Stocks move higher even as Treasury yields, oil prices tick up

World stocks climbed on Friday, despite a rise in US government bond yields and oil prices staying above $100 per barrel. President Donald Trump stated the US would not attack Iran before the upcoming midterm elections. Brent crude futures increased around 0.2% to $104.48 per barrel, following a surge of over 4% the previous day.

Investors also considered technology companies' ongoing fundraising efforts, while borrowing costs in major economies were near multi-year highs. Wall Street stocks were up, with the S&P 500 increasing 0.5% and the technology-focused Nasdaq Composite rising 0.6%. US and European telecom stocks were among the biggest decliners, due to concerns over increased competition from satellite-based mobile services powered by SpaceX's low-band spectrum acquisition.

European shares rose 1%, while MSCI's Asia-Pacific index outside Japan gained 0.56%, and Japan's Nikkei closed without change. The upcoming third-quarter earnings season, with several Wall Street banks set to report, could influence market sentiment. Doug Beath, a Wells Fargo Investment Institute strategist, believes large technology stocks might better handle higher oil prices and rising yields, while remaining cautious about other sectors. A disappointing performance in tech could trigger a market pullback.