Asian stocks fell for a second day, paring this week's gain, as sales at Samsung Electronics Co. missed analysts' estimates and interest-rate cuts in Europe and China failed to boost confidence in the global economy. The MSCI Asia-Pacific (MXAP) slid 0.5 percent to 118.44 as of 6:57 p.m. in Tokyo. About five shares fell for every three that rose, with technology shares exerting the biggest drag on the index. The measure gained 1.1 percent this week.
U.S. stock-index futures were little changed as investors awaited a monthly payroll report for clues about the job-market recovery in the world's largest economy. Standard & Poor's 500 Index futures expiring in September slipped 0.2 percent to 1,358.9 at 10:31 a.m. in London. The equity benchmark is heading for a 0.4 percent gain this week. Dow Jones Industrial Average futures retreated 21 points, or 0.2 percent, to 12,811 today.
European stocks declined for a third day before reports on U.S. jobs and German industrial output. U.S. futures were little changed, while Asian shares fell. The Stoxx Europe 600 Index (SXXP) lost 0.3 percent to 256.26 at 10:22 a.m. in London. The equity benchmark is still headed for a 2 percent advance this week, its fifth straight week of gains, which would be its longest winning streak since January. The gauge has climbed 9.6 percent from this year's low on June 4 amid speculation that central banks would ease monetary policy.
Treasuries rose for a second day before a report forecast to show the U.S. economy is struggling to reduce unemployment, after an unexpected slowdown in hiring in data released last month sent yields to a record low. The benchmark 10-year yield declined two basis points, or 0.02 percentage point, to 1.58 percent. The 1.75 percent note due in May 2022 advanced 6/32, or $1.88 per $1,000 face amount, to 101 18/32. Yields dropped seven basis points this week, the most since the period ending June 1.
The dollar was steady at about 102.8 US cents. At the current level, though, the dollar will clock up its fourth consecutive advance against the greenback. The Australian dollar is on course to cap another week of gains against major international peers as the country's relatively high interest rates lure investors. The dollar was also buying 82 yen and 66.2 pence in recent trading.
The euro headed for its biggest weekly decline against the dollar in more than six months amid concern that Europe's economy is tumbling into a recession. The 17-nation euro fell about 0.1 percent to $1.2386 as of 9:09 a.m. London time, leaving it 2.2 percent lower in the week, the largest decline since Dec. 16. The currency declined almost 0.1 percent to 98.97 yen, headed for a 2.1 percent weekly slide. The greenback was little changed at 79.90 yen.
Oil fell a second day in New York, paring a weekly gain, as the IMF warned it will trim growth forecasts while interest-rate cuts in Europe and China failed to assure investors the moves will be enough to support demand. Oil delivery fell as much as $1.35 to $85.62 a barrel in electronic trading on the New York Mercantile Exchange and was at $85.70 at 11:04 a.m. London time. Prices have risen 0.9 percent this week and are heading for a second weekly gain, the first back-to-back increase since April. Crude is down 13 percent this year.
Gold remained on track for a second straight week of gains on Friday, though it was little changed from the day before as investors waited for more U.S. jobs data to help gauge the health of the world's top economy and provide trading cues. Spot gold was little changed at $1,605.19 an ounce by 0313 GMT on Friday, on course for a weekly rise of 0.4 percent.
The U.S. gold futures contract for August delivery edged down 0.2 percent to $1,605.90.
Silver prices declined by Rs 117 to Rs 53,557 per kg in futures trade today after speculators reduced their positions amid slackened demand at prevailing levels in the spot market. At the Multi Commodity Exchange, silver for delivery in September declined by Rs 117, or 0.22 per cent, to Rs 53,557 per kg, with a business turnover of 6,818 lots.. Silver, the poor man's gold, to average $38 an ounce in the fourth quarter this year and to average $42/oz in 2013, said Deutsche Bank, the largest bank in Germany, in a quarterly commodities research note
Copper fell on Friday as the euro stayed weak ahead of job data from the Unites States and as investors feared that interstate cuts in top metal consumer China this week suggested its economy was slowing severely. Benchmark copper on the London Metal Exchange edged down 0.7 percent to $7,640 per ton by 0941 GMT, from $7,695 at the close on Thursday. The most-active October copper contract on the Shanghai Futures Exchange edged up 0.1 percent to 56,030 Yuan ($8,800) per metric ton, on track to post a 1.9 percent rise on the week.
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