(Bloomberg) — Stocks rose with U.S. equity futures on Friday as investors shrugged off fears over a second wave of coronavirus infections that had spurred caution earlier in the week. Treasuries held their gains, while the dollar slipped.The Stoxx Europe 600 Index climbed, led by banks and travel companies, as attention turned to Friday’s negotiations over the European Union’s proposed 750 billion-euro ($840 billion) program to help economies rebound from the Covid-19 lockdown. Contracts on the three main American stock gauges extended gains after China said it plans to accelerate purchases of American farm goods to comply with the phase one trade deal.Still, with investors weighing a resurgence of cases, and a welter of options set to expire later Friday, investors are bracing for potential bouts of volatility. The quarterly event know as quadruple witching usually coincides with a re-balancing of major indexes and can spark some of the busiest trading days of the year.Meanwhile, despite the latest reports, Sino-American tensions continue to simmer, with President Donald Trump saying on Thursday the U.S. could pursue a “complete decoupling from China” in response to unspecified conditions.“No one at this point, analysts, companies, strategists, portfolio managers, has a great sense for what earnings will be in 2020 or in 2021,” Kate Moore, head of thematic strategy at BlackRock Inc., said on Bloomberg TV. “We are experiencing a lot of dislocations in the economy and consumption patterns and it is pretty difficult to predict.”Elsewhere, crude oil rose, poised to resume a run of weekly gains on signs consumption is picking up as economies emerge from lockdowns. Asian equity markets edge higher, with stocks in Hong Kong leading the advance.These are some of the main moves in markets:StocksFutures on the S&P 500 Index increased 0.5% as of 8:21 a.m. London time.The Stoxx Europe 600 Index rose 0.6%.The MSCI Asia Pacific Index climbed 0.3%.The MSCI Emerging Market Index gained 0.6%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.2%.The euro increased 0.1% to $1.1216.The British pound gained 0.1% to $1.2442.The onshore yuan strengthened 0.2% to 7.076 per dollar.The Japanese yen strengthened 0.1% to 106.89 per dollar.BondsThe yield on 10-year Treasuries rose one basis point to 0.71%.The yield on two-year Treasuries increased less than one basis point to 0.19%.Germany’s 10-year yield was unchanged at -0.41%.Britain’s 10-year yield jumped one basis point to 0.235%.Japan’s 10-year yield declined less than one basis point to 0.015%.CommoditiesWest Texas Intermediate crude rose 2.2% to $39.71 a barrel.Brent crude increased 2% to $42.35 a barrel.Gold strengthened 0.5% to $1,730.92 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.
