US index futures advanced and European stocks opened higher as investors awaited a key inflation report to gauge whether the Federal Reserve’s efforts to tame inflation in the world’s largest economy are working.
Contracts on the S&P 500 and Nasdaq 100 indexes rose at least 0.3% each, while Europe’s Stoxx 600 climbed for a second day. The dollar fell and Treasury yields slumped. Asian stocks gained as China reported fewer Covid cases and technology stocks rallied in Hong Kong.