European stocks are seen opening largely unchanged on Friday as investors ponder an early end to stimulus. Soothing market fears, two senior U.S. central bankers said that the Fed is in no hurry to start winding down its bond-buying program and policymakers have flexibility to increase the pace of bond buying should the economy weaken again.
Meanwhile, European Central Bank President Mario Draghi strongly defended the ECB's approach to the debt crisis and the conduct of monetary policy, saying the bank's measures "gave breathing space from markets driven by panic, which were forcing the economy into a position where inappropriately high interest rates would make default a self-fulfilling prophecy." The financial markets are fully confident that the euro is a strong and stable currency, he said in a speech in London.
Looking ahead, European data slated for release later in the day include final figures of German first-quarter GDP, Gfk consumer confidence data for June and the German IFO business climate survey results for May.
Across the Atlantic, traders will likely keep an eye on the Commerce Department's report on durable goods orders for April, although trading activity may be somewhat subdued ahead of the long weekend. The U.S. markets will be closed on Monday for Memorial Day.
Asian stocks are broadly lower, with Australia's All Ordinaries index losing 1.7 percent, dragged down by mining and banking shares on worries about Chinese economic growth.
Japan's Nikkei index is moving down 0.6 percent, erasing an early rally, on concerns volatility in the domestic market may derail the recent rally in risk assets. Bank of Japan Governor Haruhiko Kuroda stressed the central bank's resolve to stabilize bond yields through market operations, but said there are no targets for stock prices or currency rates. The markets in Malaysia and Singapore are closed for public holidays.
In domestic corporate news, global miner Rio Tinto Plc. announced that it has cut about 100 jobs as part of efforts to reduce operating costs at its Kennecott Utah Copper unit.
French nuclear giant Areva SA has stopped production at its Somair mine in northern Niger after an attack on the site earlier on Thursday.
Assystem announced that it has bought a block of 1,777,011 shares held by France's sovereign wealth fund, Fonds Stratégique d'Investissement, at a price of 16 per share, in line with the agreement announced on 8 April.
European stocks tumbled on Thursday, weighed down by weaker than expected manufacturing data from China and Bernanke's comments on withdrawing some of the liquidity in the system. Benchmark indexes in Germany, France and the U.K. fell about 2 percent each, while the SMI of Switzerland lost 2.8 percent.
U.S. stocks ended off their day's lows overnight, with an upbeat outlook from HP, encouraging housing data as well as a report showing a bigger than expected drop in initial jobless claims last week helping to limit the downside. The Dow and the tech-heavy Nasdaq slipped about 0.1 percent each, while the S&P 500 dropped 0.3 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.