Stocks Rally With U.S. Futures After Bruising Week

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Stocks rebounded Friday and U.S. equity futures rose after Wall Street halted a threeday slide on signs of a strengthening economic recovery that helped soothe some of the concerns about risks from inflation. MSCI Inc.s AsiaPacific share gauge advanced about 1, led by Japan, bringing some relief after a bruising week in which worries about price pressures sapped equities. SP 500 and Nasdaq 100 contracts climbed after the indexes gained overnight, with industrial and financial shares outperforming, while energy producers joined a slump in oil.

Treasuries rallied from the prior sessions weakness, with the 10year yield easing to 1.66 despite a lackluster auction of 30year bonds. The Federal Reserve tweaked its purchasing plan to focus more on longerdated Treasuries, while leaving the 80 billion monthly total unchanged.

Tesla Inc. fell after Chief Executive Officer Elon Musk said the electriccar maker is suspending purchases using Bitcoin over environmental concerns. Bitcoin pared some of the losses sparked by the move to trade around 50,000. Markets appear to have recovered from a bout of volatility following an unexpectedly sharp increase in the U.S. consumer price index. The latest data reinforced inflation pressures, with producer prices outpacing forecasts, but a drop in jobless claims helped sentiment. Still, global stocks are headed for their biggest weekly drop since February.

Stocks

SP 500 contracts climbed 0.5 as of 1246 p.m. in Tokyo. The SP 500 rose 1.2Nasdaq…

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