By Caitlin Ostroff
-- European, Asian stocks up
-- U.S. Treasury yields rise
Global stocks climbed at the end of a week dominated by central-bank policy, with a closely watched speech expected from Federal Reserve Chairman Jerome Powell later in the day.
Stoxx Europe 600 opened 0.5% higher after a broadly positive session in Asia, with the U.K.'s FTSE 100 and the German DAX both up 0.6%.
Markets will be watching for clarity from Mr. Powell and other central-bank leaders at the Jackson Hole symposium on the likelihood of further interest-rate cuts and action to lift a stagnant global economy. He is set to speak Friday at 10 a.m. ET. Bank of England Gov. Mark Carney speaks later in the day.
Analysts said the Fed chairman will have to show he is willing to take strong action to support the economy. Dallas Fed President Robert Kaplan said Thursday at the gathering of central bankers that he was open to cutting rates in September. The Fed's July rate move lowered its benchmark rate to a range between 2% and 2.25%.
Friday's rises in stocks came a day after a series of weak manufacturing data around the world had raised concerns about a possible recession, weighing on U.S. indexes.
Gains in Europe were led by technology firms, with the sector up 1.1%. Danish IT company SimCorp's shares climbed 6.3% after it raised its revenue guidance.
Toronto-based Entertainment One's shares jumped 29% after U.S. toy maker Hasbro said it would buy it for $4 billion.
The yield on 10-year Treasurys rose to 1.636% on Friday, from 1.613% on Thursday. Bond yields and prices move in opposite directions.
In currencies, the pound fell 0.3% against the U.S. dollar to $1.2215. Sterling also fell against the euro by 0.2%.
The WSJ Dollar Index, which measures the currency against a basket of its peers, ticked up 0.1%.
In commodities, global benchmark Brent crude gained 0.1% to $60.16 a barrel. Gold dropped 0.2%.
Write to Caitlin Ostroff at firstname.lastname@example.org