(Bloomberg) — U.S. equity futures started the week on the back foot as a stimulus deal remained elusive and coronavirus infections hit a record for a second day. Asian stocks drifted lower and Treasuries advanced.S&P 500 contracts retreated, though were off their session lows. Stocks slipped in China, Japan and South Korea. They were flat in Australia. The dollar strengthened. U.S. House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive as chances faded of a resolution before next week’s election. Hong Kong is closed for a public holiday Monday.Ten-year Treasury yields ticked lower but remained above 0.8%. Oil extended a decline. U.S. stocks rose Friday as investors held out hope for a spending package.Investors remain focused on the chances of an agreement on a stimulus package as November’s election fast approaches. Still, concerns are mounting that surging virus cases could force additional business closures. The U.S. added more than 85,000 cases in a record figure for one day.“There is very limited incentive on both sides to get a deal done,” Joseph Shaposhnik, a portfolio manager at TCW, said on Bloomberg TV. “The market has baked that in, has baked in the election and is looking out six months and thinking what are the odds life begins to normalize, a vaccine is introduced.”President Donald Trump’s chief of staff said the U.S. isn’t going to “control” the pandemic. U.S. Vice President Mike Pence’s chief of staff tested positive, raising the prospect of another outbreak within the White House. Cases also continue to surge in Europe and other parts of the world.Meanwhile, China is rethinking its yuan internationalization strategy and a senior central bank official called for more proactive with policies to support markets, including improving bilateral currency swap agreements.These are some events to watch this week:The Chinese Communist Party’s Central Committee holds its all-important plenum, where it’s expected to chart the course for the economy’s development for the next 15 years. Through Oct. 29.Brexit negotiating teams have started intense daily negotiations, and these are likely to continue as both sides push to finalize a deal by the middle of November.Bank of Japan and the European Central Bank have monetary policy decisions Thursday, followed by briefings from Governor Kuroda and President Lagarde.The first reading of U.S. 3Q GDP Thursday is anticipated to be the strongest on record following a record dive in the prior quarter as many businesses were shuttered by the pandemic.Here are the major moves in markets:StocksS&P 500 futures fell 0.6% as of 12:31 p.m. in Tokyo. The S&P 500 Index rose 0.3% Friday.Topix index fell 0.3%.Australia’s S&P/ASX 200 Index was little changed.South Korea’s Kospi index fell 0.4%.Shanghai Composite Index fell 0.7%.CurrenciesThe yen fell 0.2% to 104.88 per dollar.The offshore yuan fell 0.1% to 6.6772 per dollar.The euro fell 0.2% to $1.1835.The British pound traded at $1.3027, little changed.The Bloomberg Dollar Spot Index rose 0.2%.BondsThe yield on 10-year Treasuries fell three basis points to 0.81%.Australia’s 10-year bond yield fell more than four basis points to 0.81%.CommoditiesWest Texas Intermediate crude lost 1.7% to $39.16 a barrel Friday.Gold fell 0.2% to $1,898.25 an ounce.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.