Bloomberg reports “U.S. Stock Futures Advance; Dollar Pares Gain: Markets Wrap”

Key takeaways from report by Bloomberg:

S&P 500 contracts climb after late-day drop on Wall Street
European shares fall as leaders struggle over stimulus package

U.S. equity futures rose and European stocks fell as investors weighed Tuesday’s late reversal on Wall Street and the latest data surrounding the coronavirus and its economic toll. The dollar trimmed a gain and Treasuries yield rose.

Contracts on the three main American stock indexes fluctuated before finally making a solid advance, with air carriers including Delta Air Lines Inc. rising in the premarket. Overnight, the White House was said to be developing plans to get the U.S. economy back in action. Most of the 19 sector groups on the Stoxx Europe 600 Index dragged the gauge down after euro-area finance chiefs failed to agree on a $540 billion economic package to respond to the pandemic.

Italian bonds took a hit and the euro headed for its seventh drop in eight days against the dollar as the officials struggled to reconcile visions for how to recover from the virus. Core debt in the region reversed gains. France’s first-quarter output shrank the most since World War II, the latest indicator of the severity of the shock to the world’s biggest trading region. Spain confirmed having Europe’s most-extensive outbreak of the disease, with deaths and infections rising the most in four days.

As surprising, as it may sound, Stocks are rebounding after initial drop triggered by global pandemic.

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