(Bloomberg) — Global stocks climbed on renewed hopes for stimulus, progress on vaccinations and receding concerns about volatile retail trading. Silver pulled back from an eight-year high.Europe’s Stoxx 600 climbled 1% and Asian markets climbed, with technology shares outperforming ahead of earnings from Amazon.com Inc. and Google’s parent Alphabet Inc. S&P 500 futures rose after the gauge rebounded from last week’s selloff in a broad-based advance. GameStop Corp. tumbled in pre-market trading as bearish investors appeared to cover their positions.Silver retreated after a key exchange hiked trading margins following a buying frenzy. Treasuries were steady, the dollar dipped and oil climbed. Australian bonds erased losses after the central bank pledged to buy more securities when its current asset purchase program concludes.Signs of progress toward fresh U.S. stimulus and expanding vaccination programs have boosted sentiment. Fears that speculative buying stirred up on social media could derail the equity bull market are also receding. The long end of the Treasury curve hit its steepest since 2016, underscoring ongoing confidence in a global recovery.“We’re still positive on equities while acknowledging the near-term risk of more volatility,” said Tai Hui, chief Asia market strategist at JPMorgan Asset Management. “Our view of a second half recovery supported by improvement from the pandemic is still intact.”President Joe Biden intends to continue pushing for a large pandemic relief bill, even if he has to bypass Senate Republicans, his press secretary said, hours after what one Republican senator called a “very productive” meeting Monday on stimulus options.Meanwhile, more Americans have received at least one dose of a Covid-19 vaccine than have tested positive for the virus, an early but hopeful milestone in the race to end the pandemic. Chancellor Angela Merkel vowed to offer all Germans a vaccine by the end of September, even if new shots aren’t approved.Read: What’s a Reflation Trade, and Who Wins and Loses?: QuickTakeThese are some key events coming up:Earnings season is full steam ahead as companies report results, including Alibaba, GlaxoSmithKline, Exxon Mobil, BNP Paribas and Yum! Brands.Wednesday sees the EIA crude oil inventory report.The Bank of England sets rates on Thursday and an Indian central bank policy decision comes then too.The U.S. January payrolls report is due Friday, providing a first look at hiring in 2021.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.