U.S. futures rally while bonds drop on waning coronavirus figures

U.S. equity futures gained on Tuesday amid continuing optimism the spread of the coronavirus may be slowing in several major economies.

Yet, bonds extended declines and the dollar weakened.

Futures for the three main American benchmarks all jumped after the S&P 500 Index on Monday closed at its highest since March 13.

The dollar, a key barometer of funding strains, retreated the most since late March. The pound strengthened despite concern for Prime Minister Boris Johnson, who was moved into intensive care as he battled the virus.

Oil gained on signs the world’s biggest producers are moving toward a deal to call off their price war.