U.S. and European equity futures rose Friday along with most Asian stocks amid optimism that the pandemic recovery can weather elevated inflation and tightening monetary policy.
Oil prices slid to six-week lows on Thursday as China said it was moving to release strategic reserves after a Reuters report that the United States was asking large consuming nations to consider a coordinated stockpile release to lower prices.
Stocks rose along with U.S. equity futures Friday, bringing some relief for shares from the inflation fears still roiling Treasuries.
MSCI Inc.’s Asia-Pacific gauge posted its biggest rise this week, helped by Japan’s bourse and China’s technology stocks. The view that the worst of Beijing’s regulatory blitz has passed salved sentiment. U.S. and European contracts climbed after the S&P 500 snapped a two-day fall.
Oil prices were steady on Thursday after falling in the previous session on concerns rising inflation in the United States, spurred by climbing energy costs, may prompt the government to release more strategic crude stockpiles to drive down prices.