(Bloomberg) — Global stocks headed toward their best weekly gain since July and U.S. futures also climbed as European companies boosted guidance and the White House suddenly signaled an openness to large-scale stimulus.
Shares rose in Europe on a host of companies raising outlooks, from Denmark’s drugmaker Novo Nordisk and jewelry producer Pandora to German online clothing retailer Zalando. Property firm British Land Co. gained on reinstating its dividend. Stocks underperformed in Spain, where the government is weighing a state of emergency for the capital to control the spread of Covid-19.
Italy’s 10-year bond yield fell to a record low amid fading domestic political risks and central-bank support. S&P 500 contracts rose following reports Treasury Secretary Steven Mnuchin told Nancy Pelosi that President Donald Trump wants agreement on a comprehensive aid package. Treasuries gained and the dollar retreated.