(Bloomberg) — European stocks dropped and gold approached a seven-year-high as Germany reported a jump in new virus cases. U.S. equity futures advanced.Wirecard AG, Deutsche Lufthansa AG and Glencore Plc led losses in the Stoxx Europe 600 Index. Hong Kong stocks slumped after China moved to tighten oversight of the city. Treasuries and the dollar were little changed. Crude oil hovered below $40 a barrel in New York.In Turkey, the benchmark equities index erased its 2020 losses, lifted in a rally driven mostly by a wave of buying from local investors. Market sentiment remains vulnerable to any sign of setbacks as governments gradually ease coronavirus lockdowns and travel restrictions to revive growth while attempting to control the spread of the virus. In the U.S., California reported record new cases and Florida infections jumped more than the weekly average. “Shares remain technically overbought and vulnerable to a further correction or period of consolidation, but we continue to see it as a pause in a rising trend,” said Shane Oliver, a global investment strategist at AMP Capital Investors Ltd. “Fear about a second wave of coronavirus cases continues.”Here are some key events coming up:MSCI Inc. on Tuesday announces its market classification review for 2020.The IMF will release new 2020 growth projections on Wednesday.U.S. jobless claims, durable goods and GDP data are due Thursday.A rebalance of Russell indexes is due on Friday.These are the main moves in markets:StocksFutures on the S&P 500 Index gained 0.5% as of 8:15 a.m. London time.The Stoxx Europe 600 Index advanced 0.6%.The U.K.’s FTSE 100 Index fell 0.8%.The MSCI Asia Pacific Index increased 0.2%.The MSCI Emerging Market Index climbed 0.6% to 1,001.36.CurrenciesThe Bloomberg Dollar Spot Index slipped 0.1% to 1,219.45. The euro climbed 0.2% to $1.1196.The British pound jumped 0.3% to $1.2386.The onshore yuan weakened 0.1% to 7.079 per dollar.The Japanese yen weakened 0.1% to 106.95 per dollar.BondsThe yield on 10-year Treasuries dipped less than one basis point to 0.69%.The yield on two-year Treasuries gained less than one basis point to 0.19%.Germany’s 10-year yield fell one basis point to -0.42%.Britain’s 10-year yield jumped one basis point to 0.238%.Japan’s 10-year yield sank one basis point to 0.01%.CommoditiesWest Texas Intermediate crude fell 0.6% to $39.53 a barrel.Brent crude gained 0.2% to $42.29 a barrel.Gold strengthened 0.2% to $1,747.87 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.
