(RTTNews) - European stocks are likely to open on a positive note Friday amid signs that price pressures may be easing in the United States.
Trading later in the day may be impacted by reaction to the University of Michigan's preliminary report on U.S. consumer sentiment for June, which includes readings on inflation expectations.
The European economic calendar remains light, with foreign trade figures from the euro area and final consumer price data from France awaited later in the day.
Asian stocks traded mostly lower, with Japan's Nikkei recovering from an early slide as the Bank of Japan kept ultra-low interest rates but decided to reduce government bond purchases, signaling the possible beginning of quantitative tightening.
The euro headed for a weekly loss after the European Union (EU) parliament elections resulted in expected gains for far-right parties.
Gold held steady above $2,300 per ounce while oil prices slipped after four straight days of gains.
Overnight, U.S. stocks finished mostly higher as May producer price data added to signs of easing inflationary pressures.
The S&P 500 edged up 0.2 percent to post its fourth consecutive record close and the tech-heavy Nasdaq Composite added 0.3 percent to hit a new record closing high while the Dow slipped 0.2 percent.
Data showed the annual rate of producer price growth slowed to 2.2 percent in May from an upwardly revised 2.3 percent in April.
Separate data revealed the number of Americans filing new claims for unemployment benefits increased to a 10-month high last week.
European stocks slumped on Thursday as Eurozone industrial production unexpectedly ticked lower in April and investors pondered the impact of rising political risk in France.
The pan European STOXX 600 dropped 1.3 percent. The German DAX and France's CAC 40 both plunged by 2 percent while the U.K.'s FTSE 100 shed 0.6 percent.
