NEW YORK - US stocks rose 0.2 per cent, boosted by better-than-expected reports on orders for durable manufactured goods and new home sales that eased fears about a sinking economy.
Orders for durable manufactured goods rose 0.8 per cent in June, confounding expectations of a drop of 0.3 per cent.
The Commerce Department said June sales of new single-family homes fell by 0.6 per cent to a seasonally adjusted annual rate of 530,000 units; the market expected sales to total 505,000.
Both reports helped offset concerns raised by a weak reading on existing home sales on Thursday.
The Dow Jones Industrial Average rose 21.41 points, or 0.19 per cent, to 11,370.69 and the Standard & Poor’s 500 broad-market index added 5.22 points to 1,257.76.
The tech-heavy Nasdaq composite gained 30.42 points, or 1.33 per cent, to 2,310.43.
The yield on the 10-year US Treasury bond increased to 4.111 per cent from 4.016 per cent and that on the 30-year bond rose to 4.696 per cent against 4.638 per cent.
LONDON - European stock exchanges ended the week with mixed fortunes but were generally boosted by better than expected economic news from the United States.
In London the FTSE 100 index shed 9.70 points to 5,352.60
FRANKFURT - The Dax lost 3.99 points to 6,436.71
PARIS - The CAC 40 advanced 29.19 points to 4,377.18
TOKYO - Japanese stocks fell two per cent as investors sold exporters such as Toyota Motor Corp on concerns about the health of the US economy and a stronger yen.
The benchmark Nikkei slipped 268.55 points to 13,334.76
HONG KONG - Shares fell as weaker-than-expected US economic data prompted investors to lock in profits.
The benchmark Hang Seng Index dropped 347.01 points to 22,740.71.
WELLINGTON - The benchmark NZSX-50 index dropped 33.07 points to 3254.16.
SYDNEY - The Australian stock market is expected to open higher after Wall St rose Friday on better-than-expected manufacturing and housing data.
At 0650 AEST on the Sydney Futures exchange, the September share price index futures contract rose 24 points to 5,006.
Today, Housing Industry Association (HIA) new home sales data for June is released along with the National Australia Bank second quarter business confidence survey.
Australand Property Group Ltd releases its interim results and Australian Foundation Investment Co Ltd its annual results.
The Australian share market fell over three per cent on Friday after troubling news from National Australia Bank (NAB) related to losses from investments in risky US mortgages, and a weak lead from Wall Street.
The benchmark S&P/ASX200 index finished down 173.6 points, or 3.37 per cent, to 4,970.5 while the broader All Ordinaries shed 157.4 points, or 3.03 per cent, to 5,031.
NYMEX
Oil prices sank to their lowest point in weeks Friday as investors questioned whether crude has cooled enough to reflect a serious deterioration in demand.
Light, sweet crude for September delivery fell $US2.23 to settle at $US123.26 a barrel in on the New York Mercantile Exchange. Earlier the contract dropped as far as $US122.50, its lowest point since June 5.
In London, September Brent crude fell 97 US cents to settle at $US124.52 a barrel on the ICE Futures exchange.
In the latest sign that Americans continue to struggle with soaring energy prices, filling station operators hungry for business ratcheted down the average price for a gallon (3.8 litres) of regular by two cents, according to auto club AAA, the Oil Price Information Service and Wright Express.
COMEX
Precious metals rose Friday as a fresh drop in the dollar and speculation that crude oil’s plunge may soon end fed safe-haven buying of gold, silver and copper.
Gold for August delivery rose $US3.50 to settle at $US926.80 an ounce on the New York Mercantile Exchange.
September silver rose 7.7 US cents to settle at $US17.375 an ounce
Copper for September delivery fell $US2.80 to $US360.50 tonne on the New York Mercantile Exchange.
