U.S.
stock index futures were little changed, with the Standard & Poor
500 Index poised for its biggest weekly decline in a month, as investors
awaited earnings results from JPMorgan Chase & Co. and Wells Fargo
& Co.
Ford
Motor Co. climbed 1 percent in early New York trading after data showed
China auto sales rose in March and Deutsche Bank AG recommended
investors buy shares of the carmaker. Zynga Inc. added 1.2 percent after
hiring a Best Buy Co. executive as chief financial officer. Corning
Inc. lost 1 percent after UBS AG lowered its rating on the maker of
glass for televisions and mobile devices.
S&P
500 futures expiring in June gained less than 0.1 percent to 1,827.3 at
10:43 a.m. in London. The gauge has fallen 1.7 percent this week, with
technology shares slumping, as investors continued selling the biggest
winners in the five-year U.S. bull market. Dow Jones Industrial Average
contracts lost 6 points, or less than 0.1 percent, to 16,104 today.
The
S&P 500 declined 2.1 percent yesterday, the most since Feb. 3, with
the Nasdaq Composite Index slumping 3.1 percent, its biggest decline
since November 2011. The technology selloff resumed on growing concern
that valuations may be too high. The S&P 500 has fallen 3.1 percent
from its record this month. It closed at its lowest level since Feb. 19
yesterday.
Copy Source: Bloomberg
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