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US:

Wall Street stocks ended mixed with gains in Cisco Systems following an upbeat forecast, while UnitedHealth tumbled after a report of a criminal investigation into the insurer.

Asia:

Asian markets traded mixed on Friday after Japan’s GDP data and ahead of other economic data from the region.

India:

On Thursday, the Indian stock market ended with stellar gains led by buying across the board, with the benchmark Nifty 50 closing above the 25,000-mark.Market is expected to open on a gap up note and likely to witness positive move during the day.

Global economy

US producer inflation unexpectedly fell in April. The producer price index (PPI) contracted by 0.5% in April from a month earlier. This was below the Briefing.com’s market consensus, which expected a 0.3% rise in prices from March. US retail sales growth slowed in April. Retail sales edged up 0.1% last month after an upwardly revised 1.7% surge in March. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, unchanged after a previously reported 1.5% jump in March. Japan's economy shrank for the first time in a year in the March quarter at a faster pace than expected, Reuters reported. Real GDP contracted an annualised 0.7% in January-March, much bigger than a median market forecast for a 0.2% drop. It followed a revised 2.4% increase in the previous quarter. On a QoQ basis, Japan's economy shrank 0.2% compared with market forecasts for a 0.1% contraction.

Commodities:

Oil prices were little changed in Asian trading on Friday after sharp declines in the previous session, as expectations of a nuclear deal between Iran and the U.S. sparked oversupply concerns. Gold prices eased on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar and waning trade war concerns dampened its appeal as a safe-haven asset.

Currency:

The dollar fell in tandem with US Treasury yields on Friday after downside surprises on US economic data this week cemented bets of more Federal Reserve rate cuts this year.

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