(Bloomberg) — Stocks and S&P 500 equity futures rose on signs of a progress in coronavirus treatments and a thaw in U.S. and China relations.BT Group rallied 8% to lead gains in the Europe Stoxx 600 Index, and Asian shares advanced. Hong Kong shares outperformed, aided by a rally in WeChat owner Tencent Holdings Ltd. The 10-year yield on New Zealand bonds fell to a record low after the central bank fell short of its quantitative easing buying target. Treasuries and the dollar were steady.People familiar with the matter said President Donald Trump’s team is privately seeking to reassure U.S. companies that they can still do business with the WeChat messaging app in China. Over the weekend, Trump also moved to expand access to a virus treatment involving blood plasma from recovered patients.Governments continue to tread a fine line between easing lockdowns to revive growth and controlling any resurgence of virus cases. The pandemic passed two milestones: 800,000 deaths and 23 million cases. U.S. infections showed signs of stabilization but concern is growing in Europe and parts of Asia.The Federal Reserve is holding its annual Economic Policy Symposium — typically held in Jackson Hole, Wyoming — on Aug. 27-28 via livestream. Chair Jerome Powell takes the virtual stage on Thursday to speak about the Fed’s long-awaited monetary policy framework review, which has focused on a new inflation strategy.“More clarity will no doubt be sought via this week’s Jackson Hole Symposium,” said Ben Emons, managing director for global macro strategy at Medley Global Advisors. “Meanwhile, we expect the enforcement meeting to proceed smoothly within the next several weeks,” he said, referring to the expected U.S.-China trade pact review that was delayed earlier this month.Meanwhile, storms Marco and Laura rolled toward the U.S. Gulf Coast, where they’ll come ashore as hurricanes as soon as Monday. The threat prompted evacuations of off-shore energy platforms and set residents and officials on edge from Texas to Florida.Here are some key events coming up:Earnings from companies including, ICBC, PetroChina, HP Inc., Royal Bank of Canada, Best Buy and Dollar General.The U.S. Republican National Convention takes place, with President Donald Trump speaking the final day, Aug. 27.The Bank of Korea sets monetary policy and will hold a briefing on Thursday.Fed Chair Jerome Powell speaks at event on Thursday.These are the main moves in markets:StocksFutures on the S&P 500 Index climbed 0.6% as of 8:32 a.m. London time.The Stoxx Europe 600 Index surged 1.4%.The MSCI Asia Pacific Index increased 0.7%.The MSCI Emerging Market Index gained 0.9%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.1%.The euro rose 0.1% to $1.1811.The British pound was little changed at $1.3091.The Japanese yen was little changed at 105.83 per dollar.The offshore yuan strengthened 0.2% to 6.9092 per dollar.BondsThe yield on 10-year Treasuries gained less than one basis point to 0.63%.The yield on two-year Treasuries gained less than one basis point to 0.15%.Germany’s 10-year yield jumped one basis point to -0.50%.Britain’s 10-year yield dipped less than one basis point to 0.203%.Japan’s 10-year yield fell one basis point to 0.027%.CommoditiesWest Texas Intermediate crude rose 0.9% to $42.64 a barrel.Brent crude climbed 0.9% to $44.67 a barrel.Gold strengthened 0.4% to $1,947.40 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Not everyone has time to shop around (not to mention most people have no desire to shop in stores at all right now) and look for the newest items on the market that could appeal to the loved ones and colleagues on their gift-giving lists. (Or for themselves, because let’s be honest, we look at […]
The retail financial services sector has welcomed the UK-EU trade deal announced on Christmas Eve but warned that many question remain on the future of the financial services sector post-Brexit. The deal covers trade in goods but not yet services, including financial services. Huw Evans, director general of the Association of British Insurers, said the […]
Project management is a system of knowledge, skills, and tools that a manager can make use of to deliver his projects effectively. Entrepreneurs, on the other hand, earn money that is commensurate to their efforts. Hold the competition between 5-6 teams and the one who reaches the finish line without stepping on any of the […]