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An ultra-rare event for Wall Street's benchmark index should have optimists smiling from ear to ear.

Wall Street and European stock futures are little changed while Asian shares are mixed. Hong Kong's Hang Seng index fell 0.8%, weighed down by Alibaba's more than 5% tumble after its earnings failed to impress investors.

TOKYO (Reuters) -The Bank of Japan must hold off raising interest rates for the time being, its board member Toyoaki Nakamura said on Friday, warning of growing downward pressure on the economy from higher U.S. tariffs. Nakamura, known as the most dovish member of the board, said the central bank must guide monetary policy "cautiously" with due attention to how extremely high uncertainty over U.S. trade policy could affect corporate and household activity. "Japan's economy is facing mounting downward pressure," as steep U.S. tariffs, including on its mainstay automobile sector, could seriously hurt corporate profits, Nakamura said in a speech.

TOKYO (Reuters) -Credit ratings agency Fitch on Thursday placed five Taiwanese life insurers under review for potential downgrades after a sharp surge in the Taiwanese dollar this month put stress on their balance sheets. Fitch put Cathay Life Insurance, Fubon Life Insurance, KGI Life Insurance, Nan Shan Life Insurance and Taiwan Life Insurance on "Rating Watch Negative" due to the "substantial currency mismatch" produced by their "sizeable" U.S. dollar holdings, the ratings agency said in a press release.

Markets have calmed somewhat after the turmoil unleashed by Trump's on-again, off-again tariffs offensive, aimed at compelling companies to base manufacturing inside the United States. U.S. futures were little changed early Friday.

Markets have calmed somewhat after the turmoil unleashed by Trump's on-again, off-again tariffs offensive, aimed at compelling companies to base manufacturing inside the United States. U.S. futures were little changed early Friday.

SYDNEY (Reuters) -Asian stocks were set to end a strong week on a softer note on Friday as the euphoria over U.S.-China trade talks faded, while firmer bets for policy easing in the United States sparked a rally in beaten-down bond markets. Oil prices steadied after plunging over 2% overnight on news of a potential U.S.-Iran nuclear deal, but they are still up 1% for the week as the global economic outlook brightened. European shares are bracing for a similarly subdued open with little data or events scheduled later in the day to provide a clear catalyst.

SINGAPORE (Reuters) -The dollar fell in tandem with U.S. Treasury yields on Friday after downside surprises on U.S. economic data this week cemented bets of more Federal Reserve rate cuts this year. Most of the action in the foreign exchange market came from the dollar's moves against the South Korean won, where it fell sharply for a second straight day on news that Washington and Seoul discussed the dollar/won market earlier this month. "Speculation is once again mounting that President Trump favours a weaker dollar, potentially pressuring other governments to allow their currencies to appreciate in trade negotiations," said George Vessey, lead FX and macro strategist at Convera.

Oil prices extended declines on Friday under increased supply pressure from an OPEC+ output hike and the prospect of an Iranian nuclear deal, yet are heading for a second consecutive weekly gain due to easing U.S.-China trade tensions. Both contracts fell more than 2% in the previous session following a selloff on the prospect of an Iranian nuclear deal. U.S. President Donald Trump said the United States was nearing a nuclear deal with Iran, with Tehran "sort of" agreeing to its terms.

(Reuters) -A number of high-profile asset managers cut their stakes in spot bitcoin exchange-traded funds amid a 12% drop in the cryptocurrency's price in the first quarter of 2025, according to recent regulatory filings. This marks a shift from previous quarters when asset managers had typically increased their holdings in spot bitcoin ETFs, as shown in previous quarterly 13-F filings with the Securities and Exchange Commission. Spot bitcoin ETFs, which made their market debut in January 2024, now paint a more complex picture.