Asian stocks extended gains on Friday and were poised for their biggest weekly rise since 2011 while the euro hit a 1-1/2 month high as Europe’s central bank surprised with more stimulus, fuelling hopes for a global rebound. Reporting by Swati Pandey in Sydney and David Henry in New York; Editing by Sam Holmes & Simon Cameron-Moore
In a sign the positive mood was likely to spread elsewhere, E-mini futures for the S&P 500 jumped 0.8% to reach a three-month peak. Eurostoxx futures added 1.2%, futures for Germany’s Dax gained 1.25% while those for London’s FTSE were up 1%.
Investors are pricing in a global economic recovery despite data showing the severe damage wrought by the coronavirus lockdowns. Later in the day, U.S. nonfarm payroll figures are expected to show further deterioration in the country’s jobs market.
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