Business Maverick: Stocks in Asia, US futures rise as oil snaps Slide: markets wrap

its biggest interest-rate hike in 27 years and warned of a prolonged economic contraction.

A global equity index is set for a third weekly advance in a recovery from bear-market lows, helped by resilient company profits in the US. The durability of the bounce remains in doubt because of central bank rate rises to tackle punishing inflation. US payrolls on Friday are the next key data point for markets. Hiring likely softened in July but the labour market remains consistent with an expanding rather than recessionary economy and the Fed will press on with rate hikes, according to Anna Wong, chief US economist for Bloomberg Economics.

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