Asian stocks were poised to decline Thursday, tracking losses on Wall Street as surging oil prices and Treasury yields stoked inflation concerns ahead of key US price data. US oil extended its rally to an eighth straight session. Equity futures for Japan, South Korea, and Australia pointed lower after the S&P 500 Index fell 0.5%, led by industrial and consumer-discretionary shares.

The Nasdaq 100 Index dropped 0.3% as Nvidia Corp., Amazon.com Inc., and Alphabet Inc. declined. Contracts for US stocks were little changed in early Asian trading.