Asia stocks set to nudge higher following overnight S&P 500 record

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Asia markets were set to trade little changed on Friday following a record close overnight on Wall Street for the S&P 500.

Futures pointed to a muted open for Japanese shares, while Australian stocks gained in early trade.

Markets have been on edge for much of the trading week amid uncertainty over the state of U.S.-China trade negotiations. Talks between the economic powerhouses have reportedly hit a snag over agricultural purchases. Chinese Ministry of Commerce spokesman Gao Feng said overnight that both countries are holding deep discussions about a "phase one" deal, but noted that the rolling back of some tariffs is key to reaching an agreement.

U.S. Federal Reserve Chairman Jerome Powell said Thursday "a day of reckoning" for the U.S. "could be quite far off." Asia markets were set to trade little changed on Friday following a record close overnight on Wall Street for theFutures pointed to a muted open for Japanese shares. The Nikkei futures contract in Chicago was at 23,160 and its counterpart in Osaka was at 23,120. The

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