(Bloomberg) -- U.S. futures opened higher Monday amid optimism about some progress on stimulus talks in Washington. Asian stocks looked set for gains.S&P 500 Index futures gained after the gauge closed higher for a third week on Friday. Contracts in Japan and Hong Kong also rose and Australian stocks edged higher. Speaker of the House Nancy Pelosi set a Tuesday deadline for more progress with the White House after lengthy discussions at the weekend with Treasury Secretary Steven Mnuchin. The pound held its ground after a report officials were prepared to water down controversial Brexit legislation in a move that could revive failing talks with the European Union, as well as a credit rating cut by Moody’s Investors Service.Elsewhere, oil fluctuated ahead of an OPEC + meeting. The New Zealand dollar edged higher after Jacinda Ardern’s emphatic election victory. Chinese data due Monday is expected to show a broadening economic recovery from the pandemic hit.While Pelosi said a pre-election deal remains possible, her team sent conflicting signals after setting a 48-hour deadline for progress on Saturday night. President Donald Trump renewed his offer to go beyond the dollar amounts now on the table.Pelosi and Mnuchin spoke at length Saturday night about efforts to finalize a stimulus package to help the U.S. weather the affects of the coronavirus, especially as signs emerge of rising economic strain for millions of Americans and an acceleration in coronavirus infections.“It seems that the market is optimistic that indeed stimulus will follow whether that is tax cuts under a Trump presidency or spending under a Biden presidency,” Ben Emons, Medley Global Advisors managing director, said on Bloomberg TV.The U.S. had a fifth consecutive day of infections over 50,000. In Europe, Italy’s cases swelled to a daily record as the government prepares new containment measures.Economists expect Chinese third-quarter gross domestic product to have climbed 5.5% from the same period a year earlier. Retail sales, investment and industrial production are all forecast to pick up in September.Here are some key events this week:Third-quarter China GDP is due Monday.Brexit trade talks are likely to continue at least into next week if the U.K. and EU fail to reach an agreement.Australia central bank minutes are out Tuesday.The final presidential debate before the U.S. election, between President Donald Trump and former Vice President Joe Biden, will be live from Nashville, Tennessee on Thursday.These are some of the main moves in markets:StocksS&P 500 futures rose 0.4% as of 8:01 a.m. in Tokyo. The S&P 500 was little changed Friday.Nikkei 225 futures rose 0.5% earlier.Australia’s S&P/ASX 200 Index rose 0.2%.Hang Seng Index futures gained 0.3% earlier.CurrenciesThe yen traded at 105.34 per dollar.The offshore yuan was at 6.6960 per dollar.The euro was at $1.1715.The British pound was at $1.2918.BondsThe yield on 10-year Treasuries advanced one basis point to 0.75% Friday.Australia’s 10-year bond yield gained one basis point to 0.73%.CommoditiesWest Texas Intermediate crude rose 0.2% to $40.96 a barrel.Gold was little changed at $1,899.53 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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