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DJ Stocks on Track for Best Week This Year on Stimulus Hopes

· 02/05/2021 03:42

U.S. stock futures edged higher Friday, suggesting that the market is poised for its best weekly performance of the year, on anticipation of a fresh coronavirus-relief spending package from the government.

S&P 500 futures ticked up 0.2%, while contracts linked to the Nasdaq-100 index gained 0.4%.

The U.S. jobs report for January, due out at 8:30 a.m. ET, will show whether the economy is picking up from a winter slowdown. There could be fewer job losses than usual this January because there were so many at the end of last year, economists have said.

The 10-year U.S. Treasury yield was down to 1.136% from 1.148%. Yields and prices move in opposite directions.

Overseas, the Stoxx Europe 600 climbed 0.3%. Among individual stocks, Delivery Hero rose 2.3%.

The U.K.'s FTSE 100, which is dominated by large international businesses, meandered after the flat line.

The Swiss franc, the euro and the British pound were up 0.2% against the dollar.

In commodities, international benchmark Brent crude strengthened 0.9% to $59.36 a barrel. Gold also gained 0.5% to $1,800.50 a troy ounce.

German 10-year bund yields were down to minus 0.457% from minus 0.451% and the yield on U.K. 10-year gilts was up to 0.454% from 0.443%.

In Asia, indexes were mixed as Hong Kong's Hang Seng rose 0.7% and Japan's Nikkei 225 index gained 1.5%, whereas China's Shanghai Composite declined 0.2% after trading higher 1% during the session.

-- An artificial-intelligence tool was used in creating this article.

(END) Dow Jones Newswires

February 05, 2021 03:42 ET (08:42 GMT)

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