The Stoxx 600 Index gained 0.5% as France lifted a blockade that had crippled Britain’s busiest port following the emergence of a new virus variant. Travel firms and automakers led gains, with Daimler rising as much as 3.1% on a report the German carmaker is considering an initial public offering of its truck unit.
The pound advanced as the EU’s chief Brexit negotiator said the two sides were ready to make “a final push” before the Dec. 31 deadline, after the bloc rebuffed the U.K.’s latest concession on fishing rights.
U.S. equity futures edged higher, reversing a decline of as much as 0.7% after President Donald Trump attacked 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 in the same week that Congress passed the $900 billion bipartisan package. The dollar slipped.
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 rose while crude oil reversed an earlier decline.
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:
Stocks
- Futures on the S&P 500 Index climbed 0.3% as of 10:30 a.m. London time.
- The Stoxx Europe 600 Index increased 0.4%.
- The MSCI Asia Pacific Index advanced 0.7%.
- The MSCI Emerging Market Index gained 0.6%.
Currencies
- The Bloomberg Dollar Spot Index fell 0.3%.
- The euro increased 0.2% to $1.2184.
- The British pound jumped 0.5% to $1.3429.
- The onshore yuan strengthened 0.1% to 6.536 per dollar.
- The Japanese yen strengthened 0.2% to 103.42 per dollar.
Bonds
- The yield on 10-year Treasuries advanced one basis point to 0.92%.
- The yield on two-year Treasuries gained less than one basis point to 0.12%.
- Germany’s 10-year yield increased less than one basis point to -0.59%.
- Japan’s 10-year yield advanced less than one basis point to 0.012%.
- Britain’s 10-year yield jumped one basis point to 0.195%.
Commodities
- West Texas Intermediate crude increased 0.3% to $47.16 a barrel.
- Brent crude climbed 0.3% to $50.21 a barrel.
- Gold strengthened 0.3% to $1,867.15 an ounce.