Global stocks, oil edge away from highs as stimulus rally ebbs

Global shares were flat on Friday but within sight of a record high, while oil edged lower as benchmark debt yields climbed, helping to curb the latest stimulus-driven rally.

Gains in Asian stock markets proved tough to match for most European peers, after they hit a one-year high the day before. U.S. stock futures also suggested a lower start for Wall Street later in the day.

The note of caution followed the signing of a $1.9 trillion U.S. stimulus bill into law on Thursday and a further dovish tilt from the European Central Bank that had prompted a retreat in bond yields and eased global concerns about rising inflation.

(Read more)