Global shares, oil prices rebound on US budget talk

NEW YORK — World equity and oil prices rebounded on Friday after Republican leaders of the US House of Representatives said they would seek to break a budget impasse next week, while the yen hit a 31-month low against the US dollar ahead of potential asset purchases by the Bank of Japan.

On Wall Street, the Dow and the S&P 500 posted five-year closing highs after Republicans said the House will consider a bill to raise the US debt ceiling enough to allow the country to pay its bills for another three months. The strategy would buy time for the Democratic-controlled Senate to pass a budget plan that shrinks the federal deficit.

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