Authors: Jeanette Torres
(NEW YORK) -- Asian markets opened higher but quickly lost their footing Friday, closing either down or with minimal gains. This, after the Dow Jones Industrial Average registered a change of 400 points or more for a fourth consecutive day.
Japan's Nikkei index dropped 0.2 percent and South Korea's Kospi also fell, going down by 1.3 percent. Hong Kong’s Hang Seng rose slightly by 0.13 percent; the Shanghai Composite rose 0.45 percent. Australia's S&P/ASX 200 also saw gains, climbing by 0.82 percent.
The mixed numbers overseas come after the Dow managed to gain 423 points on Thursday to end trading at 11,143. The S&P 500 and the Nasdaq also ended the day on a high, adding 52 points and 112 points, respectively.
The gains on Wall Street followed news that claims for unemployment benefits dropped to a four-month low last week.
U.S. stock futures are up ahead of Friday's opening.
Meanwhile, crude oil prices are hovering around $85 a barrel.
And in related news, the government will release two reports on Friday: one on retail sales in July and another on business inventories in June. Last month's retail sales report is expected to show gains thanks in part to car sales.
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