Global markets were mostly weaker on Friday night, with the S&P500 pulling back from its record close achieved in the prior session.

Stocks had treaded water for most of the session, but came under pressure after NATO condemned the recent entry of Russian troops into Ukraine, reigniting concerns about the troubled hotspot.

All the economic action occurred over the weekend following the Jackson Hole Symposium.

In her speech, Janet Yellen warned that US rate hikes could come sooner than expected if employment growth remained buoyant.

There was surprisingly little reaction in commodity markets to Yellen's Jackson Hole comments.

Gold rose slightly, with support for the precious metal coming from the simmering tensions between Russia and Ukraine.

All the currency market action has occurred this morning, with the greenback popping higher against its rivals as traders react to the relatively hawkish tone of Yellen's speech.

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