Photographer: Nicolas Asfouri/AFP/Getty Images

U.S. tech futures rallied, while European stocks and crude oil slumped as investors weighed tougher lockdowns to control the pandemic.

Contracts on the Nasdaq 100 Index added almost 1%, outperforming the Russell 2000 Index of small-cap shares. GameStop Corp. extended its extreme rally, surging 50% in premarket trading. In Asia, Chinese internet firm Tencent Holdings Ltd. jumped 11%, the biggest gain since 2011, as mainland traders sparked a buying frenzy for shares and options.

The picture was more negative in Europe, with equity benchmarks in France, Spain and the U.K. turning lower. As France may go into another lockdown, the U.K. considers tightening border controls and Israel seeks to bar foreign flights from entering the country, the Stoxx 600 Travel & Leisure index lost 2%.

Elsewhere in markets, crude oil in New York was steady near $52 a barrel. Bitcoin rebounded above $34,000.

These are some key events coming up in the week ahead:

• Microsoft Corp., Apple Inc., Tesla Inc., Facebook Inc., UBS Group AG and Samsung Electronics Co. are among companies reporting results.
• Chinese President Xi Jinping is due to speak at the World Economic Forum’s “The Davos Agenda 2021” online event on Monday.
• People’s Bank of China Governor Yi Gang and European Central Bank Chief Economist Philip Lane speak at a conference on Monday.
• Data on U.S. home prices and consumer confidence come Tuesday.
• The Federal Open Market Committee monetary policy decision and briefing by Chair Jerome Powell are scheduled for Wednesday.
• Fourth-quarter GDP, initial jobless claims and new home sales are among U.S. data releases Thursday.
• U.S. personal income, spending and pending home sales come Friday.

These are the main moves in markets:

Stocks

• Futures on the S&P 500 Index increased 0.1% as of 1:30 p.m. London time.
• The Stoxx Europe 600 Index declined 0.9%.
• The MSCI Asia Pacific Index advanced 0.9%.
• The MSCI Emerging Market Index climbed 1.1%.

Currencies

• The Bloomberg Dollar Spot Index was little changed at 1,123.16.
• The euro decreased 0.2% to $1.2151.
• The British pound was little changed at $1.3693.
• The Japanese yen strengthened 0.1% to 103.71 per dollar.

Bonds

• The yield on 10-year Treasuries declined three basis points to 1.06%.
• The yield on two-year Treasuries was unchanged at 0.12%.
• Germany’s 10-year yield decreased three basis points to -0.54%.
• Britain’s 10-year yield fell three basis points to 0.28%.

Commodities

• West Texas Intermediate crude increased 0.5% to $52.24 a barrel.
• Gold strengthened 0.6% to $1,867.50 an ounce.

— With assistance by Joanna Ossinger, and Paul Jarvis