Solid growth and resilience in the world's largest economy trumped investors' disappointment on Nvidia's underwhelming results
Investors now await US weekly jobless claims, which have gained prominence
Gold prices were just shy of a record peak, while the dollar firmed and the yen hovered near its highest
US stock futures similarly rose, with S&P 500 futures last up 0.02 per cent while Nasdaq futures advanced 0.12 per cent
Fed chair Jerome Powell speaks in Jackson Hole and investors assume he will acknowledge the case for a cut
Japan's Nikkei rose another 1.7 per cent on Friday, tracking a strong rebound on Wall Street overnight
Nikkei futures were trading at 33,640, suggesting the cash market could open around 2,000 points higher
Japan's Nikkei, tumbled 3 per cent as the strengthening yen clouded the outlook for the country's exporters
Focus will be on whether the BOJ will raise rates, with several Japanese media reporting that the bank would consider raising rates
Regional stocks took their cues from Wall Street, where the S&P 500 and tech-heavy Nasdaq slipped further after Wednesday's frenetic selling
The US dollar was broadly firm, with traders watching out for an inflation reading on Friday and Federal Reserve meeting next week
Investors seemed well-prepared for news that US President Joe Biden had dropped out of the election race and endorsed Vice President Kamala Harris for the Democratic ticket
Moves in the yen against the dollar and other major currencies stole the spotlight on Friday
Chinese blue chips edged up 0.1%, while Hong Kong's Hang Seng index was flat
A slowdown in hiring and small uptick in unemployment is forecast, would leave open the door for US rate cuts
Markets are well prepared for a change given opinion polls have for months put the centre-left party on course for a landslide victory over the Conservatives
US stocks on Friday ended lower after an early rally fizzled
Shares in bellwether chipmaker Micron Technology slid 8 per cent in US after-hours trade as it met rather than topped lofty revenue expectations. Japan's Nikkei fell 1 per cent.
Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term US rate cut expectations in check in a boost to the dollar
Oil prices were flat for the day. Brent futures held at $85.95 a barrel while US crude was little changed at$81.60 a barrel