European and US futures rose alongside Asian stocks, following a buoyant session on Wall Street amid bets the Federal Reserve will soon signal it’s ready to start cutting interest rates.
MSCI’s all-country stock index headed for a ninth day of increases — the longest run of gains since December.
Shares advanced in Japan, South Korea and Australia while those in China slipped. Euro Stoxx 50 and US futures rose, while Treasury 10-year yields were steady.
The bullish momentum was fueled by an upbeat mood in the US, where the S&P 500 climbed for an eighth straight day.
A gauge of Asian currencies touched the highest since January, while oil extended the biggest drop in two weeks as the US said Israel accepted a cease-fire proposal in Gaza. Bets for imminent Fed easing are propping up equity markets, with investor allocations still robust despite a bout of recent volatility and heightened uncertainty around the economy.
The MSCI Asia Pacific Index has gained in all but two sessions since Aug. 6, underscoring expectations that US policymakers are likely to cut interest rates in September.
