(Bloomberg) -- Global equities were on course for the best month on record as a rally picked up steam on Wednesday and cash continued to flow into cyclical sectors. The dollar held a decline.Asia-Pacific shares rose, with energy and financial stocks leading gains. S&P 500 futures pushed higher after the benchmark index closed at an all-time high and the Dow Jones Industrial Average topped 30,000 for the first time. The Treasury yield curve continued to steepen.Helping sentiment overnight was the formal start of President-elect Joe Biden’s transition, a clearer sense of his Treasury Department’s likely policy preferences under Janet Yellen and a third promising vaccine candidate. Oil held above $45 a barrel in New York. Copper reached the highest since 2014.Positive vaccine news has fueled optimism that the global economic recovery can weather a surge in coronavirus infections. The MSCI gauge of global shares is up 13% in November, set for its best month since it began in 1988. That’s despite stepped up restrictions to curb the pathogen, including in the U.S. ahead of the Thanksgiving holiday.“Looking three to six months out, we do think the recovery will maintain its momentum,” Anna Han, equity strategist at Wells Fargo Securities LLC, said on Bloomberg TV. “When you see that reflation trade coming back, it’s telling you that investors are gaining confidence in growth prospects looking forward.”Next up Wednesday comes a slew of U.S. economic indicators, from jobless claims to readings on consumer confidence and personal income.Elsewhere, Bitcoin topped $19,000 as it closed in on a record. In New Zealand, bond yields climbed to the highest since July as the case for negative interest rates wanes.Here are some key events coming up:Minutes of the most recent Federal Open Market Committee meeting are due Wednesday.U.S. jobless claims, GDP and personal spending data come Wednesday.U.K. Chancellor of the Exchequer will lay out spending plan on Wednesday.Thursday sees a policy decision and briefing from the Bank of Korea.U.S. celebrates the Thanksgiving holiday on Thursday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.These are the main moves in markets:StocksS&P 500 Index futures added 0.5% as of 12:14 p.m. in Tokyo. The gauge rose 1.6% on Tuesday.Japan’s Topix index advanced 1.2%.Hang Seng index rose 1.7%.Shanghai Composite index was little changed.South Korea’s Kospi index gained 0.6%.Euro Stoxx 50 futures advanced 0.6%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.1%.The euro bought $1.1905, up 0.1%.The yen was at 104.51 per dollar, down 0.1%.The offshore yuan traded at 6.5749 per dollar.BondsThe yield on 10-year Treasuries rose one basis points to 0.89%.Australia’s 10-year yield climbed about four basis points to 0.93%.CommoditiesWest Texas Intermediate crude rose 1.2% to $45.44 a barrel.Gold was at $1,806.76 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.