Global equities continued their rally as bulls drew fresh conviction from signs the US may strike more trade deals soon after clinching a pact with Japan.A gauge of the world’s stocks hit a new record high. Europe’s Stoxx 600 index advanced 0.7% after a clutch of strong earnings and reports the US is closing in on an agreement with the European Union that would set a 15% tariff for most products. Futures on the S&P 500 were little changed and US 10-year Treasuries dipped for a second day. The de-escalation in global trade tensions has reassured investors, easing fears of a prolonged trade war and fueling gains across global markets. Traders have bet that Washington would adopt a pragmatic approach before tariffs meaningfully impact corporate profits. “The euphoria which is building up is clearly due to hopes of a trade deal between Europe and the US,” said Karen Georges, equity fund manager at Ecofi in Paris. “Coming just one day after the Japan agreement, this is lifting risk-on momentum.”Later Thursday, the European Central Bank is set to leave interest rates untouched for the first time in more than a year as it awaits clarity on the impact of President Donald Trump’s trade levies on inflation.It’s one of the busiest days in the earnings season in Europe. Deutsche Bank AG shares jumped 6% after the lender beat earnings expectations, while BNP Paribas SA rose 3% after reporting better-than forecast profit. Luxury firm LVMH is due to report after the close. In the US, Nasdaq 100 futures were up 0.2% after Alphabet Inc. beat revenue and profit expectations, boosted by demand for artificial intelligence products. Tesla Inc. shares, meanwhile, dropped in post-market trading after the company posted the sharpest revenue decline in at least a decade.Trump Officials Probe Five Universities Over DACA ScholarshipsTariff TalksOther countries are also in discussions to strike a trade deal. The US and South Korea have talked about creating a fund to invest in American projects as part of a trade pact, similar to an agreement Japan struck Tuesday, people familiar with the matter said.Meanwhile, delegations from the US and China are also due to hold negotiations in Stockholm next week for their third round of trade talks.Separately, Thailand’s baht fell from the strongest level in more than three years after the government said Thai fighter jets attacked two Cambodian army posts.Gold Wavers As Trump's Deal With Japan Eases Trade ConcernsCorporate News:Deutsche Bank’s shares soared as its fixed-income traders joined Wall Street peers in reaping the profits from volatility following the US administration’s tariff announcements.BNP Paribas reported better-than-expected profit as the French lender got a boost from its fixed-income traders.Nestle SA kicked off a strategic review of struggling vitamin brands as new Chief Executive Officer Laurent Freixe seeks to speed up growth at the world’s largest food company.Elon Musk warned of a hard year ahead for Tesla, adding to the automaker’s woes after reporting one of its worst quarters of the last decade.Some of the main moves in markets:StocksThe Stoxx Europe 600 rose 0.6% as of 8:43 a.m. London timeS&P 500 futures were little changedNasdaq 100 futures rose 0.2%Futures on the Dow Jones Industrial Average fell 0.3%The MSCI Asia Pacific Index rose 0.8%The MSCI Emerging Markets Index rose 0.2%CurrenciesThe Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1764The Japanese yen rose 0.1% to 146.35 per dollarThe offshore yuan was little changed at 7.1491 per dollarThe British pound fell 0.1% to $1.3563CryptocurrenciesBitcoin rose 0.3% to $118,299.42Ether rose 0.3% to $3,579.96BondsThe yield on 10-year Treasuries advanced two basis points to 4.40%Germany’s 10-year yield advanced four basis points to 2.68%Britain’s 10-year yield advanced one basis point to 4.65%CommoditiesBrent crude rose 0.8% to $69.04 a barrelSpot gold fell 0.3% to $3,376.80 an ounceIndia-UK FTA: Five Key Sectors Set For Export Boom. Read more on Markets by NDTV Profit.