(Bloomberg) -- U.S. stocks edged higher and the dollar extended its slide on Thursday as investors weighed prospects for fresh fiscal support from Washington.The S&P 500 was little changed after closing at a record high, with the real estate and consumer discretionary sectors leading gainers. Micron Technology Inc. rose after the chipmaker raised its guidance. International Paper Co. jumped after announcing a spin-off.“The prospects for a new Covid relief package will be the key issue over the very near-term for the broad stock market,” said Matt Maley, chief market strategist at Miller Tabak + Co. “In other words, any negative news on this issue will cause the market to decline, while any positive news will help it rally.”While markets advanced up in Asia, European shares edged lower, pulled down by energy companies. Britain’s pound more than recouped Wednesday’s drop as traders took in stride France’s threat to veto a Brexit deal.The dollar added to its slump this week that has sent the euro, Australian dollar and the Korean won to their highest levels versus the greenback in more than two years, and the Swiss franc to its strongest since 2015.Read more: One by One, Dollar Is Dropping to Multi-Year Lows Against PeersInvestor focus turned to a Democratic proposal to break the stimulus deadlock that could provide a potential driver to the rally. A bipartisan proposal calls for a scaled-back $908 billion stimulus package, with endorsement from House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer.The compromise deal “would be more about stabilizing than stimulating the economy, but increasing the unemployment benefit reduces the fear of people in work and encourages them to spend the savings accumulated during lockdowns,” Paul Donovan, chief economist at UBS Global Wealth Management, wrote in a note to clients.Guiding the global-growth rebound has also become the overriding ambition of central bankers. The U.S. recovery is at risk of stalling without a fresh injection, Federal Reserve Bank of Dallas President Robert Kaplan said in an interview on CNBC. As the Federal Reserve puts aside inflation concerns for now, economist Ed Yardeni predicted the 10-year Treasury yield will remain anchored below 1%.Elsewhere, oil was little changed as OPEC+ closed in on a deal to start gradually easing its output cuts in February, after days of fractious negotiations that revealed deep cracks at the core of the cartel. 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.