(Bloomberg) -- European stocks rose and U.S. equity futures eked out gains, trimming declines at the end of a week dogged by concern about a second wave of coronavirus infections and simmering tension between America and China. Oil climbed and Treasuries drifted.
The Stoxx Europe 600 Index climbed led by mining and energy companies after missing a late rebound on Wall Street a day earlier. Futures contracts on the three main U.S. equity gauges pointed to more modest gains at the open, while Asian shares were mixed after data showed a rebound in Chinese industrial production but a deeper than expected drop in retail sales. Crude extended its recent advance amid signs the market is slowly rebalancing.
It’s been a choppy week for investors as they grapple with the ongoing fallout of the coronavirus. Countries that had enjoyed success quelling the pandemic, including South Korea and China, now face a rise in cases, underscoring the tough choices policy makers face as they try to resuscitate their economies. In the U.S., Texas saw its deadliest day and its biggest increase in new cases since the start of the outbreak -- two weeks into reopening. Data on Friday showed the German economy shrank 2.2% in the first quarter, the most in more than a decade.
Meanwhile, flaring U.S.-China tensions have added a note of caution to markets this month after a sharp rally lifted equity prices across the globe. President Donald Trump said in remarks broadcast Thursday that he doesn’t want to talk to his Chinese counterpart Xi Jinping right now.
These are some of the main moves in markets:
Stocks
Futures on the S&P 500 Index climbed 0.3% as of 9:22 a.m. London time.The Stoxx Europe 600 Index advanced 0.9%.The MSCI Asia Pacific Index advanced 0.3%.
Currencies
The Bloomberg Dollar Spot Index was little changed.The euro climbed 0.1% to $1.0815.The British pound declined 0.2% to $1.2209.The Japanese yen strengthened 0.2% to 107.07 per dollar.
Bonds
The yield on 10-year Treasuries declined less than one basis point to 0.62%.Germany’s 10-year yield was unchanged at -0.54%.Britain’s 10-year yield decreased less than one basis point to 0.203%.
Commodities
West Texas Intermediate crude increased 3.2% to $28.44 a barrel.Gold strengthened 0.3% to $1,735.56 an ounce.
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2020-05-15 08:27:00Z
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