Asian shares rallied on Monday courtesy of gains in China which also helped U.S. stock futures pare early losses, while rising Treasury yields lifted the dollar to a near-three-year peak against the Japanese yen.
The S&P 500 ended lower on Friday after data showed weaker jobs growth than expected in September, yet investors still expected the Federal Reserve to begin tapering asset purchases this year.
Gold was down on Friday morning in Asia, but held steady as investors refrained from making big bets ahead of the latest U.S. jobs report.
The safe-haven dollar hovered below a one-year high to major peers on Friday amid improved risk sentiment, while traders awaited clues on the pace of Federal Reserve policy normalization from a closely watched monthly payrolls reports.
Oil prices rose on Friday, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now.
The S&P 500 closed higher Thursday, as lawmakers reached an agreement on a stop-gap measure to raise the debt ceiling and temporarily avert a U.S. default, prompting investors load up on stocks.