- Investors expressed confidence in a nascent equities comeback after US futures reversed a Wednesday fall and an index of Asian stocks traded higher, implying that markets are underestimating the impact of rising oil prices.
- Japan and South Korea's markets climbed, but Australian shares varied and Hong Kong equities fell after their best day in six months. The increase in contracts for the S&P 500 offset the index's modest loss on Wednesday. European futures rose. The dollar was hurt by optimistic optimism after it made its greatest gain in a week on Wednesday. Even after Fitch Ratings revised its UK outlook to negative, the pound gained gains.
- The measure appeared to signal a reconsideration of the impact of OPEC+'s decision on Wednesday to limit daily oil production by two million barrels. The price of US crude oil has risen to a three-week high. The White House warned of catastrophic impacts on the world economy from Russian import restrictions and said the US will release 10 mln barrels from strategic stockpiles.
- Energy price increases threaten to prolong above-target inflation, undermining hopes that central banks will soon abandon aggressive interest rate hikes. Investors will be watching the US jobs report on Friday for more information.
