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(Bloomberg) — Asian stocks advanced with U.S. and European futures Tuesday on renewed hopes for stimulus, progress on vaccinations and receding concerns about volatile retail trading. Silver pulled back from an eight-year high.Most major Asian markets climbed with technology shares outperforming ahead of earnings Tuesday from Amazon.com Inc. and Google’s parent Alphabet Inc. S&P 500 futures rose after the gauge rebounded from last week’s selloff in a broad-based advance. European contracts pointed higher. Earlier, GameStop Corp. tumbled as bearish investors appeared to cover their positions.Silver futures retreated after a key exchange hiked trading margins amid warnings about a rally stoked by retail traders. Treasuries were steady, the dollar edged lower and oil climbed. The long end of the Treasury curve hit its steepest since 2016, underscoring ongoing confidence in a global recovery. Australian bonds rose after the country’s central bank pledged to buy more securities when it’s current asset purchase program concludes.Signs of progress toward fresh U.S. stimulus and expanding vaccination programs have boosted sentiment, as fears recede that speculative buying will derail the equity bull market. President Joe Biden and a group of Republican senators will continue negotiating a bipartisan pandemic relief plan after a “very productive” two-hour meeting at the White House, according to an aide.More Americans have received at least one dose of a Covid-19 vaccine than have tested positive for the virus, an early but hopeful milestone in the race to end the pandemic. Chancellor Angela Merkel vowed to offer all Germans a vaccine by the end of September, even if new shots aren’t approved.“We’re still positive on equities while acknowledging the near-term risk of more volatility,” said Tai Hui, chief Asia market strategist at JPMorgan Asset Management. “Our view of a second half recovery supported by improvement from the pandemic is still intact.”Read: What’s a Reflation Trade, and Who Wins and Loses?: QuickTakeThese are some key events coming up:Earnings season is full steam ahead as companies report results, including Alibaba, GlaxoSmithKline, Ferrari, Exxon Mobil, BNP Paribas and Yum! Brands.Wednesday sees the EIA crude oil inventory report.The Bank of England sets rates on Thursday and an Indian central bank policy decision comes then too.The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.These are some of the main moves in markets:StocksS&P 500 futures rose 0.6% as of 12:22 p.m. in Tokyo. The S&P 500 surged 1.6%.Topix index rose 1%.Australia’s S&P/ASX 200 Index rose 1.2%.Kospi index gained 2.2%.Hang Seng Index climbed 2%.Shanghai Composite Index rose 0.6%.Euro Stoxx 50 futures added 0.5%.CurrenciesThe yen was at 104.90 per dollar.The offshore yuan traded at 6.4642 per dollar.The Bloomberg Dollar Spot Index dipped 0.2%.The euro was at $1.2083, up 0.2%.BondsThe yield on 10-year Treasuries was at 1.08%.Australia’s 10-year bond yield rose two basis points to 1.17%.CommoditiesWest Texas Intermediate crude rose 1.1% to $54.12 a barrel.Gold was at $1,856.66 an ounce, down 0.2%.Silver dropped 3.2% to $28.49 per ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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