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Friday, June 9, 2023

Equities Rise, Brent Jumps Above $45 on Slowing U.S. Coronavirus Cases

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U.S. index futures advanced with equities worldwide after President Donald Trump said he’s considering a tax cut on capital gains. Brent crude rose above $45 per barrel.

Airlines and cruise-ship operators led advances in the U.S. premarket. Gains in S&P 500 futures signaled the benchmark will approach its all-time closing high from February.

In Europe and Asia, a broad rally ranged from industrial goods to health-care shares. The Stoxx Europe 600 Index headed for best increase in a week.

Treasuries and European bonds extended their declines. The dollar turned lower against its major peers including the euro, after a German gauge of investor confidence unexpectedly surged.

Oil edged higher as markets in Europe and Asia advanced on signs that the surge in coronavirus cases in the southern U.S. is slowing.

Oil Futures in London topped $45 a barrel, heading for their strongest close in five months. The number of Americans hospitalized due to Covid-19 fell below 50,000 for the first time in a month as a spike in the Sun Belt eased. That helped Asian stocks climb the most in a week, while those in Europe also rallied.

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