Australia

Australian shares are set to open higher, while Wall Street took a break for Independence Day.

ASX futures were up 0.02% or 2 points as of 8:00am on Friday, suggesting a higher open.

US markets were closed for the Independence Day federal holiday.

In commodity markets, Brent crude oil was up 0.1% to US$87.43 a barrel, while gold was up 0.02% at US$2,356.69.

In local bond markets, the yield on Australian 2 Year government bonds was unchanged at 4.23% while the 10 Year yield was down at 4.41%. US Treasury notes were unchanged, with the 2 Year yield at 4.71% and the 10 Year yield at 4.36%.

The Australian dollar was 67.24 US cents, up from its previous close of 67.04.

Asia

Chinese shares ended lower, weighed by consumer and property stocks. The benchmark Shanghai Composite Index fell 0.8% to 2,957.57, having struggled to break the key psychological 3,000 level in recent days. The Shenzhen Composite Index lost 1.6% and the ChiNext Price Index declined 0.8%. The losses come despite a positive lead from U.S. equities overnight, which spurred gains among major indexes in the region, with some closing at record highs. Sentiment toward Chinese equities could be cautious as investors await a key political meeting and more data to gauge the strength of the economy. Among major stocks, China Tourism Group Duty Free shed 4.75% after a 10% gain on Wednesday fueled by hopes it can gain from tax reforms. Poly Developments slid 3.0%. Gainers included Lens Technology, which rose 3.4% and Midea Group, which added 2.5%.

Hong Kong shares ended slightly higher, supported by auto and resources stocks. Chinese electric-vehicle makers rose broadly following Tesla's gains overnight in the U.S. after its deliveries beat market expectations. BYD advanced 1.9% and Li Auto was 3.9% higher. Among resources stocks, Zijin Mining gained 2.4% and Aluminum Corp. of China added 2.8%. Pharmaceutical companies weighed on the market, with BeiGene down 2.55% and WuXi AppTec dropping 1.0%. The benchmark Hang Seng Index edged 0.3% higher to 18,028.28; the Hang Seng Tech Index rose 0.6%.

The Nikkei Stock Average ended 0.8% higher at 40,913.65, surpassing the previous record set on March 22. Carmakers and trading houses led gains as a weak yen raised hopes for earnings growth and signs of U.S. economic weakness increased expectations for the Fed's potential rate cuts. Nissan Motor climbed 4.5% and Mitsui & Co. gained 2.8%. Investors are focusing on economic data and their policy implications. The 10-year Japanese government bond yield fell 1.5 basis points to 1.080%.

Indian shares ended slightly higher, supported by tech and auto stocks, with sentiment getting a lift from growing expectations the Fed will cut interest rates in September. The benchmark Sensex rose 0.1% to 80,049.67, closing above the 80000 level for the first time. HCL Technologies was the index's best performer, advancing 2.7%, and Tata Motors added 2.4%. Among individual movers, Lupin rose 7.9% and GE T&D India climbed 3.6% after winning a EUR64 million order from France's Grid Solutions. Decliners included Bajaj Finance, which fell 2.0%, and Wipro, which shed 1.6%.

Europe

Stocks in the U.K. rose Thursday, as the FTSE 100 Index added 0.9% to 8241.26.

Among large companies, Smith & Nephew PLC was the biggest gainer during the session, surging 6.9%, and Bakkavor Group PLC surged 6.1%. Old Mutual Ltd. rounded out the top three movers on Thursday, as shares surged 5.5%.

Fevertree Drinks PLC posted the largest decline, falling 4.4%, followed by shares of Currys PLC, which fell 2.6%. Shares of Zegona Communications PLC fell 2.3%.

In other parts of Europe, the STOXX Europe 600 Index gained 0.6% to 517.54, Germany's DAX rose 0.4% to 18,450.48 and France's CAC 40 added 0.8% to 7,695.78.

North America

US markets were closed for the Independence Day federal holiday.