European equities are poised for a positive opening on Friday, reflecting signs that inflationary pressures in the United States might be subsiding.
Later trading could be influenced by the market's response to the University of Michigan's preliminary June report on U.S. consumer sentiment, which includes key metrics on inflation expectations.
The European economic agenda is relatively light today, with anticipated releases including foreign trade figures from the eurozone and final consumer price data from France.
Asian markets largely traded lower, although Japan's Nikkei managed to recover from an initial downturn. This recovery followed the Bank of Japan's decision to maintain its ultra-low interest rates while reducing government bond purchases, potentially indicating the onset of quantitative tightening.
The euro is on track for a weekly decline after the European Union Parliament elections showed expected gains for far-right parties.
Gold prices remained stable above $2,300 per ounce, while oil prices dipped after a four-day winning streak.
In the United States, equities finished mostly higher on Thursday. Producer price data for May reinforced indications of easing inflation. The S&P 500 increased by 0.2%, achieving its fourth successive record close, and the Nasdaq Composite climbed 0.3% to a new record high, while the Dow Jones Industrial Average fell by 0.2%.
Data indicated that the annual growth rate for producer prices slowed to 2.2% in May from an upwardly revised 2.3% in April.
Additionally, new claims for unemployment benefits in the U.S. hit a 10-month high last week.
European stocks fell on Thursday, with Eurozone industrial production unexpectedly decreasing in April and investors weighing the implications of rising political risks in France.
The pan-European STOXX 600 declined by 1.3%. Germany's DAX and France's CAC 40 each dropped by 2%, while the UK's FTSE 100 edged down by 0.6%.
