Futures trading in Dow, S&P 500 and Nasdaq halted by technical issue

Wall Street is operating on an abbreviated schedule Friday after being closed for the Thanksgiving holiday. Stock trading closes at 1 p.m. ET.

In European trading, Germany’s DAX rose 0.2% as traders awaited inflation data set to be released later in the day.

Britain’s FTSE 100 edged up 0.4% on gains in energy and mining stocks. The CAC 40 in France rose 0.3%.

While developments related to artificial intelligence have been driving recent ups and downs in world markets, the focus remains on the outlook for U.S. monetary policy. Recent comments by Fed officials have helped revive hopes the central bank will cut its benchmark rate again during its meeting next month.

“Everyone is sprinting toward the same conclusion: the Fed will deliver holiday cheer,” Stephen Innes of SPI Asset Management said in a commentary.

In Asia, Japan’s Nikkei 225 closed 0.2% higher to 50,253.91, rebounding from losses earlier in the day. Data showed Japan's housing starts rose 3.2% in October from the same period a year ago, the first annual increase since March. The number defied market expectations of 5.2% decline and reversed a 7.3% drop in September.

Government data also showed Tokyo’s year-on-year core inflation in November remained at 2.8%, unchanged from October and above the Bank of Japan’s 2% target. That reinforces expectations of a gradual shift by the central bank to higher interest rates, although a rate hike is not expected at the Bank of Japan's December meeting.

South Korea’s Kospi dropped 1.5% after the country’s industrial production fell 4% month-on-month in October, more than the 1.1% decline in September.

In Chinese markets, Hong Kong’s Hang Seng index lost 0.3%. The Shanghai Composite index edged up 0.3%.

Brent crude, the international standard for pricing, slipped 7 cents to $62.80 per barrel.