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* U.S., European stocks rise; global stocks up overall
* Crude oil prices rise, reversing earlier losses
* Oil reversal improves U.S. traders' inflation expectations
By Dion Rabouin
NEW YORK, Feb 25 (Reuters) - Global equity markets got a
boost from an upturn in crude oil on Thursday as the market
focused on an upcoming meeting of major oil producers that
investors hope could stabilize volatile petroleum markets.
U.S. stock indexes were also buoyed by robust data on
durable goods orders that pointed to a recovery in the
struggling manufacturing sector.
The Dow Jones industrial average .DJI rose 212.37 points,
or 1.29 percent, to 16,697.36, the S&P 500 .SPX gained 21.93
points, or 1.14 percent, to 1,951.73 and the Nasdaq Composite
.IXIC added 39.60 points, or 0.87 percent, to 4,582.21.
Crude oil futures rose more than 2 percent after Venezuela
reaffirmed an oil producers meeting in mid-March that would
include Saudi Arabia, Russia and Qatar. Prior to the
announcement, oil was down as much as 3 percent.
The sharp turn was more of "an emotional move, people
thinking they're going to miss the boat," said Michael Matousek,
head trader at U.S. Global Investors Inc in San Antonio, about
the gains in oil.
"People are trying to stay one step ahead, thinking they
know what the decision of OPEC will be."
U.S. crude futures CLc1 settled up 92 cents, or 2.9
percent, at $33.07 a barrel.
Brent crude futures LCOc1 finished up 88 cents, or 2.6
percent, at $35.29 a barrel, hitting a three-week high.
European equity markets rose Thursday, rebounding from this
week's losses that had been spurred by fears of Britain exiting
the European Union.
Europe's FTSEurofirst 300 .FTEU3 , which has lost almost 4
percent since Tuesday, was up 2 percent as risk appetite
returned.
Equity markets and oil prices have moved in sync this year
so far, but analysts say they expect the two to decouple in the
not-too-distant future.
MSCI's gauge of global stock markets .MIWD00000PUS was up
1.1 percent.
Markets' appetite for risk pushed traders out of safe-haven
currencies like the Japanese yen, which fell 0.6 percent against
the dollar.
Britain's sterling rose 0.3 percent to $1.3970 GBP=D4 ,
taking a breath from a 5-percent fall since early this month on
fears that a public vote on June 23 could see Britain become the
first country to quit the 28-member European Union.
The dollar struggled to make much headway overall due to
doubts over whether the Fed will raise rates at all this year.
The euro edged up 0.15 percent to $1.1027 EUR=EBS . The dollar
index .DXY , which measures the greenback against six major
currencies was flat on the day.
Oil's recovery Thursday did help increase U.S. bond market's
gauges on traders' inflation expectations to their highest
levels in nearly four weeks.
Federal Reserve policymakers have been concerned about the
erosion in inflation expectations which could impair efforts to
boost domestic price growth to their 2-percent goal.
The yield premiums on regular U.S. Treasuries over Treasury
Inflation Protected Securities, known as inflation breakeven
rates, have risen from their lowest levels since early 2009 in
recent days with the rebound in oil prices.