U.S. and Japanese index futures climbed after a Federal Reserve official spoke in favor of delaying the end of its bond-buying program and American data soothed concern over the global economy. Oil rebounded.
Standard & Poor’s 500 Index futures gained 0.3 percent by 7:48 a.m. in Tokyo after the benchmark U.S. gauge erased a drop of as much as 1.5 percent to end the session up less than 0.1 percent. Nikkei 225 (NKY) Stock Average futures in Chicago climbed 0.2 percent as Australia’s S&P/ASX 200 Index added 0.3 percent. The yen and gold held losses, while Australian bonds retreated after Treasuries halted their advance. Oil in New York rose 0.5 percent after snapping a three-day slump yesterday.
St. Louis Fed Bank President James Bullard said the central bank should consider delaying the end of bond buying to halt a drop in inflation expectations. Global stocks have dropped about $3.3 trillion in value in October, set for the biggest monthly loss since May 2012 as concerns over global growth re-emerge at the same time the Fed is on track to conclude its stimulatory asset purchases. U.S. factory output rebounded in September and claims for jobless benefits slid to a 14-year low.
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