Stocks Rise on Hopes of a U.S. Economic Relief Deal: Live Updates
Here’s what you need to know:
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European stocks rose on Monday and Wall Street futures pointed to a rise in the S&P 500 when trading starts later in the day, following Asian stocks higher.
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The Stoxx Europe 600 rose 0.5 percent, and the benchmark stock indexes in France and Germany each climbed less than half a percent. Shares in China and Hong Kong rose following the holiday week in China and expectations that President Xi Jinping would announce later this week more investment for technology in Shenzhen and increase the city’s links to Hong Kong.
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U.S. stocks gained last week on hopes that Congress and the Treasury Department would agree to a broad economic relief package. But on Saturday, Senate Republicans balked at the cost of another deal, while Democrats, led by Speaker Nancy Pelosi, said the package did not go far enough. On Sunday, the White House suggested an agreement could still be reached before the election. In the meantime, traders will also get more updates on how individual companies are weathering the fallout from the coronavirus pandemic as third-quarter earnings seasons begins.
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After a rally last week, oil prices declined on Monday as stalled production restarted in Norway and Libya. U.S. bond markets are closed for Columbus Day, a federal holiday that is recognized in some parts of the country as Indigenous Peoples’ Day.
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Shares in the airline group IAG fell 1.6 percent after a sudden management shake up, in which the chief executive of British Airways will be replaced by the head of Aer Lingus.

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