Wall Street Today | Alibaba surges 11% after it ups share buyback program to $25 billion

Stocks in Asia looked set to climb today, after the Federal Reserve's resolve to clamp down on inflation fueled gains on Wall Street while deepening a Treasury selloff.

Futures rose in Japan, Australia and Hong Kong. U.S. contracts opened steady after the S&P 500 advanced for the fifth session in six. The index has now recovered halfway from the rout that started in January.

Oil kingpin Saudi Arabia is seeking to purchase an unusually large amount of diesel in a surprise move for the net exporter, adding strain when diesel markets already are in short supply.

Aramco Trading sought 1.2 million to 4.6 million barrels of low sulfur diesel for delivery to several ports in Saudi Arabia by mid-March to April via tender, said traders close to the matter, who asked not to be identified. It's a rare move from the country, which usually is a net exporter of diesel, according to the traders.

Gold held gains after talks between Ukraine and Russia to make progress in halting the war.

"Investors will continue to buy gold as an inflation hedge," Georgette Boele, a senior precious metals strategist at ABN Amro Bank NV, wrote in a note. "But as the Fed will continue to hike and we also expect a higher dollar, gold's fortunes will mainly be positive versus other currencies than the dollar."

The company has bought back about 56.2 million American depositary shares (ADRs), worth about $9.2 billion, under the previously announced buyback program. ADRs are listed in the U.S. and act as proxies for foreign companies.

A Pfizer spokeswoman said the company is charging Unicef a "not-for-profit price," but declined to disclose it. Pfizer said it would start shipping pills in April to countries where Paxlovid is authorized, and it expects more supplies to become available throughout the year. The company said it expects to produce 120 million treatment courses by the end of 2022.

Crypto investor Katie Haun has raised $1.5 billion for her new fund after leaving Andreessen Horowitz, and shattered a record in the process. Haun Ventures' kickoff marks the largest debut venture fund ever raised by a solo female founding partner, according to Pitchbook.

"Web3 is the new era of the internet, and it deserves a new era of investors." Haun told CNBC in her first broadcast interview since leaving Andreessen Horowitz.

HG Energy LLC, a private equity-backed natural gas explorer, is talking to advisers about selling itself as energy prices surge, according to people with knowledge of the matter.

Founded in 2011 during the early days of the shale boom, HG drills for gas in Ohio, Pennsylvania and West Virginia. Prices for the heating and power-plant fuel have climbed more than 20% in the U.S. this year.