U.S. futures for the S&P 500 were up 0.5% and futures for the Dow Jones Industrial Average climbed 0.6%. Changes in futures do not necessarily predict movements after the opening bell.

In Europe, the Stoxx Europe 600 gained 0.1% in morning trading. Kingfisher added 5.4% and Julius Baer Gruppe rose 4.1%. On the other hand, Ferrari dropped 6.1%, and Melrose Industries fell 3.6%. The FTSE 100 added 0.8%. Other stocks in Europe were down as France's CAC 40 decreased 0.3% and Germany's DAX dropped 0.2%.

The Wall Street Journal Dollar Index climbed 0.1% to 95.74.

In commodities, Brent crude rose 2.9% to $96.17 a barrel, and WTI crude rose 3% to $92.57 a barrel. The European benchmark price for natural gas, the Dutch futures contract TTF, was up 4.5% to 47.47 euros a megawatt hour.

The German 10-year Bund yield climbed by 3 basis points to 2.974% from 2.948%, and the yield on the 10-year U.S. Treasury fell by 5 basis points to 4.517% from 4.563%. Bond prices and yields move in opposite directions.