European and US stock markets hit record highs as coronavirus fears ebb – business live

European and US stock markets hit record highs as coronavirus fears ebb – business live

Rolling coverage of the latest economic and financial news, as Europe's Stoxx 600 index and Germany's Dax hit fresh peaks. The oil price is also rallying today, reflecting optimism that Covid-19 will not derail the global economy.. All the major European stock markets are higher today in early trading, with Germany hitting record levels.. On Wall Street, the S&P 500 and the Nasdaq also hit record levels, and we're expecting further gains today.. Some 2,105 new cases were reported in China today, the lowest daily increase since 30 January, lifting the total to 44,670.. We're also mindful of secondary and tertiary outbreaks in Europe and North America even as new cases slow in China.. 10am GMT: Eurozone industrial production data for December; output expected to shrink by 1.9% year-on-year.