U.S. Futures Rise With Stocks; WTI Oil Tumbles: Markets Wrap
“U.S. equity futures climbed alongside stocks in Europe and Asia as major economies edged toward reopening, the Bank of Japan boosted stimulus measures and corporate results rolled in. The dollar weakened and oil slumped again. Contracts for the three main American benchmarks all pointed to gains amid continued talk of easing the lockdowns that have helped contain the coronavirus. The Stoxx Europe 600 Index also rose after Covid-19 deaths slowed in Spain, Italy and France, and all three countries signaled tentative moves to reopen their economies. Italian bonds outperformed after the nation dodged a credit-rating downgrade.”
Euro Traders Are Too Worried About the Future to Mind the ECB
“Traders are far from convinced that this week’s central bank meetings will be a game changer for the euro. Options gauges show that expectations ahead of the Federal Reserve and the European Central Bank reviews are low, even though policy makers are under pressure to do more to support their economies through the coronavirus recession.”
China’s Biggest Bank Halts Retail Products in Commodities
“Industrial & Commercial Bank of China Ltd., the nation’s largest lender, suspended sales of more products that allowed retail investors to speculate on swings in commodities after many were burnt by the unprecedented crash in crude oil.”
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