Global Markets Mixed as U.S.-China Trade Truce Boost Loses Momentum

By Dow Jones Newswires StaffGlobal stocks were mixed and U.S. stock futures pointed to an unchanged open after a strong start to the week that was boosted by the U.S.-China trade truce.The dollar and Treasury yields eased early Friday in Europe as money markets continued to bet on interest-rate cuts by the Federal Reserve after this week's soft CPI print. April housing starts data land later.U.S. Treasury yields dropped in early European trade, extending Thursday's trend. The two- and 10-year Treasury yields were last down around 3 basis points each to 3.944% and 4.421%, respectively, according to LSEG data.The dollar was lower after lower-than-expected U.S. consumer prices data and persistent pressure on oil prices added to the sense that inflationary pressures are easing, Deutsche Bank analysts said in a note. The DXY dollar index was last down 0.3% to 100.576.U.S. stock futures were trading flat across the board. Asian shares ended mixed. Japan's Nikkei fluctuated between positive and negative territory after first-quarter GDP data revealed that Japan's economy contracted for the first time in a year. South Korea's Kospi closed 0.2% higher. In China, shares were mixed as focus shifts to industrial output and retail sales data on Monday.European stock markets rose at the open. The Stoxx Europe 600 climbed 0.5%. Other stocks in Europe were up as France's CAC 40 gained 0.4% and Germany's DAX rose 0.5%. The U.K's FTSE 100 added 0.5%.Oil prices were headed for a modest weekly gain but concerns over OPEC+ supply and a potential Iran deal continue to weigh on sentiment. Brent crude and WTI were last flat at $64.56 and $61.63 a barrel, respectively, after dropping more than 2% in the previous session.Gold prices are on track for a weekly loss of nearly 4% as easing trade tensions between the U.S. and China weaken demand for safe-haven assets. In early trading, futures fall 0.3% to $3,216.80 a troy ounce, while the U.S. dollar trades 0.2% higher on the week, making bullion more expensive for holders of other currencies.Write to Barcelona Editors at [email protected]