Social networking giant ready to start trading at $38 a share; Yahoo reportedly in deal to sell at least some of its Alibaba assets back to the Chinese e-commerce company.

Europe stocks traded choppy with losses for miners and drinks makers, while banks rebounded from earlier losses related to a downgrade of Spanish banks by Moody’s Investors Service late the prior day, amid talk of a ban on short selling of those institutions.

Oil futures extend their losses Friday, looking at a sixth consecutive day of declines as investors remain concerned about global growth and demand for oil as the euro zone’s debt problems rage on.

Energy stocks pivot away from selling that’s gripped the sector for much of the month of May.