World Market News

 Stocks Trim Losses Amid Stimulus Talks, Bank Rally: Markets Wrap

Stocks pared losses as traders awaited news on negotiations over a fresh round of stimulus amid a resurgence in coronavirus cases around the globe. The dollar climbed.

The S&P 500 came off session lows as banks rebounded from a two-day selloff and energy shares rallied. House Speaker Nancy Pelosi told Democrats that a Covid-19 relief package won’t wait until January as she was scheduled to have another call with Treasury Secretary Steven Mnuchin, while President Donald Trump said he’d go over $1.8 trillion in stimulus. Equities slumped earlier in the day as Europe’s biggest cities clamped down to curb the virus, adding to concern that further restrictions could cause more damage to the global economy.

Asian stocks looked set for a mixed start Friday as traders awaited news on U.S. stimulus negotiations and coronavirus cases rose in some parts of the world. U.S. shares edged lower and the dollar climbed. Futures dipped in Japan and Australia, and rose in Hong Kong. The S&P 500 came off session lows as banks rebounded from a two-day selloff and energy shares rallied. House Speaker Nancy Pelosi told Democrats that a Covid-19 relief package won’t wait until January, while President Donald Trump said he’d go over $1.8 trillion in stimulus. Treasuries were steady, while crude oil ticked lower.

tocks Drift Amid Virus Jitters, Stimulus Deadlock: Markets Wrap

Asian stocks and U.S. futures were mixed Friday as investors mulled continued talks over U.S. stimulus and the economic impact of fresh restrictions against the resurgent coronavirus in some parts of the world.

Shares dipped in Tokyo and Sydney and saw modest gains in Seoul. S&P 500 futures edged higher after the benchmark came off its session lows as banks rebounded from a two-day selloff and energy shares rallied. President Donald Trump said he is willing to go beyond the $1.8 trillion offer for relief that’s already been offered, but Senate Majority Leader Mitch McConnell rejected that. Earlier, small-cap shares pushed higher while the Nasdaq underperformed. Elsewhere, Treasuries and the dollar were steady, while crude oil ticked lower.