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Global stocks hit new highs, as investors await US jobs data – business live

Futures tracking Wall Street’s main indices have climbed to new highs ahead of the US jobs data at 1:30pm GMT. The Dow Jones futures are up nearly 0.3%, the S&P 500 is 0.4% higher and the Nasdaq 0.5% ahead.

All three indices hit record highs yesterday and the S&P closed above 3,800 points for the first time amid expectations of a bigger stimulus package and infrastructure spending once Joe Biden takes office, triggering buying of financial, industrial and material stocks.

Oil prices continue to climb and have touched 11-month highs today, boosted by Saudi Arabia’s voluntary output cut and rising stock markets. Brent crude has rallied 1.73% to $55.32 a barrel while US crude has gained 1.5% to $51.59.

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