Market Morning: Rising Oil

NEW YORK (TheStreet) -- U.S. stock futures suggested Wall Street would open with slight gains on Friday as oil prices crossed $108 a barrel.

European shares were up slightly, while Asian stocks finished with gains. Japan's Nikkei 225 rose 0.5% to close at 9,647.38.

In the U.S. on Thursday, stocks closed up as data showed surprising resilience in German business confidence and as U.S. jobless claims remained flat.

The Dow Jones Industrial Average gained 46.1 points, 0.4%, to 12,984.8. The S&P 500 rose 5.8 points, or 0.4%, to 1363.5. The Nasdaq finished higher by 23.8 points, or 0.8%, at 2957.

Benchmark crude for April delivery jumped 66 cents to $108.49 in electronic trading on the New York Mercantile Exchange. It has increased for seven straight days as tension over Iran's nuclear program escalates threatening supply, and on signs of an improving U.S. economy.

The economic calendar Friday in the U.S. features the final read on consumer sentiment for February from the University of Michigan at 9:55 a.m. EST, and new-home sales for January at 10 a.m.