Asian stocks gained on Friday on upbeat expectations for the closely-watched U.S. jobs data while the euro continued to probe fresh nine-year lows against the dollar.

The Federal Reserve should leave short-term borrowing costs near zero for a seventh year in a row, a top Fed official urged on Thursday, citing sliding U.S. inflation and still-high unemployment.

McDonald's Corp (MCD.N) will cut 63 jobs at its corporate headquarters as part of a plan to reduce costs by $100 million as it looks to increase sales and reverse traffic declines in its major markets.

The number of Americans filing new claims for unemployment benefits fell last week and job cuts declined sharply in December, suggesting the labor market is tightening.

Global oil prices were little changed for a second straight day on Thursday after better-than-expected U.S. jobs data helped the market hold ground after a 10 percent loss earlier in the week.

U.S. stocks rallied for a second day on Thursday, boosted by expectations the U.S. economy will continue to improve and by hopes for more aggressive action from the European Central Bank.

Supporters and critics of free trade are readying for a bitter battle this year over major free trade deals and legislation to fast-track trade agreements through the U.S. Congress.

Euro zone economic sentiment was unchanged in December against the previous two months, data showed on Thursday, as a more upbeat end-of-year mood in the services and retail sectors and among consumers was offset by a gloomier industry.

Chinese President Xi Jinping pledged on Thursday $250 billion in investment in Latin America over the next 10 years as part of a drive to boost resource-hungry China's influence in a region long dominated by the United States.

The central bank is burning through its foreign reserves and many government services are being cut as Libya reels under the effects of a collapse in oil revenues caused by factional fighting that threatens to tear the country apart.