Reuters

Oil prices were stable on Thursday on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.

Asian shares were a tad firmer on Thursday, taking their cues from strong U.S. data although holiday-thinned trade and uncertainty about the impact of recent hurricanes on the U.S. economy are likely to keep investors cautious.

The S&P 500 and the Nasdaq reversed course to scale new record highs on Wednesday after U.S. Secretary of State Rex Tillerson denied reports that he had considered resigning.

The U.S. dollar pared losses on Wednesday after data showed a service sector index increasing to its highest level in more than 12 years.

An index of global stocks edged up to a fresh intra-day high on Wednesday, helped by signs of strong economic growth worldwide, while the dollar pared losses on data showing the U.S. service sector accelerated in September to its fastest in 12 years.

The pace of growth in the U.S. economy’s service sector accelerated in September to fastest in 12 years, led by stronger new orders and employment, according to an industry report released on Wednesday.

The dollar pulled away from seven-week highs on Wednesday, amid speculation that U.S. President Donald Trump’s choice for the next head of the Federal Reserve could be a less hawkish candidate than had previously been expected.

European shares fell on Wednesday despite new record highs on Wall Street, as the impact of the crisis in Catalonia spread from Madrid and Spanish banks to the wider industry and euro zone region, particularly Italy.

Oil prices eased on Wednesday, pulled down by caution that a rally that lasted for most of the third quarter would not extend through the last three months of the year.

Japanese and Hong Kong shares led Asian stocks higher on Wednesday, supported by optimism about global growth and as the Chinese central bank’s weekend move to free up liquidity boosted mainland financial stocks.