U.S. stocks ended up slightly on Thursday as Brent oil's rise above $50 a barrel boosted energy shares and an upbeat outlook lifted Wal-Mart (WMT.N) to a 14-month high.
The energy index .SPNY jumped 1.8 percent after Brent crude LCOc1 topped $50 for the first time in six weeks as major producers prepared to discuss a possible output freeze.
The Dow Jones industrial average .DJI gained 23.76 points, or 0.13 percent, to 18,597.7
Asian stocks climbed as energy producers advanced after oil entered a bull market and Japanese shares advanced as the yen stabilized after breaching 100 against the dollar.
The MSCI Asia Pacific Index rose 0.2 percent to 139.59 as of 9:04 a.m. in Tokyo, paring its decline for the week to 0.3 percent. Japan’s Topix index increased 0.4 percent as the yen traded at 100.14 against the dollar. Asian stocks have rallied 24 percent from a February low as lackluster data from the world’s biggest economies fueled speculation central banks will continue to support them with stimulus and loose monetary policy. The Fed minutes released Wednesday showed officials saw little risk of a sharp uptick in inflation, helping drive the odds of a rate increase this year back below 50 percent.
Reference: Reuters, Bloomberg
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