(Bloomberg) – Stocks in Europe rose with US equity futures as investors weighed in on the prospect of further stimulus against a number of gains and the continued spread of coronavirus. The dollar went up.
Banks and carmakers pulled the Stoxx Europe 600 Index lower in the open. Contracts on the three major U.S. equity gauges indicated modest losses on Wall Street, following an advance on Wednesday that was hampered by the Federal Reserve’s promise to use all its tools to sustain the economic recovery.
The total SE has risen after posting better-than-expected results thanks to gains in trade that offset a drop in oil prices. Anheuser-Busch InBev NV rose on the results which showed a return to growth following the reopening of the bars in the major markets. Apple Inc., Amazon.com Inc. and Alphabet Inc. they are due to report earnings afterwards.
As the pandemic continues to reign, governments will have to double on the $ 11 trillion stimulus and unprecedented central bank support that has been released since the crisis began. The Fed has kept rates spread nearly zero since the outbreak began in March and has scheduled several emergency lending programs aimed at fostering liquid trading conditions in financial markets.
The Fed “is committed to doing everything it can to support the economy and keep the liquidity environment highly accommodating,” said Margaret Yang, a DailyFX strategist at Bloomberg TV. The results on Thursday from major technology firms will be “very critical to market sentiment, so if those companies lose the profit target then market sentiment could ease.”
Elsewhere, oil fell below $ 41 a barrel after data showed the largest decline in U.S. crude inventories this year. The dollar has been bolstered by investors seeking security against the revival in coronavirus around the world.
Here are some of the following key events:
Apple, Amazon.com, Alphabet reports Thursday’s earnings; results from Chevron Corp. and Caterpillar Inc. are due Friday.US in the second quarter of GDP is due on Thursday. China’s PMI data comes Friday.
These are some of the key steps in the markets:
Futures on the S&P 500 Index fell 0.6% from 8:22 am London time. The Stoxx Europe 600 Index fell 0.6%. Germany’s DAX Index fell 1.3%. The MSCI Asia Pacific Index fell 0.1%.
The Bloomberg Dollar Spot Index gained 0.2%. The euro fell 0.3% to $ 1.1756. The Japanese yen weakened 0.1% to 105.05 per dollar. The British pound fell 0.3% to $ 1.2963.
The yield on 10-year Treasuries decreased a basis point to 0.56%. The 10-year yield in Germany fell by two basis points to -0.52%. Britain’s 10-year yield fell two basis points to 0.1%.
Intermediate crude in West Texas fell 0.8% to $ 40.92 a barrel. Weakening weakened 0.8% to $ 1,954.21 an ounce.
bloomberg.com“data-reactid =” 44 “> For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 45 “> Subscribe now to stay ahead with the most trusted business news source.
© 2020 Bloomberg LP