london dec 10 reuters  us stock futures indicated a higher wall street and oil rallied on friday ahead of us inflation data although the mood was wary after a bumper week for many risky assets world stocks were on course for their best week since march 2021 and oil for its biggest weekly gain since late august helped by signs the omicron coronavirus variant might not be as economically disruptive as feared but markets were cautious on friday ahead of novembers us consumer price index data due at 1330 gmt a reuters poll of economists expects cpi to have risen 68 yearonyear overtaking octobers 62 increase which was the fastest gain in 31 years read more its likely the base number wont look great its quite a rise expected compared to previous months said matthias scheiber global head of portfolio management at allspring global investments however scheiber said other indicators such as supply chain statistics suggested inflation could stabilise in the medium term there was also gloom about the omicron variant in europe after england introduced more restrictions this week read more sp 500 futures rose 04 however clawing back a little ground after the index spx fell 072 on thursday the msci world equities index miwd00000pus fell 019 though it was heading for a 25 gain on the week european stocks stoxx were down 014 but poised for a weekly rise of 3 britains ftse 100 ftse was steady after data showed britains economy grew by a weakerthanexpected 01 in october read more european and us stock market volatility indices v2tx vix meanwhile were set to show their second biggest weekly drop this year oil prices were on course to rise more than 6 this week on easing concerns over the impact of the omicron coronavirus variant on global growth and fuel demand us crude rose 097 to 7164 a barrel brent crude rose 085 to 7505 the dollar index rose 02 and was heading towards its seventh consecutive weekly rise its longest rising streak since mid2014 the euro was down 02 at 1127 benchmark 10year treasury yields picked up to 15179 and the twoyear yield rose to 07310 its highest since march 2020 before trimming gains any upside inflation surprise will likely be interpreted as a case for a faster fed taper and bring forward expectations for interest rate rises the process were embarking on which is to withdraw what has been a record amount of liquidity and monetary support is a tricky one particularly as were at a point where youve got heightened inflationary pressures and the economy is running hot in a number of countries said francesca fornasari head of fx at insight investment in addition to the inflation data university of michigan preliminary december sentiment data at 1500 gmt is forecast to dip to 671 versus 674 in november mscis broadest index of asiapacific shares outside japan miapj0000pus lost 076 snapping three days of gains and japans nikkei n225 shed 10 shares in china evergrande group 3333hk lost 167 after fitch downgraded it to restricted default status read more contagion was limited however with hong kong stocks hsi off 107 additional reporting by alun john in hong kong and sujata rao in london editing by sam holmes richard pullin catherine evans and barbara lewis