Investors will be keeping an eye on the Japanese yen, which rose to a more than two-month high of 150.52 per U.S. dollar on Thursday.

Overnight in the U.S., the S&P 500 tumbled and bond yields spiked after consumer prices rose more than expected in January.

Markets could become volatile if trade tensions escalate or if Trump intensifies tariff policies. The 10-year Treasury yield dropped to 4.47 percent from 4.54 percent, continuing its fluctuations since the Federal Reserve began rate cuts in September.

Microsoft was the strongest force pushing the S&P 500 upward. It rose 1.3% after saying it had developed what it calls the world’s first “quantum processing unit,” which cou