Global shares are mostly higher following a rally on Wall Street driven by encouraging update on U.S. inflation. Oil prices slipped and U.S. futures edged higher.

Wall Street was heading for more gains before the open on Friday as markets try to log their first winning week of 2025 on the final day of trading during the Biden presidency. Futures for the S&P 500 climbed 0.

Wall Street is set for its best week since November, with major indexes like the S&P 500 and Nasdaq rising significantly. Big Tech stocks, dubbed the "Magnificent Seven," are leading gains amid easing Treasury yields and encouraging inflation data.

U.S. stock indexes closed their best week in two months with a flourish on Friday. The S&P 500 climbed 1% to clinch its first winning week in the last three. The Dow Jones Industrial Average rose 334 points,