FX.co ★ U.S. Stocks May Move To The Downside In Early Trading

After a mixed performance in the previous session, stocks may trend downward in early trading on Friday. Major index futures currently suggest a slightly lower opening for the markets, with S&P 500 futures down by 0.1 percent.

Wall Street's early trading may be influenced by Nvidia (NVDA), as shares of the AI chipmaker are down 1.6 percent in pre-market trading.

Nvidia's advance had contributed to modest gains early on Thursday, but a sharp pullback by this market leader weighed on both the Nasdaq and the S&P 500 during the session.

Overall trading activity may be somewhat subdued as investors await further clarity on the interest rate outlook.

Soon after the market opens, the National Association of Realtors is scheduled to release its report on May's existing home sales. The forecast suggests a decrease to an annual rate of 4.10 million from April's rate of 4.14 million.

The Conference Board is also set to release its report on leading economic indicators for May. The leading economic index is expected to decrease by 0.3 percent after a previous decline of 0.6 percent in April.

On Thursday, following a modest initial uptrend, major U.S. stock indexes exhibited divergent movements. The Nasdaq and the S&P 500 fell from early highs into negative territory, whereas the narrower Dow continued to show strength.

The Dow closed up 299.90 points, or 0.8 percent, reaching a nearly one-month high at 39,134.76. Meanwhile, the S&P 500 fell by 13.86 points, or 0.3 percent, to 5,473.17, and the Nasdaq dropped 140.64 points, or 0.8 percent, to 17,721.59.

In overseas trading, stock markets across the Asia-Pacific region mostly declined on Friday. Japan's Nikkei 225 Index edged down by 0.1 percent, China's Shanghai Composite Index dipped by 0.2 percent, and Hong Kong's Hang Seng Index tumbled by 1.7 percent.

Major European markets have also moved lower. The U.K.'s FTSE 100 Index has slid by 0.7 percent, while both Germany's DAX Index and France's CAC 40 Index are down by 0.6 percent.

In commodities trading, crude oil futures have edged up by $0.05 to $81.34 a barrel after rising $0.58 to $81.29 a barrel on Thursday. Meanwhile, gold futures are up by $8.40 to $2,377.40 an ounce following a jump of $22.10 to $2,369 an ounce in the previous session.

On the currency front, the U.S. dollar is trading at 158.96 yen compared to 158.93 yen at Thursday's close of New York trading. Against the euro, the dollar is currently valued at $1.0690, down from yesterday's $1.0702.