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Yahoo BusinessJan 20, 2020
Stocks Pare Decline With U.S. Futures; Oil Climbs: Markets Wrap
(Bloomberg) -- European stocks and U.S. equity futures trimmed most of an earlier decline on Monday as investors awaited a fresh batch of corporate earnings and some key central bank meetings this week. Crude oil rose following supply disruptions in Libya and Iraq.Activity was muted across most major markets because of a U.S. holiday. The Stoxx Europe 600 Index traded little changed after spending most of the morning in the red, as gains in automakers offset declines in retailers. Contracts on the main American equity benchmarks also pared their earlier losses. Equities advanced in most of Asia, though shares in Hong Kong and India slumped. European bonds were mixed and range-bound, while the pound slipped ahead of U.K. jobs data due tomorrow.Brent crude jumped back above $65 a barrel as unrest hit key production regions. Iraq temporarily stopped output at an oil field on Sunday, while Libyan production almost ground to a halt after armed forces shut down a pipeline.Jitters in the oil market have helped rein in optimism after recent bullishness, spurred by the signing of the initial Sino-American trade deal and economic indicators from China and the U.S. that provided signs the global outlook is improving. Investors now turn their attention back to corporate earnings after solid results from the biggest banks on Wall Street. Key central bank meetings in Europe and Japan are also on the agenda."We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they're tur
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