Stocks jump on virus slowdown hopes, but oil slips on oversupply – ZAWYA

Stocks jump on virus slowdown hopes, but oil slips on oversupply – ZAWYA

SYDNEY - Stocks jumped on Monday as investors were encouraged by a slowdown in coronavirus-related deaths and new cases, while oil prices skidded after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive.. U.S. stock futures rose 4% in Asian hours, trading close to its upper limit after U.S.. In currency markets, sterling fell 0.06% in Asia after British Prime Minister Boris Johnson was admitted to hospital following persistent coronavirus symptoms 10 days after testing positive for the virus.. The number of new coronavirus cases jumped in China on Sunday while the number of asymptomatic cases surged too as Beijing continued to struggle to extinguish the outbreak despite drastic containment efforts.. The United States has the highest number of reported cases, at over 300,000..