Stock futures shifted lower on Friday morning as Wall Street looks to extend its year-end rally. Futures for the Dow Jones Industrial Average dipped 105 points, or about 0.2%. S&P 500 futures slipped 0.05% and Nasdaq 100 futures were down 0.1%. The move in futures comes on the heels of a bounce-back day on Wall Street. The Dow rose 322 points, or about 0.9%, erasing most of its losses from Wednesday. The S&P 500 and Nasdaq Composite rose 1.0% and 1.3%, respectively. The small-cap Russell 2000 led the way with a gain of 1.7% on Thursday, continuing a recent trend of the market rally broadening out as bond yields fall and traders bet on rate cuts from the Federal Reserve. The small-cap index is on pace for its sixth straight positive week. “Basically, the trend is your friend. Right now the trend is up in stocks. … Small-caps and mid-caps really like easing conditions by the Fed,” John Spallanzani of Miller Value Partners said on “Closing Bell.” The three major averages are on pace for their eighth positive week in a row — a first for the S&P 500 since 2017 and for the Dow dating back to 2019. The S&P 500 is up 0.58% for the week, while the Dow has a gain of 0.27%. The Nasdaq is up 1% in the period. Nike could be a key stock to watch on Friday, as the Dow component was down 11% in extended trading after warning of soft revenue in its fiscal second-quarter earnings report. On the data front, consumer spending and a key inflation reading are due out before the bell on Friday morning. The U.S. stock market will be closed on Monday for Christmas. The 10-year U.S. Treasury yield fell marginally Friday as investors readied for a shorter trading day ahead of the holidays. The yield on the benchmark 10-year Treasury note was seen opening less than a basis point lower at 3.8894% after inching up slightly on Thursday. The yield on the 30-year Treasury bond was less than one basis point higher at 4.0351%, while the 2-year yield was fell less than one basis point to 4.3485%. Asia-Pacific markets were mixed Friday, with the Bank of Japan’s October meeting minutes showing board members debated on how to communicate the shift in their yield control stance. Hong Kong’s Hang Seng index tumbled almost 2%, leading losses in Asia as shares of heavyweights Tencent and NetEase plunged after China released draft rules on curbing excessive gaming and spending. Separately, the mainland Chinese CSI 300 rose 0.19% and ended at 3,337.23. In Australia, the S&P/ASX 200 fell marginally, staying largely near the flatline in the trading session and closing at 7,501.6. Japan’s Nikkei 225 rebounded marginally after leading losses in Asia on Thursday, with the index ending at 33,169.05 and the Topix gaining 0.45% to close at 2,336.43. South Korea’s Kospi reversed earlier gains to end the day marginally below the flatline, while the small-cap Kosdaq slid 0.56% and finished at 854.62. Oil prices rose in early trade on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. Brent crude futures were up 23 cents, or 0.3%, to $79.62 a barrel by 0121 GMT, while U.S. West Texas Intermediate crude futures were up 22 cents, also 0.3%, at $74.11 a barrel. Gold prices climbed on Friday to their highest level in nearly three weeks as rising bets on Federal Reserve interest rate cuts early next year pushed the dollar and bond yields lower ahead of much awaited U.S. inflation data. Spot gold was up 0.2% at $2,048.99 per ounce, as of 0513 GMT, after hitting its highest since Dec. 4 earlier in the session. Bullion has risen 1.5% so far this week. U.S. gold futures rose 0.5% to $2,060.50 per ounce.