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Global markets were mixed on Friday as investors weighed softer US inflation data against weak earnings signals from Nike (NYSE:NKE), a fresh interest rate increase from the Bank of Japan, and a new financial support package for Ukraine agreed by the European Union.
US equity futures edged slightly higher, extending gains from the previous session after a cooler-than-expected inflation reading fuelled optimism that the Federal Reserve could move toward looser policy next year. However, losses in Nike shares capped broader upside.
By 03:30 ET, S&P 500 futures were up 17 points, or 0.3%, Nasdaq 100 futures gained 105 points, or 0.4%, and Dow Jones futures added 7 points, or 0.1%.
Wall Street closed higher on Thursday, snapping four consecutive losing sessions, as the inflation data encouraged hopes of additional Fed rate cuts in 2026. Even so, the main indices remain on track for weekly declines. The S&P 500 and Dow Jones Industrial Average are down about 0.8% and 1% respectively for the week, while the Nasdaq Composite has also fallen roughly 0.8%.
Later on Friday, investors will watch the University of Michigan’s consumer sentiment survey and November existing home sales for further clues on the direction of US monetary policy in the year ahead.
Nike is firmly in focus after its shares slid in premarket trading. The sportswear group reported another quarterly decline in revenue from its Greater China business during its fiscal second quarter, marking the sixth consecutive quarter of falling sales in the region.
CEO Elliott Hill acknowledged the challenge during the company’s post-results call, saying that “it’s clear we need to reset our approach to the China marketplace,” which contributes around 15% of Nike’s total revenue.
European Union leaders have approved a €90 billion ($105 billion) aid package to support Ukraine’s defence over the next two years, opting to fund the assistance through joint borrowing rather than tapping frozen Russian assets.
EU governments had previously debated whether to use around €210 billion of immobilised Russian assets, most of which are held in Belgium, to back a reparations-style loan. Ultimately, leaders chose to raise the funds collectively underwritten by the EU budget.
“Ukraine will only repay this loan once Russia pays reparations,” EU Council President Antonio Costa said on Friday in a statement. “The only way forward is a ceasefire and a negotiated peace. Our political and financial support to Ukraine will not falter.”
The deal is designed to provide Ukraine with financial certainty while reinforcing Europe’s role in shaping US-led efforts to negotiate an end to the war.
Ukrainian President Volodymyr Zelenskyy welcomed the decision, saying, “I am grateful to all leaders of the European Union for the European Council’s decision,” and stressing the importance of ensuring that “Russian assets remain immobilized and that Ukraine has received a financial security guarantee for the coming years.”
The Bank of Japan raised interest rates earlier in the session, following guidance it had previously signalled, and left the door open to further tightening if economic conditions and inflation remain supportive.
The BOJ lifted its short-term policy rate to 0.75% from 0.5%, taking borrowing costs to their highest level since 1995. This marks the central bank’s second rate increase this year, following a 25-basis-point hike in January.
Policymakers said they expect Japanese companies to continue increasing wages steadily in 2026, alongside an improvement in corporate profits. With labour market conditions expected to remain tight, the BOJ said it was “highly likely” that both wages and inflation will rise at a moderate pace.
Despite the hike, the central bank emphasised that real interest rates remain “significantly negative” and that overall financial conditions are still accommodative. The BOJ added it stands ready to raise rates further and reduce monetary stimulus if the economy evolves broadly in line with its forecasts.
US President Donald Trump has signed an executive order setting out plans to return American astronauts to the moon by 2028 and to establish a permanent lunar outpost in the following years.
In the order, Trump said the US must pursue a space policy that advances national security interests and “lay the foundation for a new space age.”
The directive prioritises NASA’s Artemis programme, targeting a return to the moon by 2028 and laying the groundwork for a sustained human presence by 2030. It also calls on federal agencies, including the Pentagon and intelligence services, to develop a comprehensive space security strategy, while curbing oversight powers of the National Space Council.
Trump had previously outlined similar ambitions during his first term, when he set a 2024 target for a lunar return.
Crude prices were on course for a second consecutive weekly decline, as worries about oversupply and growing optimism around a potential Russia-Ukraine peace agreement outweighed concerns over possible supply disruptions linked to a US-announced blockade of Venezuelan oil shipments.
Brent futures slipped 0.1% to $59.74 per barrel, while US West Texas Intermediate crude fell 0.1% to $55.95. Both benchmarks are set to post weekly losses of more than 2%.
Markets continue to factor in expectations that global oil supply will exceed demand into 2026, driven by rising output from non-OPEC producers and slower consumption growth in major economies. US crude prices are down more than 21% so far this year, marking their weakest annual performance since 2018, while Brent has fallen about 20%, its worst showing since 2020.
Earlier in the week, Trump announced a blockade targeting tankers carrying Venezuelan oil already under US sanctions, although the scope and enforcement of the move remain unclear. He also said on Thursday that talks aimed at ending the war in Ukraine are “getting close to something” ahead of a planned meeting between US and Russian officials this weekend.
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Nike (NYSE:NKE) delivered fiscal second-quarter results that topped market expectations on both earnings and revenue, but concerns over shrinking margins and rising cost pressures triggered a sharp sell-off in the stock. The sportswear giant said improved performance in its North American business helped counter weaker demand in China, even as higher U.S. tariffs pushed up […]
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