Stocks dipped at the end of a record-setting week after lackluster results from Europe's Volkswagen, LVMH and Puma. The dollar advanced.

China's central bank pumped a sizeable amount of cash into its financial system, a move seemingly intended to stop a bond selloff gaining momentum and destabilizing financial markets.

Asian stocks slipped, with a seven-day global equity rally losing steam as uncertainty over the Federal Reserve's rate-cut trajectory sapped risk appetite. Shares in Hong Kong dropped, while the Topix index retreated from its record-high close on Thursday. The dollar rose slightly.

Stocks closed at all-time highs as Alphabet's results showed solid demand for artificial intelligence, bolstering confidence in the technology that has powered the bull market. Signs of job strength ahead of next week's Federal Reserve decision lifted Treasury yields.

Indian Commerce Minister Piyush Goyal said he was optimistic that his country could reach an agreement with the US ahead of an Aug. 1 deadline to avert threatened tariffs of 26%.