The selloff in global government bonds took a breather and U.S. stock futures nudged higher in early European trading, as market sentiment steadied at the end of a turbulent week.

Concern around high energy prices and increasing conviction the Federal Reserve will deliver multiple rate hikes this year remain, keeping Treasury yields near the multiyear highs hit Thursday. Ten-year Treasury yields traded at 5.172%, holding at levels not seen since July 2007.

Oil pulled back from intraday highs of above $108 a barrel in the last session, but prices remained stubbornly above $100. Reports the U.S. and Iran discussed a phased deal to reopen the Strait of Hormuz lifted sentiment, but investors are jaded after multiple false dawns in talks. Meanwhile, an attempted missile attack by Houthi rebels Thursday raised the risk of disruptions to Saudi energy infrastructure and supply routes in the region. Brent crude oil for November delivery slipped 0.5% to hover around $106 a barrel.

U.S. stock futures were in the green, with Nasdaq contracts up 0.3%. Futures for the Dow Jones Industrial Average and the S&P 500 both edged up 0.1%. Asian equity markets were mixed, with Hong Kong's Hang Seng index down 1.3%, while Japan's Nikkei added 1.3%. Markets in South Korea, Taiwan and mainland China were closed for holidays. European indexes opened higher, boosted by banks and artificial intelligence-related stocks. The continent-wide Stoxx 600 rose 0.5%.

President Trump and Chinese leader Xi Jinping's summit Thursday offered little in market-moving substance. The yen strengthened against the dollar after Japan's finance minister said President Trump expressed concern about the level of the Japanese currency. Bitcoin nudged back above $84,000, while gold contracts held above $4,300 a troy ounce.

For the day ahead, the University of Michigan's final consumer sentiment index for September will be released. Investors will watch for a fresh round of speeches from Fed policymakers. New York Fed President John Williams and Bank of England Governor Andrew Bailey will speak at a conference in London.