(Bloomberg) -- U.S. equity futures trimmed gains on Monday after reports that federal prosecutors will file an antitrust lawsuit against Google. Treasuries dropped.Google owner Alphabet Inc. slipped in pre-market trading. Procter & Gamble shares rose on the best organic sales growth since 2005. S&P 500 Index contracts earlier had increased as much as 0.9% after a spokesman for House Speaker Nancy Pelosi said differences were narrowing in stimulus negotiations.In Europe, UBS gained after the Swiss bank’s traders performed better than most of their Wall Street rivals in the third quarter. European sovereign bonds dropped.A rally built on stimulus hopes has investors weighing up Pelosi’s deadline of striking a deal today against speculation that the looming election will prove too much of a hurdle to overcome. Yet with Federal Reserve policy makers urging for more fiscal support to complement unprecedented monetary aid, many in the market may be willing to let the deadline come and go.“The behavior of markets is reflecting optimism that there’s going to be big stimulus by January,” said John Normand, head of cross-asset fundamental strategy at JPMorgan Chase & Co. “I don’t think it’s necessarily a faith that Pelosi and Mnuchin and McConnell will agree to anything substantive by Pelosi’s deadline of today. It’s more of a look-through dynamic.”Leaders in Europe intensified efforts to slow contagion, reviving lockdowns in some areas after piecemeal curbs made little impact on a disease that has infected 4.9 million people regionally. New cases in Germany and Bulgaria hit a record,Meanwhile, global coronavirus cases exceeded 40 million, with the pandemic showing no signs of slowing. In the U.S., surges in Wisconsin and other battleground states pose a challenge for President Donald Trump two weeks before he stands for re-election.Here are some key events this week:Brexit trade talks are likely to continue at least into next week if the U.K. and EU fail to reach an agreement.The final presidential debate before the U.S. election, between President Donald Trump and former Vice President Joe Biden, will be live from Nashville, Tennessee on Thursday.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.