Home Finance U.S. Futures Slip With Stocks; Bonds Rise on ECB: Markets Wrap

U.S. Futures Slip With Stocks; Bonds Rise on ECB: Markets Wrap

(Bloomberg) — U.S. equity futures declined with European stocks and most Asian shares on Thursday as investors started to look past stimulus packages to the mounting human impact of the coronavirus outbreak. Government bonds and the yen advanced.Contracts on all three main American equity benchmarks slipped as the U.S. death toll from the pandemic topped 1,000. The Stoxx Europe 600 Index dropped led by real estate and energy companies. Japanese shares closed almost 2% lower amid further efforts to contain the movement of people. Equities in Australia and India rallied, bucking the broader trend.European sovereign debt rose after the region’s central bank announced it will scrap limits on bond purchases for its emergency program, a landmark decision that gives it almost unlimited firepower to fight the economic fallout from the virus. The euro strengthened as a gauge of the dollar headed for a third day falling.U.S. and global stocks just posted their first back-to-back gains since before the bear market began, in part thanks to optimism over a $2 trillion rescue plan for the American economy. The Senate has passed the stimulus bill and sent it to the House, which was scheduled to vote on the legislation Friday. But President Donald Trump had urged Congress to act “without delay” and said he would sign it immediately.The measures across major economies are unprecedented, yet traders remain cognizant of the virus’s escalating toll. The world’s cases now top 451,000 with more than 20,000 deaths.“Investors need to remain vigilant about how the growth rate of new cases develops and how governments respond going forward,” said Oliver Blackbourn, a multi-asset portfolio manager at Janus Henderson Investors. “The support package should help to assuage the fears about the worst possible economic outcomes for individuals and companies.”Elsewhere, oil declined after three days of gains. Gold edged lower. Emerging-market shares and currencies climbed.These are the main moves in markets:StocksFutures on the S&P 500 Index decreased 1.4% as of 6:25 a.m. New York time.The Stoxx Europe 600 Index dipped 1.7%.The MSCI Asia Pacific Index advanced 0.2%.CurrenciesThe Bloomberg Dollar Spot Index decreased 0.5%.The euro increased 0.6% to $1.0944.The British pound advanced 0.1% to $1.1885.The Japanese yen gained 1.1% to 110.01 per dollar.BondsThe yield on 10-year Treasuries decreased seven basis points to 0.80%.Germany’s 10-year yield dipped four basis points to -0.30%.Britain’s 10-year yield fell four basis points to 0.411%.CommoditiesGold decreased 0.1% to $1,615.80 an ounce.West Texas Intermediate crude decreased 2% to $23.99 a barrel.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.

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