Australia

Australian shares are set to open lower, after a mixed session on Wall Street.

ASX futures were down 0.1% or 8 points as of 8:00am on Friday, suggesting a lower open.

In the US, the artificial-intelligence trade and Tesla powered the Nasdaq and the S&P 500 to fresh records Thursday, while the blue-chip Dow Jones Industrial Average continued to sputter.

The tech-laden Nasdaq Composite rose 0.3%. The S&P 500 added 0.2%, paced by a 1.4% rise in information technology stocks. The Dow Jones Industrial Average shed 0.2%, or 65 points, its third straight daily decline.

In commodity markets, Brent crude oil was up 0.2% to US$82.75 a barrel, while gold was flat at US$2,303.81.

In local bond markets, the yield on Australian 2 Year government bonds was down at 3.96% while the 10 Year yield was also down at 4.19%. US Treasury notes were down, with the 2 Year yield at 4.70% and the 10 Year yield at 4.24%.

The Australian dollar was 66.34 US cents, down from its previous close of 66.35. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was up at 99.83.

Asia

Chinese shares ended lower, weighed by retail and property stocks. The benchmark Shanghai Composite Index closed 0.3% lower at 3,028.92, the Shenzhen Composite Index declined 0.6%, and the ChiNext Price Index slipped 0.1%. Investors are watching for the People's Bank of China Medium-term Lending Facility (MLF) rate announcement later in the week to get a sense of Beijing's monetary policy direction. Among major stocks, Poly Developments & Holdings fell 2.5% and Midea Group was 1.9% lower. Gainers included China Mobile and China Telecom, which rose 0.9% and 0.7%, respectively.

Hong Kong shares rose, with the Hang Seng Index ending 1.0% higher at 18,112.63. The Hang Seng Tech Index added 1.3%. Investors are digesting the U.S. Federal Reserve's latest interest rate decision. The central bank held its benchmark rate steady on Wednesday, and Fed officials penciled in just one interest-rate cut for this year. Among major stocks, BYD gained 6.8% after getting the lowest additional EU tariffs among Chinese EV companies, while SMIC rose 3.1%. Decliners included Wuxi Biologics, which dropped 2.1% and NetEase, which was 0.75% lower.

Japanese stocks ended lower, dragged by falls in auto and insurance stocks, as caution grows ahead of the Bank of Japan's policy decision on Friday. Toyota Motor dropped 2.5% and Dai-ichi Life Holdings shedded 3.2%. The Nikkei Stock Average fell 0.4% to 38,720.47. Investors will be focusing on any hints of BOJ's future rate increases and a potential reduction in bond purchases. The 10-year Japanese government bond yield fell 2 basis points to 0.965%.

Indian shares ended higher, tracking Wall Street's overnight gains after U.S. data showed signs of easing inflation, boosting Fed rate cut hopes. Investor sentiment was also likely buoyed by cooling consumer prices at home. India's inflation eased to 4.7% on month in May, lower than market expectations of 4.9%, HSBC economists said in a note. Tech and finance shares led the gains. Tech Mahindra rose 1.3% and Tata Consultancy Services put up 1.2%. IndusInd Bank advanced 1.6% and Bajaj Finserv was 0.7% higher. The benchmark Sensex index rose 0.3% to 76,810.90.

Europe

Stocks in the U.K. slipped Thursday, as the FTSE 100 Index fell 0.6% to 8163.67.

Among large companies, Wise PLC posted the largest decline, dropping 11%, followed by shares of THG PLC, which dropped 6.6%. Shares of Victrex PLC dropped 5.7%.

Halma PLC was the biggest gainer during the session, surging 13%, and BT Group PLC surged 4.3%. Severn Trent PLC rounded out the top three movers on Thursday, as shares gained 4.2%.

In Europe, shares closed lower, with the STOXX Europe 600 Index down 1.3% to 516.04, Germany's DAX dropped 2.0% to 18,265.68 and France's CAC 40 also dropped 2.0% to 7,708.02.

North America

The artificial-intelligence trade and Tesla powered the Nasdaq and the S&P 500 to fresh records Thursday, while the blue-chip Dow Jones Industrial Average continued to sputter.

The mixed market came a day after the Federal Reserve indicated it is in no hurry to reduce interest rates despite Labor Department data this week that showed easing inflation for consumers and producers. Though Wall Street has dialed back expectations for the number and timing of rate cuts, traders have been bidding up riskier assets in anticipation of lower borrowing costs.

The tech-laden Nasdaq Composite rose 0.3%. The S&P 500 added 0.2%, paced by a 1.4% rise in information technology stocks. The Dow Jones Industrial Average shed 0.2%, or 65 points, its third straight daily decline.

Treasury yields also declined for a third day in a row. The yield on the benchmark 10-year note slipped to 4.239%, down from 4.294% on Wednesday. Yields fall as prices rise.

Federal Reserve officials penciled in just one interest-rate cut for this year, even after the Labor Department reported the consumer-price index -- a measure of goods and services costs across the economy -- was essentially flat from the month before and up 3.3% from one year earlier. On Thursday, the department said producer prices fell 0.2% in May from the prior month, surprising economists who predicted a rise. Another report showed jobless claims rising more than anticipated.

Taking on more risk in anticipation of benchmark borrowing costs being cut by one quarter of a percentage point could prove to be a mistake if rates are reduced because of deteriorating economic conditions, said Adam Hetts, global head of multi-asset investing at money manager Janus Henderson.

"That's not putting the punchbowl back on the table," Hetts said. "Investors are playing with fire."

Sébastien Page, chief investment officer at T. Rowe Price Group, said corporate earnings, the artificial intelligence boom and market liquidity are all factors more important to his investment decisions than the timing of a rate cut. "We're all too obsessed with 25 basis points," he said.

Among individual stocks, Broadcom, which produces chips and software, led the S&P 500 gainers, rising 12% to close at a record of $1,678.99. Broadcom shares have more than tripled over the past two years, thanks to booming sales tied to the development of artificial intelligence. Late Wednesday, it said sales for its fiscal quarter ended May 5 were 43% higher than a year earlier and beyond Wall Street's expectations.

The Palo Alto, Calif., firm also said it would split its stock 10-for-1 next month in an effort to make its shares more affordable for investors and employees. Split stocks tend to outperform the broader market following their division, thanks to the wider pool of buyers for shares without a comma in the price.

Rival chip-maker Nvidia split its stock at the end of last week. Shares are up 7.2% since, including a 3.5% gain Thursday.

Super Micro Computer, another chip maker, climbed 12% Thursday, edging out Broadcom to pace the S&P 500 higher.

Tesla gained 2.9% after Chief Executive Elon Musk said preliminary voting results show shareholders currently backing proposals to ratify his massive compensation package and move the automaker to Texas.

Paramount Global brought up the rear of the broad index, dropping 6.9% to extend its losses since Shari Redstone ended talks to sell her controlling stake in the company to Skydance Media.

Rival entertainment conglomerate Warner Bros. Discovery lost 6.7%.