined 0.7% to $46.70 a barrel.
- Brent crude dipped 0.6% to $49.77 a barrel.
- Gold strengthened 0.4% to $1,868.85 an ounce.
— With assistance by Moxy Ying, and Ishika Mookerjee
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