Stocks open higher in Europe after most Asian benchmarks retreated. U.S. oil prices have moderated after wild swings earlier in the week. China’s premier promises ‘pro-job policies’ including tax and fee cuts totaling 2.5 trillion yuan ($400 billion) for businesses. The Shanghai Composite index reversed earlier losses, gaining 0.4% to 3,309.75. The Kospi in Seoul declined 0.7% to 2,661.28. In Australia, the S&P/ASX 200 gave up 0.9% to 7,063.60. Inflation is pushing banks to raise interest rates for the first time since the central bank launched pandemic pandemic programs to support the global economy. . . .
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