(Bloomberg) — Stocks rose across most major global markets as investors cheered the latest breakthrough in trade negotiations between America and China and the start of stimulus talks in Europe. Treasuries edged lower.The benchmark S&P 500 rose for a second day as reports that China plans to accelerate purchases of American farm goods to comply with the phase one trade deal boosted risk appetite. Still, with uncertainty over how quickly economies can emerge from lockdowns, and a welter of options set to expire in a quarterly event know as quadruple witching, investors are bracing for potential bouts of volatility. Trading was 17% higher than the 30-day average at this time of day.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.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.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.
