Asian stocks and U.S. equity futures rose Tuesday after technology shares spurred a Wall Street rally amid soothing Federal Reserve comments on inflation.
Bitcoin trimmed a bounce from last week’s slump. An MSCI Inc. index of Asia-Pacific equities was set for a fourth straight advance, with Hong Kong and China outperforming.
European and U.S futures edged up after the S&P 500 climbed and the Nasdaq 100 outperformed amid a jump in Apple Inc. and Tesla Inc. Bitcoin pared a rally stoked partly by Elon Musk’s support for an effort to improve its green credentials.
The Fed comments aided sentiment, as officials reiterated they expect transitory rather than lasting price pressures from the U.S. economic rebound.
Treasury yields were stable following a retreat and the dollar slipped. Oil held an advance after Iran said that gaps remain in negotiations aimed at reaching a deal to end U.S. sanctions on its crude. The Bloomberg Commodity Spot Index rose the most in about a week.
Fed officials Lael Brainard, Raphael Bostic and James Bullard said they wouldn’t be surprised to see bottlenecks and supply shortages push prices up in coming months as the pandemic recedes, but that much of those gains should be temporary.
