(Bloomberg) -- Asian stocks looked set for modest declines Wednesday as investors mulled the progress of stimulus talks in Washington and reports of a plan to review the U.S.-China trade deal. Treasuries pushed higher.Futures pointed lower in Japan, Australia and Hong Kong. S&P 500 contracts were little changed after the index wavered between small losses and gains throughout Tuesday before closing modestly higher. The dollar weakened against major peers. Gold rallied to above $2,000 an ounce. Ten-year Treasury yields fell to their lowest since March.Investors are closely monitoring efforts in Washington to hammer out a new virus relief package with pressure building as negotiators seek to shrink the wide gap that remains between Republicans and Democrats. Meanwhile, senior U.S. and Chinese officials are planning to assess the nations’ trade agreement around the middle of the month against a backdrop of rising tensions between the countries, according to people briefed on the matter.On the virus front, California reported the fewest new coronavirus cases since June, while Florida and Arizona also saw their infections slow, signaling an easing in some of the U.S. states hardest-hit by the pandemic in recent weeks. In Europe, Germany, Poland and the Netherlands recorded increases in new cases.Elsewhere, oil dipped after climbing to its highest in nearly two weeks as an explosion at Lebanon’s main port rocked the capital Beirut, stoking fears over instability in the region. Argentina’s overseas notes rallied after the government reached a $65 billion restructuring deal with creditors.Here are some key events coming up:Euro-zone PMI reports are scheduled for Wednesday.Reserve Bank of India and Bank of England rate decisions due Thursday.Dallas Fed President Robert Kaplan discusses the U.S. economy at Thursday event.July U.S. employment and jobs reports expected Friday.These are some of the main moves in markets:StocksS&P 500 futures were flat as of 7:06 a.m. in Tokyo. The S&P 500 Index rose 0.4%.Nikkei 225 futures fell 0.4%.Australia’s S&P/ASX 200 Index futures fell 0.2%.Hong Kong’s Hang Seng Index contracts dipped 0.1% earlier.CurrenciesThe yen was at 105.73 per dollar after rising 0.2%.The offshore yuan traded at 6.9754 per dollar.The Bloomberg Dollar Spot Index slipped 0.2%.The euro was at $1.1798 after gaining 0.3%.BondsThe yield on 10-year Treasuries decreased five basis points to 0.51%.CommoditiesWest Texas Intermediate crude fell 0.3% to $41.56 a barrel.Gold traded at $2,021.13 an ounce after climbing 2.1%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Reserve Bank of Australia (RBA) on Tuesday announced its decision to maintain the current policy settings.
Sentiment was helped by a survey showing China’s factory activity expanded at the fastest pace in nearly a decade in July.