European stocks logged a modest gain Thursday as energy shares got a brief boost from Brent crude futures, which extended their gains to touch the $50-a-barrel level. Meanwhile, Spanish banks put the pan-European index under pressure as Banco Popular Español SA plunged. Earlier stocks had benefited from a rise in crude but relinquished those gains as crude futures retreated. Still, the Stoxx Europe 600 managed to close at its best level in 5 weeks after a three straight days of gains, FactSet data show.

U.S. stocks closed little changed Thursday after two days of strong gains as crude-oil futures failed to hang on to a move above $50 a barrel and investors brushed off better-than-expected economic reports. Orders for durable goods manufactured in the U.S. jumped in April, fueled by higher demand for new cars, trucks and commercial jets. But a key measure of business investment fell again. Meanwhile, jobless claims declined to a one-month low last week, suggesting the labor market remained robust.

Asian stock markets were mostly higher Friday as investors maintained a cautiously optimistic outlook while they waited for U.S. economic data and remarks by the Fed chief. Investors will be watching to see what Federal Reserve chair Janet Yellen has to say about monetary policy

Based on MarketWatch materials