Benzinga's Market Primer-Friday, August 17

US stock markets are trading either side of unchanged in listless early morning trading. Stock index futures are pointed to a mixed opening on Wall Street as of 7AM, with futures for the S&P 500 down 0.08 percent to1412.20, Dow Jones futures are up 0.05 percent to 13223 and NASDAQ 100 futures are up 0.17 percent to 2768.2.

strong>News Around the World

Asia/Pacific Rim Markets

Chinese stock markets were up slightly, buoyed by U.S. housing data. The Shangai Index had seven up stocks to every 5 down stocks. On the week the Shanghai Index lost 2.5 percent. The Hang Seng closed up three-quarters of a percent, in quite Friday trading. The Nikkei 225 Index advanced for the second consecutive week on the heels of U.S. housing permits which reached a four year high. German Chancellor Angela Merkel reiterated her commitment to working with the Euro Central banks. The comments help lift share prices in Tokyo.

European stock markets have advanced to five-month highs amid optimistic comments made by Angela Merkel. The German Chancellor renewed her support of ECB's insistence to reduce borrowing costs to indebted countries. The European exports rose to a seasonally adjusted 2.4 percent in June. Europe's economy contracted 0.2 percent in the second quarter as tougher austerity measures pushed at least six member states including Italy and Spain into recession. In the UK, The FTSE 100 was trading higher by 20 points due to Germany's comments.