Wall Street showed mixed performance as investors awaited the Fed's policy decision next week. With inflation easing and labor market weakness, the central bank is expected to cut rates by 25 basis points, with slim odds of a deeper cut. Traders will closely watch Powell's remarks for signals on future moves, as further cuts in October and December remain likely but data-dependent.

University of Michigan released preliminary data showing consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. It said its Consumer Sentiment Index fell to 55.4 in September from 58.2 in August.

On the inflation front, year-ahead inflation expectations held steady at 4.8 percent while long-run inflation expectations rose for the second straight month, jumping to 3.9 percent in September from 3.5 percent in August. Biotechnology stocks substantial moved downwards , with the NYSE Arca Biotechnology Index tumbling by 2.5 percent after ending Thursday's trading at its best closing level in seven months.

Housing stocks too were significantly weak , moving notably lower along with airline, healthcare and pharmaceutical stocks. Networking stocks too considerably weak, as reflected by the 2.3 percent slump by the NYSE Arca Networking Index.

Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index advanced by 0.9 percent, while Hong Kong's Hang Seng Index shot up by 1.2 percent. European stocks ended the day roughly flat while the U.K.'s FTSE 100 Index dipped by 0.2 percent, the French CAC 40 Index and the German DAX Index both closed near the unchanged line.

In the bond market, treasuries notable moved downwards after trending higher in recent sessions. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, jumped 5 bps to 4.06 percent.

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