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agreed to a breakthrough fiscal stimulus deal to help support the virus-stricken region. The risk rally also sent crude oil prices up more than 2% to more than $42 per barrel.” data-reactid=”16″Stock futures rose Tuesday morning, following global equities higher after European Union leaders agreed to a breakthrough fiscal stimulus deal to help support the virus-stricken region. The risk rally also sent crude oil prices up more than 2% to more than $42 per barrel.
After nearly five days of discussions, the 27 governments comprising the EU agreed to create a 750 billion euro, or $858 billion, recovery fund built through joint borrowing. The agreement will see about half of these funds distributed as grants to the EU states most devastated by the pandemic, while the rest will comprise low-interest loans.
set to meet Tuesday afternoon to begin negotiations, along with other lawmakers.” data-reactid=”18″With terms of the EU stimulus deal secured, market participants will be eyeing Washington, with fiscal stimulus discussions continuing Tuesday and this week before current programs under the more than $2 trillion Coronavirus Aid, Relief, and Economic Security Act are set to expire at the end of the month. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi are set to meet Tuesday afternoon to begin negotiations, along with other lawmakers.
The hopes for more stimulus helped put US equities on track for another session of advances, based on moves in equity futures Tuesday morning. Earlier Monday, the three major US indices closed out the session higher. The Nasdaq Composite posted a 2.5% advance to far outperform the S&P 500 and Dow, with a broad tech rally returning after last week’s pause. Still, the S&P 500’s 0.8% advance on Monday pushed it into positive territory for the year to date and its highest level since February 21.
AZN) shares closed 4% lower before steadying overnight, even after The Lancet medical journal published promising results of a Covid-19 vaccine study by the company and the University of Oxford. Earlier, Pfizer (PFE) and BioNTech (BNTX) reported positive early data from their own Covid-19 vaccine study, sending BioNTech shares higher but Pfizer shares little changed.” data-reactid=”22″Investors on Monday mostly shrugged off updates on the coronavirus vaccine development front, with the race to create an effective, safe inoculation still under way. AstraZeneca (AZN) shares closed 4% lower before steadying overnight, even after The Lancet medical journal published promising results of a Covid-19 vaccine study by the company and the University of Oxford. Earlier, Pfizer (PFE) and BioNTech (BNTX) reported positive early data from their own Covid-19 vaccine study, sending BioNTech shares higher but Pfizer shares little changed.
MRNA), which is developing a vaccine of its own, saw its shares sell off 13% Monday and…
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Read More: Stock futures rise as investors eye stimulus in the EU, US
