Australia

Australian shares are set to open lower, after The Magnificent Seven stocks in the US fell sharply dragging the broader market lower as quarterly results failed to boost sentiment.

ASX futures were down 0.52% or 63 points as of 8:00am on Friday, suggesting a lower open.

Stocks fell sharply with investors assessing earnings season for big technology companies with growing skepticism.

Microsoft and Meta Platforms reported better-than-expected results, but that wasn't enough to lift the stocks.

The results weighed on broader markets and underscored how big-tech companies are facing a tougher crowd this earning season.

The tech-heavy Nasdaq led the way down, shedding 2.8%. The S&P 500 fell around 1.9%, while the Dow industrials retreated 0.9%.

In commodity markets, Brent crude oil was up 0.8% to US$73.16 a barrel, while gold was unchanged at US$2,744.06.

The Australian dollar was at 65.76 US cents, up from its previous close of 65.69.

Asia

Chinese shares closed higher. The benchmark Shanghai Composite Index rose 0.4% to 3,279.82, and the Shenzhen Composite Index added 0.9% to 1,991.76.

Hong Kong shares ended lower. The benchmark Hang Seng Index lost 0.3% to 20,317.33.

Japanese shares closed lower. The Nikkei Stock Average fell 0.5% to 39,081.25.

India shares ended lower. The BSE SENSEX dropped 0.7% to 79,389.06.

Europe

Stocks in the U.K. finished lower. The FTSE 100 Index slipped 0.6% to 8,110.10.

In Europe, shares closed lower. Germany's DAX lost 0.9% to 19,077.54, and France's CAC 40 fell 1.0% to 7,350.37.

North America

U.S. stocks ended lower. The DJIA dropped 0.9% to 41,763.46, the S&P 500 slipped 1.9% to 5,705.45, and the Nasdaq lost 2.8% to 18,095.15.

Among S&P 500 companies, the top three gainers were Paycom Software Inc, surging 21.31%, Entergy Corp jumped 15.12%, and International Paper Co lifted 13.26%.

The biggest decliners were Huntington Ingalls Industries Inc which dropped 26.16%, The Estee Lauder Companies Inc fell 20.90%, and Aptiv PLC lost 17.72%.