Global Stocks Higher After Fed Says Rate Hikes May Be Needed

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on July 7, 2022. Ahn Young-joon/AP Photo

BEIJING—Global stock markets and Wall Street futures gained Thursday after lower oil prices helped to offset fears about surging inflation the Federal Reserve said might require more U.S. interest rate hikes.

London and Frankfurt opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices edged up after falling below $100 per barrel this week.