Emerging Stocks Climb Even as Global Rally Eases: Markets Wrap

Developing nation shares rose a sixth day, while both European stocks and futures for the S&P 500 Index were little changed. Oil prices were poised for their first weekly gain this month after Saudi Arabia’s Energy Minister told Bloomberg News the kingdom may prolong production cuts. A gauge of Group-of-10 nation carry returns headed for the best weekly advance since January.

While momentum faded on Friday, global stocks are on course for the best week since January after the Fed raised its benchmark lending rate a quarter point without accelerating the timetable for future hikes. U.S. policy makers’ reticence to speed up tightening is prompting investors to ditch the dollar in favor of higher-yielding currencies, while the most tranquil markets in two years are spurring a hunt for returns in riskier landscapes.