Asian equities rose Friday along with U.S. and European futures as investors continue to weigh moves to reopen economies against data illustrating the enormous damage wreaked by the coronavirus. The dollar dipped.

Japan saw gains of more than 1%, the largest moves, while shares also rose in Hong Kong, Shanghai, Seoul and Sydney. S&P 500 contracts climbed following gains Thursday. U.S. jobless claims continued at historically high levels, but fell from the prior week, in the run-up to Friday’s payrolls report. The tech-heavy Nasdaq Composite turned positive for 2020, wiping out losses of as much as 24%. Two-year Treasury yields continued to trend lower after plunging to a record.

The Aussie stayed higher after the Reserve Bank of Australia reiterated its projection for an economic contraction this year and a rebound in 2021. The pound also climbed, with the Bloomberg Dollar Spot Index retreating for a second straight day.

Global stocks have struggled for direction this month after a strong rebound in April following the first quarters dramatic sell-off. Optimists point to efforts to reopen economies, a slowing rate of new infections and unprecedented stimulus. Pessimists fret over the mounting economic toll, with payrolls data from the worlds largest economy on Friday expected to be dire.

While the collapse in economic activity is historic, so too is the global policy response to cushion the impact and support a recovery, JPMorgan Chase & Co. strategists including Marko Kolanovic wrote in a May 7 note. We expect risky assets to continue to recover as economies reopen, though the pace of gains will likely slow, they wrote.

Elsewhere, oil edged higher following a day of wild price swings as investors weighed supply-and-demand fundamentals against Saudi Arabia’s global price hike. Bitcoin rose above $10,000 for the first time since late February.

Here are some key events coming up:

* U.K. markets will be closed on Friday for a holiday.

* Friday also brings the U.S. jobs report for April, expected to show a severe impact from the pandemic. The median forecast in a Bloomberg survey of economists calls for a 21 million plunge in payrolls

These are some of the main moves in markets:

* Stocks Futures on the S&P 500 added 0.9% as of 10:25 a.m. in Tokyo. The gauge rose 1.2% on Thursday.

* Hong Kong’s Hang Seng rose 0.9%.

* The Shanghai Composite advanced 0.4%.

* Japan’s Topix index advanced 1.3%.

* South Korea’s Kospi rose 1.3%.

* Australia’s S&P/ASX 200 Index added 0.9%.

* Euro Stoxx 50 futures advanced 0.6%.

Currencies

* The yen was little changed at 106.29 per dollar.

* The offshore yuan traded flat at 7.0885 per dollar.

* The euro bought $1.0843, up 0.1%.

* The Aussie rose 0.5% to 65.29 U.S. cents.

Bonds

* The yield on 10-year Treasuries remained at 0.64%.

* Australias’ 10-year yield dropped four basis points to 0.89%.

Commodities

* West Texas Intermediate crude rose 2.4% to $24.13 a barrel.

* Gold gained 0.2% to $1,720.15 an ounce.

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