After moving to the upside over the course of the previous session, the major U.S. stock indexes may move in opposite directions in early trading on Friday.<\/p>\n
The Nasdaq 100 futures are currently up by 0.2 percent, suggesting a modest extension of the significant rebound seen in the previous session.<\/p>\n
Meanwhile, the Dow futures are down by 0.2 percent, pointing to a slight pullback by the blue chip index. The S&P 500 futures are little changed.<\/p>\n
Overall trading may be somewhat subdued on the day, with a lack of major U.S. economic data likely to keep some traders on the sidelines.<\/p>\n
Traders also continue to look ahead to the Federal Reserve’s highly anticipated monetary policy decision next Wednesday.<\/p>\n
Key inflation reports are also likely to be in the spotlight next week, as the data could have a significant impact on the outlook for interest rates.<\/p>\n
CME Group’s FedWatch Tool is currently indicating a 73.6 percent chance the Fed will leave rates unchanged next week but a 51.0 percent chance of another quarter point rate hike in July.<\/p>\n
Stocks moved mostly higher during trading on Thursday, with the tech-heavy Nasdaq showing a significant rebound following the sharp pullback seen on Wednesday. With the upward move, the S&P 500 reached its best closing level in well over nine months.<\/p>\n
The major averages ended the day just off their highs of the session. The Nasdaq jumped 133.63 points or 1.0 percent to 13,238.52, the S&P 500 climbed 26.41 points or 0.6 percent to 4,293.93 and the Dow rose 168.59 points or 0.5 percent to 33,833.61.<\/p>\n
In overseas trading, stock markets<\/span> across the Asia-Pacific region moved mostly higher during trading on Friday. Japan’s Nikkei 225 Index surged by 2.0 percent, while China’s Shanghai Composite Index climbed by 0.6 percent.<\/p>\n Meanwhile, the major European markets have moved to the downside on the day. While the U.K.’s FTSE 100 Index has slid by 0.5 percent, the French CAC 40 Index is down by 0.4 percent and the German DAX Index is down by 0.2 percent.<\/p>\n In commodities trading, crude oil futures are inching up $0.14 to $71.43 a barrel after slumping $1.24 to $71.29 a barrel on Thursday. Meanwhile, after jumping $20.20 to $1,978.60 an ounce in the previous session, gold futures are edging up $3.10 to $1,981.70 an ounce.<\/p>\n On the currency front, the U.S. dollar is trading at 139.11 yen versus the 138.92 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0774 compared to yesterday’s $1.0782. <\/p>\n