Equity futures in the United States edged higher on Friday, boosted by a strong set of company reports that allayed concerns that an inflationary rise would stifle growth.

S&P 500 contracts rose in pair with Nasdaq 100 contracts. Banks and energy companies led increases in Europe, which are linked to a cyclical resurgence.

Brent oil futures were trading around $85 a barrel, despite an energy shortage that is raising inflationary pressures and raw material costs. At the London Metal Exchange, a measure of six industrial metals reached a new high.

Fears that increasing prices and supply-chain snarls would wreak havoc on company balance sheets and growth have been dampened by strong profits in the reporting season. At the same time, the larger question over whether a stagflationary background is looming remains unresolved.