Global stocks edge higher, dollar slips as Biden victory looms

Treasury yields rose on better-than-expected October employment data, while oil prices slid below $40 a barrel as new lockdowns in Europe to halt the surging COVID-19 pandemic dimmed the demand outlook.

MSCI's all-country world stock index <.MIWD00000PUS> rose 0.19% to 592.5, adding to a week-long rally that has seen the benchmark for global equity markets advance more than 7%. The index is on course for its best week in nearly seven months.

In Europe, the broad pan-regional FTSEurofirst 300 index <.FTEU3> dropped 0.12% to 1,418.13.

Biden took the lead over President Donald Trump in the battleground states of Pennsylvania and Georgia for the first time on Friday, but Georgia ordered a recount that could lead to a long period of uncertainty, which markets dislike.