Wall St rallied late on Thursday after earlier concern that rising European government deficits may hurt the global recovery.
The Dow Jones Index closed up 9 points to 11,134. The Nasdaq Composite closed up 14 points at 2519.
Earlier, the FTSE 100 index in London was down 1%, the DAX in Frankfurt was down 1% and the CAC-40 in Paris was down 1.3%.
The Australian 200 Index was down 47 points to 4907.
The NZX 50 index was down 18 points to 3287 on turnover of $74.7 million.
At 8.30am on Friday, the New Zealand dollar was trading at 71.10 US cents, 76.64 Australian cents, 46.21 pence, 66.43 yen and 0.5342 euro, The Trade Weighted Index was at 66.22.
Brent crude oil was trading at $US84.65 per barrel and gold was trading at $US1141.35 per ounce.