NEW YORK, New York - U.S. stock markets retreated despite a general global uptrend on Friday. Inflation concerns linger ahead of next week's monthly Federal Reserve monetary meeting.

"There was initial investor enthusiasm around inflation data coming in not too far out of expectations. On one hand, the inflation data was hotter than expected, but investors shrugged that off earlier this week thinking that the Fed would not be inclined to raise rates again next week, based on the August inflation data," AXS Investments' Greg Bassuk told CNBC Friday.

"But I think having digested the additional economic data that's come out, as well as ongoing geopolitical pressures and other developments, we're seeing today investors pulling back and taking a breather," he said.

The S&P 500 (^GSPC) The S&P 500 index, representing a broad cross-section of the U.S. stock market, closed at 4,450.32, recording a decline of 54.78 points, or a decrease of 1.22 percent.

The Dow Jones Industrial Average (^DJI) The Dow Jones Industrial Average, a barometer of 30 major American companies, settled at 34,618.24, showing a decrease of 288.87 points, equivalent to a drop of 0.83 percent.

NASDAQ Composite (^IXIC) The tech-heavy NASDAQ Composite index concluded the day at 13,708.33, experiencing a notable decline of 217.72 points, marking a decrease of 1.56 percent.

Global Forex Market Update: Friday's Exchange Rates Report

On foreign exchange markets Friday, traders closely monitored currency pairs as they experienced varying movements. Here are the latest world foreign exchange market quotes:

EUR/USD (Euro / US dollar) The Euro to US dollar exchange rate, EUR/USD, stood at 1.0660, marking an increase of 0.16 percent, equivalent to a change of 0.0017.

USD/JPY (US dollar / Japanese yen) The US dollar to Japanese yen exchange rate, USD/JPY, was at 147.85, reflecting a rise of 0.26 percent, or an increase of 0.0020.

USD/CAD (US dollar / Canadian dollar) The US dollar to Canadian dollar exchange rate, USD/CAD, closed at 1.3525 Friday, showing a gain of 0.13 percent, or an uptick of 0.0017.

GBP/USD (British pound / US dollar) The British pound to US dollar exchange rate, GBP/USD, experienced a decline of 0.19 percent, with the rate settling at 1.2384, representing a decrease of 0.0023.

USD/CHF (US dollar / Swiss franc) The US dollar to Swiss franc exchange rate, USD/CHF, rose by 0.20 percent, reaching 0.8973, which translated to an increase of 0.0018.

AUD/USD (Australian dollar / US dollar) The Australian dollar to US dollar exchange rate, AUD/USD, registered a decline of 0.13 percent, closing at 0.6430, down 0.0008 percent.

NZD/USD (New Zealand dollar / US dollar) The New Zealand dollar to US dollar exchange rate, NZD/USD, saw a decrease of 0.27 percent, resulting in a rate of 0.5895

Global Stock Markets Finish Week On Positive Note

In a good day for global markets, investors witnessed mostly gains as they wrapped up the trading week on Friday. While most indices recorded modest gains, a tiny number experienced minor setbacks. Here's a recap of the closing world stock market quotes for Friday:

CANADA

S&P/TSX Composite index (^GSPTSE) In Canada, the S&P/TSX Composite index bucked the trend, closing at 20,622.34, with a gain of 54.50 points, representing an increase of 0.26 percent.

UNITED KINGDOM

FTSE 100 (^FTSE) - London, United Kingdom The FTSE 100 index closed at 7,711.38, reflecting an increase of 38.30 points, or a rise of 0.50 percent.

EUROPE

ESTX 50 PR.EUR (^STOXX50E) - Eurozone The ESTX 50 PR.EUR, representing the Eurozone, concluded at 4,295.05 Friday, up by 15.30 points, or 0.36 percent.

Euronext 100 Index (^N100) - Euronext The Euronext 100 Index reported an increase of 4.81 points, or 0.36 percent, closing at 1,359.14.

DAX PERFORMANCE-INDEX (^GDAXI) - Frankfurt, Germany Germany's DAX PERFORMANCE-INDEX concluded the day at 15,893.53, showing a positive change of 88.24 points, equivalent to a percent increase of 0.56.

CAC 40 (^FCHI) - Paris, France In Paris, the CAC 40 index wrapped up at 7,378.82, posting a gain of 70.15 points, or 0.96 percent.

BEL 20 (^BFX) - Brussels, Belgium In Belgium Friday, the BEL 20 index rose by 22.63 points, or 0.61 percent, closing at 3,712.38.

RUSSIA

MOEX Russia Index (IMOEX.ME) - Moscow, Russia The MOEX Russia Index concluded at 2,222.51, indicating a decline of 4.14 points, or 0.19 percent.

ASIA

Nikkei 225 (^N225) - Tokyo, Japan Japan's Nikkei 225 surged by 364.99 points, settling at 33,533.09, which marked an impressive percent increase of 1.10.

HANG SENG INDEX (^HSI) - Hong Kong The HANG SENG INDEX closed at 18,182.89, indicating an upswing of 134.97 points, or 0.75 percent.

SSE Composite Index (000001.SS) - Shanghai, China China's SSE Composite Index experienced a slight dip Friday, closing at 3,117.74, down 8.81 points or 0.28 percent.

Shenzhen Index (399001.SZ) - Shenzhen, China Shenzhen's Index fell by 53.00 points, settling at 10,144.59, representing a decline of 0.52 percent.

STI Index (^STI) - Singapore Singapore's STI Index rose by 31.18 points, settling at 3,280.69, reflecting a gain of 0.96 percent.

S&P BSE SENSEX (^BSESN) - Mumbai, India India's S&P BSE SENSEX closed at 67,838.63 Ffriday, marking an increase of 319.63 points, or 0.47 percent.

NIFTY 50 (^NSEI) - Mumbai, India India's NIFTY 50 index closed at 20,192.35, gaining 89.25 points, or 0.44 percent.

IDX COMPOSITE (^JKSE) - Jakarta, Indonesia The IDX COMPOSITE index in Indonesia saw a gain of 23.46 points, closing at 6,982.79, a rise of 0.34 percent.

FTSE Bursa Malaysia KLCI (^KLSE) - Kuala Lumpur, Malaysia Malaysia's FTSE Bursa Malaysia KLCI closed at 1,459.03, reflecting an increase of 9.45 points, or 0.65 percent.

KOSPI Composite Index (^KS11) - Seoul, South Korea South Korea's KOSPI Composite Index gained 28.39 points Friday, closing at 2,601.28, a rise of 1.10 percent.

TSEC weighted index (^TWII) - Taipei, Taiwan Taiwan's TSEC weighted index experienced an increase of 113.36 points, closing at 16,920.92, marking a gain of 0.67 percent.

OCEANIA

S&P/ASX 200 (^AXJO) - Sydney, Australia The S&P/ASX 200 index in Australia finished strongly, with a gain of 92.50 points, or 1.29 percent, closing at 7,279.00.

ALL ORDINARIES (^AORD) - Sydney, Australia Australia's ALL ORDINARIES index ended on a high note too Friday, gaining 99.90 points, or 1.35 percent, closing at 7,482.60.

S&P/NZX 50 INDEX GROSS (^NZ50) - Wellington, New Zealand New Zealand's S&P/NZX 50 INDEX GROSS concluded at 11,347.73, with an increase of 34.20 points, or 0.30 percent.

AFRICA

Top 40 USD Net TRI Index (^JN0U.JO) - Johannesburg, South Africa South Africa's Top USD Net TRI Index saw a decrease of 21.21 points, ending at 3,885.94, marking a fall of 0.54 percent.

MIDDLE EAST

TA-125 (^TA125.TA) - Tel Aviv, Israel In Tel Aviv, Israel, the TA-125 index ended at 1,865.74 Friday, up by 9.24 points, or 0.50 percent.

EGX 30 Price Return Index (^CASE30) - Cairo, Egypt Egypt's EGX 30 Price Return Index finished at 19,540.30, reflecting an increase of 178.60 points, or 0.92 percent, with a substantial trading volume of 142.998 million shares.