U.S. Futures Advance While Europe Stocks Fluctuate: Markets Wrap
“U.S. equity futures pushed higher on Wednesday and European stocks swung between losses and gains as investors weighed positive signals on the outlook for reopening against fresh outbreaks of the coronavirus. Treasuries and the dollar dropped. Contracts on three main America equity gauges accelerated gains in the European morning, with traders looking beyond Tuesday’s reports that questioned progress in Moderna Inc.’s coronavirus vaccine. Facebook Inc. climbed in the premarket after outlining steps for employees to return to work in July. The Stoxx Europe 600 Index erased an early decline, with Experian Plc among the top advancers after the Irish credit-services firm weathered the pandemic better than analysts expected.”
ECB Finally Hears EU Cavalry Coming to Help Its Crisis Fight
“The European Central Bank is on the verge of finally getting proper help from politicians to fight the region’s economic battles, even if it stays alone on the front line for now. The proposal by German and French leaders for a 500 billion-euro ($546 billion) aid package to help the European Union shake off the coronavirus pandemic is seen by analysts as a significant step toward a stronger common fiscal policy, complementing the euro’s monetary foundations.”
China’s New Outbreak Shows Signs the Virus Could Be Changing
“Chinese doctors are seeing the coronavirus manifest differently among patients in its new cluster of cases in the northeast region compared to the original outbreak in Wuhan, suggesting that the pathogen may be changing in unknown ways and complicating efforts to stamp it out. Patients found in the northern provinces of Jilin and Heilongjiang appear to carry the virus for a longer period of time and take longer to test negative, Qiu Haibo, one of China’s top critical care doctors, told state television on Tuesday.”
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