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Stocks Fluctuate With U.S. Futures on Virus Report: Markets Wrap

(Bloomberg) — American stock futures fluctuated along with European equities on Thursday as investors weighed reports of fresh progress in containing a coronavirus outbreak in Beijing. Treasuries advanced.

The moves came after a top virus expert in China said that new cases in the capital were being curbed. The Stoxx Europe 600 swung between losses and gains, with German payments firm Wirecard AG slumping as much as 67% after it delayed publication of annual financial results for the fourth time. Asia stocks edged lower. The pound weakened ahead of a Bank of England decision in which policy makers are expected to add to economic stimulus.

The picture for global markets remains complex as investors mull the latest reports on the virus. With countries emerging from lockdowns, fears of a second wave are increasing, with Texas reporting an 11% surge in hospitalizations and China battling its worst outbreak since Wuhan. Investors are balancing that with positive economic news, as well as a flood of promised stimulus measures. Politics is back in the picture too, after newspapers published summaries of a widely anticipated book critical of President Donald Trump.

The yuan ticked up and Chinese shares pared losses after China’s central bank governor said he wants the flow of credit in the economy to increase to at least 30 trillion yuan ($4.2 trillion) this year.

Elsewhere, crude oil prices erased earlier losses.

These are some key events coming up:

A policy decision from the Bank of England is due on Thursday.

These are some of the main moves in markets:

Stocks

Futures on the S&P 500 Index were little changed at 10:41 a.m. London time.The Stoxx Europe 600 Index fell 0.3%.The MSCI Asia Pacific Index was little changed.The MSCI Emerging Market Index gained 0.2%.

Currencies

The Bloomberg Dollar Spot Index fell 0.1%.The euro gained 0.1% to $1.1251.The British pound sank 0.4% to $1.2509.The onshore yuan was little changed at 7.081 per dollar.The Japanese yen was little changed at 106.98 per dollar.

Bonds

The yield on 10-year Treasuries declined two basis points to 0.71%.The yield on two-year Treasuries declined less than one basis point to 0.19%.Germany’s 10-year yield declined one basis point to -0.40%.Britain’s 10-year yield fell two basis points to 0.174%.Japan’s 10-year yield decreased less than one basis point to 0.019%.

Commodities

West Texas Intermediate crude increased 0.4% to $38.12 a barrel.Brent crude gained 0.7% to $41 a barrel.Gold strengthened 0.1% to $1,729.34 an ounce.

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