GLOBAL MARKETS-Equities flat, oil jumps, as investors wait on U.S. stimulus package

By David Randall
NEW YORK, Dec 18 (Reuters) - Global equity benchmarks
struggled for direction while oil prices rallied near nine-month
highs Friday as investors weighed hopes for a U.S. coronavirus
relief package against moves by the U.S. government to add
dozens of Chinese companies to a trade blacklist.
The Democratic-controlled House of Representatives continues
to negotiate with the Republican-led Senate on a $900 billion
piece of legislation to support the economy during a pandemic
that has killed nearly 309,000 Americans.
"It does feel like we have a particularly light schedule in
terms of events with markets in the U.S. going to be focused on
the ongoing negotiations to see if we can get things over the
line," said Ned Rumpeltin, European head of currency strategy at
TD Securities.
Asian shares fell earlier in the day after Reuters reported
that the United States is set to add dozens of Chinese
companies, including the country's top chipmaker SMIC 0981.HK ,
to a trade blacklist later in the day. MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.09% following broad declines in Asia and flat trading in
Europe.
In morning trading on Wall Street, the Dow Jones Industrial
Average .DJI fell 5.97 points, or 0.02%, to 30,297.4, the S&P
500 .SPX lost 2.08 points, or 0.06%, to 3,720.4 and the Nasdaq
Composite .IXIC added 12.50 points, or 0.1%, to 12,777.24.
U.S. benchmarks hit record highs on Thursday.
In currency markets, the British pound slipped off the
two-and-a-half year it hit Thursday with only days remaining
before the UK leaves the European Union single market on Dec.
31.
The EU warned there were just hours left to strike a deal,
undermining British domestically focused mid-caps .FTMC as the
prospect of trade tariffs in the New Year loomed.
"The EU-UK talks could well go right up to the wire as
neither side wants to be seen to be giving in too easily. It's
all about the optics for both sides, so it could take a little
bit longer than most people are comfortable with," said Michael
Hewson, chief market analyst at CMC Markets.
The dollar index =USD rose 0.158%, with the euro EUR=
down 0.18% to $1.2244.
Benchmark 10-year notes US10YT=RR rose 2/32 in price to
yield 0.9246%, from 0.93% late on Thursday.
Markets were encouraged that the United States stood ready
to ship 5.9 million doses of a new coronavirus vaccine developed
by Moderna MRNA.O . Hopes for additional distribution of coronavirus vaccines
helped push oil prices near nine-month highs. U.S. crude CLc1
rose 0.95% to $48.82 per barrel and Brent LCOc1 was at $51.81,
up 0.6% on the day.

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