Any buyers before the weekend? (23-05-2008)

After managing a gain in Thursday’s trading session futures were pointing to a lower open on Friday as the existing home sales report and the three-day holiday weekend loom. 

Meanwhile Asian stocks were mixed on Friday as exporters and the yen helped Japanese shares recover earlier losses and declines in the commodity sector pushed the Australian market down.

With crude oil prices resuming their rally, inflation concerns returned and European stock markets were under pressure as a result and were further hurt after reports that the euro zone services sector growth pulled back much more than expected in May on both the strength of the euro and an unprecedented oil prices rally, which eroded corporate margins.

  Source ISFM