European markets are likely to open on a mixed note Friday, with U.K. stocks likely to rise as traders clung to hopes of a trade deal between the European Union and Britain.
European Union negotiators have moved to 'within millimetres' of the limits of their negotiating mandate and it is up to London to compromise if a deal is to be reached, an EU diplomat said.
"We're going to do a deal that is right for Britain. We're not going to sign up to something that is to our detriment," British Education Secretary Gavin Williamson told Sky.
The dollar eased and gold remains on track for a weekly gain as a bipartisan, $908 billion coronavirus aid plan gained momentum in the U.S. Congress, with conservative lawmakers expressing their support.
Some analysts expect the Federal Reserve to tweak its bound-buying purchase program later this month, while there's more room for easing monetary policy when the European Central Bank meets next week.
Asian stocks are trading mixed after the United States has set a new world record for the number of coronavirus cases and hospitalizations reported in a single day.
The country recorded more than 14 million confirmed infections as of Thursday with over 100,000 patients hospitalized for the first time. in a sign that the virus is spreading at an alarming rate.
California Governor Gavin Newsom announced plans for a regional stay-at-home order and warned of widespread lockdowns across the state to contain the pandemic.
Oil prices rose about 2 percent in Asian trading after OPEC+ announced that they have reached an agreement to pare current production cuts of 7.7 million barrels per day to 7.2 million barrels per day beginning in January.
In economic releases, Destatis is slated to issue Germany's factory orders data for October later in the day. Economists expect orders to grow 1.5 percent sequentially, faster than the 0.5 percent increase in September.
Across the Atlantic, trading is likely to be driven by reaction to the monthly jobs report, which may overshadow separate reports on the U.S. trade deficit and factory orders.
Overnight, U.S. stocks ended mixed after Pfizer reportedly cut the number of Covid-19 vaccine doses it plans to distribute this year because of supply-chain problems. Data on weekly jobless claims and service sector activity offered a mixed picture of the economy.
The Dow Jones Industrial Average rose 0.3 percent and the tech-heavy Nasdaq Composite edged up 0.2 percent to a new record closing high, while the S&P 500 finished marginally lower.
European markets also ended on a mixed note Thursday as investors weighed optimism over stimulus talks and positive vaccine developments against Brexit trade deal uncertainty.
The pan European Stoxx 600 closed flat with a positive bias. The U.K.'s FTSE 100 rose 0.4 percent, while the German DAX dropped half a percent and France's CAC 40 index eased 0.2 percent.
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