The dollar weakened after the announcement of the data showing the US economy growth was slower than the expectations. This data expanded gains of euro and gold climbed. The US index futures contracts followed stocks from Sydney to Paris, following hours on tech
stocks, depending on growing concerns about corporate profits.
The S & P index futures fell after the profit disclosures of Amazon.com which is lower than the estimations. The stock ticker in Europe turned to the lowest level in three months as ASML Holding NV boosted the decline in technology stocks. The carmakers also fell sharply after Renault SA explained that price pressures were increasing at some markets. Economic confidence in the euro zone has helped the euro reach the highest level in 20 years, while European state treasuries have moved downward.
Sales of technological stocks started just after US stocks reached record levels with signs of global economic growth and S & P 500 companies’ profit disclosures exceeding expectations of more than three quarters. The companies in the technology market achieved the best performance of 11 groups in the S & P 500, earning 22 percent this year.
The MSCI Asia Pacific Index fell 0.7 percent, giving back earnings of the week. The tech stocks on the display fell by 1.5 percent. The Stoxx Europe 600 Index fell 1 percent at 13:35 London time and fell to its lowest level of almost 14 weeks. The S & P 500 index futures dropped 0.3% and had the biggest loss was almost three weeks.
Bloomberg Dollar Spot Index was down 0.4 percent. The euro gained 0.6% against the dollar and rose to 1.1745. The euro was not that strong against the dollar, which is over two years old. Pound gained 0.3% and came in at 1.3102. The yen was up against the dollar by 0.3%, trading at 111.90.
10-year Treasury yields fell by one base point to 2.30 percent. West Texas Oil (WTI) rose 0.1 percent and reached its eight-week high on its fifth weekly rise. Gold price climbed 0.5 percent and climbed to 1,265.54 ounces per ounce, the strongest level in six weeks.