European stocks traded higher on Wednesday amid news of more positive vaccines in the region.
The pan-European Stoxx 600 index was trading at 0.2% in the middle of the morning. London’s FTSE 100 index rose 0.25% after the coronavirus vaccine developed by Oxford University and AstraZeneca was authorized for emergency use in the United Kingdom
The announcement marks a further step in the global battle against the pandemic and will allow the UK to significantly expand its Covid-19 vaccination program launched in December. To date, the Pfizer-BioNTech vaccine has been administered to 600,000 people in the UK, according to government statistics. Shares of AstraZeneca rose 0.7% on Wednesday.
European markets are receiving a slight trend seen by their global counterparts on Wednesday; Shares in Asia and the Pacific mixed in trading overnight after major Wall Street indices pulled off the multi-day winning streak on Tuesday. Meanwhile, the dollar weakened against other major currencies.
China’s 2019 GDP growth was revised downward to 6.0%, according to a statement released Wednesday by the country’s National Statistics Office. This compares with a pre-2019 growth rate of 6.1%.
Meanwhile, U.S. stock index futures changed little during trading overnight on Tuesday, as the market tried to regain record highs. Contracts tied to the Dow Jones industrial average gained 36 points. The S&P 500 futures gained 0.12%, while the Nasdaq 100 futures were flat.
The move came after the main averages closed lower on Tuesday, leaving the first gains that pushed the shares to record highs in the opening bell. Washington lawmakers continue to disagree on direct payments to Americans as part of an economic stimulus package amid the ongoing coronavirus pandemic.
Senate Majority Leader Mitch McConnell blocked Senate Minority Leader Chuck Schumer’s effort to speed up the House bill passed Monday afternoon that would increase checks by $ 600 at $ 2,000. Stimulus payments could come out as early as Tuesday evening, Treasury Secretary Steven Mnuchin said.
President Donald Trump has backed higher payments and on Tuesday said in a tweet that the measure “POSSIBILITY. $ 600 IS NOT ENOUGH!”
UK lawmakers will vote on Wednesday on whether to approve the post-Brexit trade deal reached by negotiators on Christmas Eve. Prime Minister Boris Johnson called on parliament to support the deal.
No significant revenue or data releases Wednesday.
– CNBC’s Eustance Huang and Pippa Stevens contributed to this market report.