US durable goods orders rose by 1.9pct in May, above forecasts centred on a 1.5pct gain. The US economy grew at a 1.9pct annual pace in the March quarter, above the previous estimate of 1.8pct.

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European shares were mixed on Friday. Investors continued to fret about the debt positions of European nations, turning their attention to the stability of Italian banks. But other investors sought to lock in profits early ahead of month and quarter end given uncertainties about the coming week. The FTSEurofirst index fell by 0.1pct but while the German Dax fell 0.4pct, the UK FTSE rose by 0.4pct. The FTSEurofirst index fell 1.1pct last week - its eighth weekly slide.

US sharemarkets slumped on Friday. Jitters continue on the upcoming vote on the Greek austerity package. Some investors locked in profits ahead of month and quarter end. The Dow Jones fell by 115pts or 1.0pct with the S&P 500 down 1.2pct and the Nasdaq lost almost 34pts or 1.3pct. Over the week the Dow lost 0.6pct and the S&P 500 eased by 0.2pct but the Nasdaq rose by 1.4pct. And the broader Russell 2000 index actually rose by 2.0pct over the week ahead of index rebalancing.

US treasuries rose on Friday (yields lower) as investors shifted from stocks to bonds. US 2yr yields fell 1pt to 0.337pct and US 10yr yields fell by 4.5pts to 2.87pct. Over the week US 2yr yields fell by 4.5pts and US 10yr yields lost 7pts.

The US dollar rose against the Euro and commodity currencies in European and US trade on Friday. The Euro fell from highs near US$1.4305 to US$1.4140, before recovering some ground in US trade to end the session at US$1.4085. The Euro has lifted to US$1.4210 this morning. The Aussie dollar fell from highs near US106.00c to US104.90c and ended US trade near session lows. The Aussie is near US 104.75c this morning. And the Japanese yen strengthened from 80.60 yen per US dollar to JPY80.15, before easing in US trade to end the session near JPY80.45. The yen is near JPY80.35 this morning.

Benchmark crude oil prices were mixed on Friday. Investors focussed on the continued debt woes in Europe, positive US economic data and Thursday´s surprise decision by the International Energy Agency to release oil from strategic reserves. Nymex crude oil rose by US14c to US$91.16 a barrel but London Brent crude fell by US$2.14 to US$105.12 a barrel. Over the week Nymex fell by 2.0pct and Brent fell by 7.1pct.

Base metal prices were mixed on the London Metal Exchange on Friday. Copper, lead and nickel rose up to 1.2pct but other metals eased 0.2-0.9pct. Over the week metal prices were mixed. Lead rose 5.5pct with zinc up 3.0pct and nickel up 2.5pct. But aluminium fell 1.8pct with other metals down up to 0.6pct. But the gold price eased in response to a stronger greenback with Comex gold lower by US$19.60 an ounce or 1.3pct to US$1,500.90. Gold fell by US$38.20 or 2.5pct last week.

Ahead: In Australia, no major economic data is scheduled. In the US, data on personal income and spending is issued.

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