• Asian stocks are poised for early gains Monday, tracking US shares higher into a week that includes Federal Reserve boss Jerome Powell’s congressional testimony and China’s National People’s Congress.
• Australian shares were steady while equity futures in Japan, Hong Kong and mainland China were all up. US futures contracts were little changed in Asia after the S&P 500 hit yet another fresh record Friday. The yield on policy sensitive two-year Treasuries fell nine basis points to 4.53% following weaker than expected activity data and cautious comments from Fed officials.
• Oil rose in early Asia trading after OPEC+ extended its 2 million barrels of oil a day supply cutbacks to the middle of the year, in a bid to avert a global surplus and shore up prices. US crude traded just above $80 a barrel in Asia, holding the level it hit for the first time in almost four months on Friday.