U.S. stock index futures rose before Friday’s open, with S&P 500, Dow and Nasdaq 100 futures up about 0.7% to 0.8%. The move came as oil prices retreated, with Brent crude down 3% to $104.44 a barrel after earlier jumping to the highest levels since May amid the war with Iran. An inflation update that came in near expectations also helped steady sentiment.

Oil climbed to its highest level since May, with Brent crude topping $108 a barrel in intraday trading as the war with Iran continued to disrupt global supplies. The move intensified inflation worries and pressured the bond market. The 10-year U.S. Treasury yield rose to 4.95% as the three major U.S. stock indexes fell.

Oil prices rose to their highest level since May, with Brent crude topping $105 a barrel as the war with Iran continues to disrupt global crude supplies. The move has intensified inflation worries and added pressure in the bond market, weighing on U.S. stocks in Thursday trading. The S&P 500 fell 0.6% for a fourth straight decline, while the Dow dropped 300 points and the Nasdaq slid 0.9%.

Most Asian stock markets rose in early Wednesday trading as investors watched talks on reopening the Strait of Hormuz, which has been largely shut due to the war in Iran. Continued global interest in artificial intelligence supported some regional stocks. Falling oil prices lifted sentiment in oil-importing economies such as Japan, where the Nikkei 225 was up 0.7% in afternoon trading.

Asian shares mostly fell on Monday as pressure in bond markets mounted, while oil prices also slipped. Japan’s Nikkei 225 declined 0.5% and South Korea’s Kospi dropped 3.5%, while Hong Kong’s Hang Seng fell 2.1% and Shanghai’s Composite index lost 0.7%. Australia’s S&P/ASX 200 rose 0.5% against the regional trend, and Taiwan’s Taiex fell 0.5%. U.S. futures edged lower as markets looked ahead to this week’s Jackson Hole gathering of global central bankers.

U.S. stocks fell on Thursday, with the S&P 500 down 0.3% and on pace for a fourth loss in five sessions since last week’s record high. The Dow Jones Industrial Average dropped 344 points, or 0.6%, while the Nasdaq composite slid 0.8%. Bond-market pressure built again as oil prices rose, and Walmart’s decline after its latest profit report weighed on the broader market.

Home Depot reported quarterly revenue of $47.86 billion, above the market expectation of $47.24 billion. Global comparable sales increased 1.7%, while U.S. comparable sales rose 1.3%. The company kept its full-year outlook unchanged even as demand for smaller projects supported sales amid a still-weak housing market.

U.S. nonfarm payrolls unexpectedly fell by 23,000 in April, a sign the labor market is cooling and easing inflation pressure, which has tempered expectations for further Fed rate hikes. U.S. stocks were mostly higher in early Friday trading, with the S&P 500 up 0.4% and the Nasdaq up 1.1%, while the Dow slipped 0.1%. The 10-year Treasury yield fell to 4.60%. Brent crude edged lower.

Brent crude surged 7.1% to $100.74 a barrel, its highest since May, as intensified fighting in the Middle East stoked fears of supply disruptions. U.S. stocks fell in tandem, with the S&P 500 down 1.3%, the Dow off 1% and the Nasdaq sliding 2.2%. Tesla and Alphabet led the declines.