U.S. index futures rose, while the dollar pared gains and Treasuries trimmed losses after data showed the cost of living fell by the most in six years before the Federal Reserve’s policy decision. European stocks fell with oil and the ruble reversed a decline.
China and Russia deepened their energy ties with a second blockbuster deal that lessens Russian reliance on Europe and would secure almost a fifth of the gas supplies China needs by the end of the decade.
Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.
European natural gas prices fell the most in more than two weeks after Ukraine agreed to allow Russian humanitarian aid across its border and talks between the two former Soviet nations brought some progress.