BEIJING—Global stock markets and Wall Street futures gained Thursday after lower oil prices helped to offset fears about surging inflation the Federal Reserve said might require more U.S. interest rate hikes.
London and Frankfurt opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices edged up after falling below $100 per barrel this week.
Investors worry aggressive U.S. and European rate hikes to contain prices rises that are running at a four-decade high might depress global economic activity.
“Stocks rose because runaway commodity and oil prices are sinking,” said Stephen Innes of SPI Asset Management. “Both are the critical targets Fed policy is engineered to tame; hence, inflation expectation is coming under control.”…