Speculation that China might open its economy saw copper jump 7 percent on Friday in its biggest one-day rally since 2009, while a range of resources all benefited from hopes of increased demand.
S&P 500 futures turned tail and fell 0.7 percent, while Nasdaq futures lost 0.8 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 percent. Four Federal Reserve policymakers on Friday indicated they would still consider a smaller interest rate hike at their next policy meeting, sounding less hawkish than Chair Jerome Powell.There are at least seven Fed officials scheduled to speak this week, which will help refine the rate outlook with markets now narrowly leaning toward a half-point rate hike next month to 4.25-4.5 percent.