Fed Bets Withdrawn, Asia Stocks and Currencies Surge: Market Update

European stocks posted modest gains as traders awaited US jobs numbers due later Friday that will test optimism over whether the Federal Reserve's tightening cycle is nearing an end. Attention is turning to US nonfarm payroll data for further conviction on the Fed's rate path. US equity futures slipped, with Apple Inc. lower in premarket trading after revenue from the greater China region disappointed investors. The mood was brighter in Asia, with MSCI's regional benchmark gaining more than 1% and headed for its best week in two months. Oil was set for a second weekly loss as the Israel-Hamas war remained contained and clouds appeared on the demand horizon.