(Bloomberg) — U.S. equity futures rose alongside global stocks on Friday as investors cheered the latest breakthrough in trade negotiations between America and China and the start of stimulus talks in Europe. Treasuries edged lower.Contracts on the three main U.S. stock gauges pointed to a strong open on Wall Street as reports that China plans to accelerate purchases of American farm goods to comply with the phase one trade deal boosted risk appetite. In Europe, attention turned to negotiations over the EU’s proposed 750 billion-euro ($840 billion) program to help economies rebound from lockdowns, which helped send the Stoxx 600 Index up as much as 1.2% and strengthened the euro.Wirecard AG shares bucked the trend, extending their free-fall into a second day as the German payments company faced a potential cash crunch and Chief Executive Officer Markus Braun resigned.After a brief swoon, equity markets are back in rally mode as investors bet that governments will be able to put their economies back on track with enough stimulus at their disposal. U.S. and European benchmarks have clawed back nearly all of last week’s losses that were spurred by concern over a second wave of coronavirus infections.Still, with uncertainty over how quickly economies can emerge from lockdowns, 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.Elsewhere, crude oil advanced to around $40 a barrel in New York as trading houses Vitol SA and Trafigura Group said global demand is recovering rapidly from its nadir in April.These are some of the main moves in markets:StocksFutures on the S&P 500 Index gained 1.1% as of 8:20 a.m. New York time.The Stoxx Europe 600 Index increased 1%.Germany’s DAX Index rose 1.2%.The MSCI Asia Pacific Index climbed 0.4%.CurrenciesThe Bloomberg Dollar Spot Index declined 0.2%.The Japanese yen strengthened 0.2% to 106.80 per dollar.The British pound fell 0.3% to $1.2384.BondsThe yield on 10-year Treasuries increased two basis points to 0.73%.Germany’s 10-year yield climbed less than one basis point to -0.41%.Britain’s 10-year yield gained two basis points to 0.25%.CommoditiesWest Texas Intermediate crude increased 3.1% to $40.06 a barrel.Gold strengthened 0.6% to $1,734.12 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.
