Global stocks look for vaccine-led recovery, U.S. stimulus

FILE PHOTO: Pedestrians wearing facial masks are reflected on an electric board showing stock prices outside a brokerage at a business district in Tokyo, Japan January 30, 2020. REUTERS/Kim Kyung-Hoon/File Photo

E-Mini futures for the S&P 500 responded by rising 0.5%, while March Treasury bond futures slipped 4 ticks. EUROSTOXX 50 futures added 0.6% and FTSE futures 0.3%. Sterling firmed on both the euro and the dollar after Britain and the European Union agreed to continue talks on post-Brexit trade beyond Sunday’s deadline.

“That said, there is plenty of uncertainty and our economists, given the lack of progress in recent weeks, now see rising risks of a no-deal outcome.” The euro was up 0.2% on Monday at $1.2134 and within striking distance of its recent 31-month top of $1.2177. The dollar index stood at 90.797, near its recent trough of 90.471.

An extra wrinkle is the chance of a U.S. deal on fiscal stimulus after a top Democrat hinted they might compromise to get an agreement past Republican objections.

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