(Bloomberg) -- Socks turned higher amid renewed optimism over U.S. stimulus talks and a jump in the shares of energy companies. Treasury yields rose for a third day, while the dollar fluctuated.The S&P 500 had fluctuated between gains and losses for most of the day after initially retreating from Tuesday’s record high. Salesforce.com Inc. weighted on technology shares with analysts calling its purchase of Slack Technologies Inc. expensive. House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer called for immediate talks and said a bipartisan $908 billion aid proposal should be the foundation for negotiations.“It’s a push-and-pull of market positioning,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management’s Ascent Private Wealth Group. “It’s just this two step forward, one step back that we’ve watched in the stock market for a number of months now.”Oil snapped a three-day slide after a surprise decline in U.S. crude inventories and signals that OPEC+ made progress toward a widely anticipated deal on output curbs. Earlier, Pfizer Inc. climbed after its shot was cleared for deployment in the U.K. as soon as next week.Britain’s pound slumped after the European Union’s chief Brexit negotiator Michel Barnier reportedly told envoys the outcome of any deal is still too close to call.After vaccine breakthroughs fueled record monthly gains for global stocks, markets appear to have priced in an improved health outlook, and investors are turning some of their attention to bonds. One of the year’s biggest spikes in Treasury yields on Tuesday has spurred speculation about the potential impact of rising rates on stocks and corporate debt.Federal Reserve Chair Jerome Powell indicated Wednesday that there was no rift between the central bank and Treasury Secretary Steven Mnuchin over the sunsetting of emergency lending programs. Powell emphasized the need for more stimulus before a Congressional committee.“We’re watching the size of the fiscal stimulus package and the timing of it, which is really important,” said Michael Greenly, a senior portfolio manager at UBS Private Wealth Management. “We’re also watching if there’s going to be longer restrictive social distancing policies, which could affect the economy on some levels. But even with that, the recent data’s suggested that the economic recovery is continuing.”Elsewhere, the offshore yuan erased gains after President-elect Joe Biden told the New York Times he won’t soon remove tariffs on Chinese goods. Gold rose for a second day.Bitcoin hovered around $19,000 after nearly reaching $20,000 on Tuesday.These are some key events coming up:The U.S. employment report on Friday is expected to show more Americans headed back to work in November, though at a slower pace than October.German factory orders for October are due Friday.Here are some of the main moves in markets: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.