Wall Street Set for Weekly Gains Amidst Volatile Trading

What a difference a week makes.

On Monday, this newsletter was focused on how equities were showing signs of catching the bond market's cold, with downside moves across major stock indices as borrowing costs spiked.

Fast forward to Friday, and Wall Street looks set to end the week in the green, back at record levels.

It looks set to be a winning week for U.S. stocks, despite a volatile bout of trading over the last few days amid broader bond market jitters.

Futures point to gains across Wall Street, which would push the S&P 500 into the green for the week, while the Dow Jones rose more than 270 points to close at a record high on Thursday.

Asia-Pacific markets are also trading higher as investors assess diplomatic efforts to reach a peace deal between the U.S. and Iran. However, oil prices are also elevated on a Reuters report suggesting Iran wants to keep enriched uranium within the country.

Meanwhile, President Donald Trump on Thursday said he postponed an upcoming signing ceremony for his administration's much-anticipated executive order on the artificial intelligence industry.

The event, which was set for later Thursday afternoon, was delayed "because I didn't like certain aspects of it," Trump told reporters in the Oval Office.

In Europe, earnings season is drawing to a close, with luxury giant Richemont one of the final companies to report. The high-end fashion house, which includes the brands Cartier and Chloé, posted a strong set of full-year sales and the launch of a new buyback programme.

Also in the beauty space, shares in Estée Lauder look set for big gains at the open on Friday, after the cosmetics giant said it was ending merger talks with Spanish rival Puig. A deal would have formed a group worth almost $40 billion.

Travel stocks remain in focus as the prolonged disruption to jet fuel supply chains continues to concern investors and travelers alike. China's so-called "Big Three" airlines, Air China, China Eastern and China Southern Airlines have suffered more than their rivals due to a lack of hedging against fuel price swings.