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U.S.
crude rose more than 2 percent, after the International Energy
Agency said oil prices might have bottomed as output in the
United States and other non-OPEC countries was beginning to fall
quickly. [O/R]
The S&P 500 is down 2.7 percent for the year, recovering from a
steep selloff at the start of the year that was sparked by a
rout in oil prices.
Wall Street ended flat on Thursday, after swinging between gains
and losses, as the ECB cut interest rates, but President Mario
Draghi said more rate cuts were unlikely.
Investors' attention now turns to the U.S. Federal Reserve,
which is set to meet on March 15-16 to decide on monetary
policy.
The Fed has said it is on track to raise rates gradually this
year, but its decision will hinge on the health of the economy.
Recent data has shown the U.S. labor market remains strong, but
wage growth remains a concern.
Shares of Symantec <SYMC.O> were up 2.4 percent at $17.70
premarket after RBC raised its rating on the stock to
"outperform."
Alnylam Pharmaceuticals <ALNY.O> was up 2.4 percent at $59.46
after JPMorgan upgraded the stock to overweight.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil
D'Silva)
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