NEW YORK - Global equity markets and bond yields both fell on Friday, as data showed the U.S. economy contracted in the first quarter and as investors were unnerved by mixed signals from Greece's debt talks.
- U.S. stocks closed lower on Friday as data showed the economy contracted in the first quarter but indexes still posted gains for the month.
WASHINGTON - The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly. | Video
DRESDEN, Germany - The United States warned on Friday of a possible accident for the world economy if Greece and its creditors miss their June deadlines to avert a debt default.
NEW YORK - Shares of U.S. automakers may finally be able to accelerate.
- Argentina urged a U.S. judge on Friday to not expand by another $5.4 billion the amount it must pay holders of defaulted debt before it can pay the majority of its creditors who participated in two rounds of sovereign restructurings.
LONDON, May 29 - European shares were little changed at the open on Friday, keeping within their recent range, as investors awaited developments in Greek debt talks amid mixed signals from the parties involved.
* Indexes down: Dow 0.6 pct, S&P 0.6 pct, Nasdaq 0.6 pct (Updates to close)
* Associated British Foods gains on rating hike (Adds detail, updates closing prices)
TOKYO, May 29 - Japan's Nikkei share average rose for an eleventh day on Friday on hopes for better shareholder returns, but gains were limited as investors stayed cautious against imminent profit-taking. The Nikkei average ended 0.1 percent higher to 20,563.15 points, hitting another 15-year closing high. The 11-day winning streak is the longest since February 1988. For the week, it gained 1.5 percent, and for the month, it rose 5.3 percent, the fifth straight month of gains.
HONG KONG, May 29 - Hong Kong stocks dipped on Friday, with investors staying cautious after the previous session's slide triggered by a tumble in mainland markets.