(Bloomberg) — Stocks rose with U.S equity futures on Tuesday as further moves to ease coronavirus lockdowns in major economies helped offset concern of escalating geopolitical tensions. The dollar slipped for a second session.

The Stoxx Europe 600 Index jumped at the open, with all 19 sectors in the green as the U.K. announced steps toward getting back to business and Germany recorded a decline in the number of virus cases. Futures on the three main U.S. equity benchmarks were up on Friday’s close, pointing to a positive open on Wall Street. Japan led the equity advance in Asia, as the world’s third-largest economy reopened. Shares rose in Sydney and Hong Kong, which showed signs of stabilizing after weekend unrest.

Treasuries dipped in European trading after the three-day U.S. weekend. Germany’s government debt also fell. WTI Crude oil advanced past $34 a barrel in New York on hopes the market may rebalance after historic output cuts.

Investors appear to have come out of the holiday weekend in a risk-on mood, though tensions between Washington and Beijing remain in focus. China condemned the U.S. for adding 33 Chinese entities to a trade blacklist, but without announcing any retaliatory steps. Meanwhile, Beijing sought to reassure Hong Kong that its judiciary would remain independent under a new national security law.

Cutting against the tensions are mounting signs that coronavirus infection rates are moderating. The Japanese government ended its nationwide state of emergency Monday, while a rise in a gauge of German business expectations provided another glimmer of hope for equity bulls.

Recovery dynamics and potential drug developments are among “the key reasons to be positive,” said Chris Iggo, chief investment officer of core investments at AXA Investment Managers. “That does not mean we should ignore the risk of second waves, prolonged weak growth and geopolitical issues.”

Here are some key events coming up:

Earnings continue with companies including British Land, Royal Bank of Canada and HP Inc.Thursday brings the U.S. jobless claims reading for the week ended May 23.Federal Reserve Chairman Jerome Powell participates in a virtual discussion on Friday.

These are the main moves in markets:


Futures on the S&P 500 Index climbed 1.9{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} as of 8:16 a.m. London time.The Stoxx Europe 600 Index climbed 1.1{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.The MSCI Asia Pacific Index surged 2{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.The MSCI Emerging Market Index rose 1.3{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.


The Bloomberg Dollar Spot Index fell 0.4{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.The euro gained 0.3{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to $1.0932.The British pound climbed 0.6{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to $1.2264.The onshore yuan was little changed at 7.134 per dollar.The Japanese yen weakened 0.1{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to 107.84 per dollar.


The yield on 10-year Treasuries increased four basis points to 0.69{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.The yield on two-year Treasuries climbed one basis point to 0.18{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.Germany’s 10-year yield climbed four basis points to -0.45{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.Britain’s 10-year yield increased two basis points to 0.191{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.Japan’s 10-year yield gained less than one basis point to 0.005{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811}.


West Texas Intermediate crude gained 3.6{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to $34.46 a barrel.Brent crude increased 2.2{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to $36.32 a barrel.Gold weakened 0.2{c34e2c9cd63a11c97fab811dbaaefe0cfbb1edd2527888e1a44d36f3491ee811} to $1,728.64 an ounce.

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Stocks Advance With U.S. Futures; Dollar Declines: Markets Wrap