Stocks Fall as Nasdaq Tumbles

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U.S. stocks tumbled, with the Nasdaq Composite Index falling the most in two months, as investors continued a selloff of the bull market™s biggest winners. Treasuries rallied as jobs data boosted speculation the Federal Reserve will remain accommodative on rates.

The Nasdaq Composite dropped 2.6 percent at 4 p.m. in New York as technology shares slumped. The Standard & Poor™s 500 Index fell 1.3 percent after rallying as much as 0.5 percent to a record earlier in the day. The yield on five-year Treasury notes dropped nine basis points, the most in two months, to 1.70 percent. The Stoxx Europe 600 Index rose 0.6 percent, advancing for a ninth day. The dollar slid for the first time in seven days against the yen. Gold jumped 1.5 percent.

The S&P 500 erased gains after climbing to a record 1,897.28 earlier in the day. The gauge trimmed its advance for the week to 0.4 percent, and is up 0.9 percent for the year. The gauge trades at 17.2 times reported earnings, the highest level since 2010, according to data compiled by Bloomberg.

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Europe Stocks Rise to Highest Since ’08 on Holcim, Lafarge Talks

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European stocks rose to a six-year high as Holcim Ltd. and Lafarge SA rallied and a U.S. report showed that the world™s biggest economy created more jobs in February than initially estimated.

Holcim jumped 6.9 percent after saying it has held advanced merger discussions with Lafarge, which surged 8.9 percent. Remy Cointreau SA increased 3.6 percent following a report that Brown-Forman Corp. has considered a purchase of the cognac maker. EasyJet Plc rose 2 percent after the low-cost airline said more passengers took its flights last month.

The Stoxx Europe 600 Index added 0.6 percent to 339.18 at the close, its highest level since January 2008. The benchmark has advanced 4.6 percent since March 24 as improving U.S. economic data signaled that the world™s largest economy is recovering from the harsh winter. European equities have climbed 1.6 percent this week.

The Labor Department report showed that U.S. employers hired a net 192,000 people in March, fewer than the median economist estimate of 200,000 in a Bloomberg News survey. The government revised up the number of new hires in February to 197,000 from 175,000, showing that the bad winter had less of an impact on the jobs market than previously predicted. The release also showed that the unemployment rate stayed at 6.7 percent last month.

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U.S. Stocks Drop From Record as Tech, Consumer Shares Retreat

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U.S. stocks fell, as technology and consumer shares sank, after benchmark indexes had climbed to records on a government report showing employers added to payrolls last month.

The S&P 500 lost 0.3 percent to 1,882.44 at 12 p.m. in New York. The gauge rose as much as 0.5 percent to an all-time high. The Dow Jones Industrial Average fell 18.14 points, or 0.1 percent, to 16,554.41, after earlier topping its closing record. The Nasdaq Composite Index sank 1.7 percent, the most in two months. Trading in S&P 500 stocks was 15 percent above the 30-day average at this time of day.

Seven of the 10 main S&P 500 groups fell today, with technology stocks sinking 1.6 percent to pace declines. Google Inc. Class C shares slid 3.5 percent to $550.05 to lead a gauge of software stocks lower.

Source : Bloomberg

S&P 500 Futures Rise With Treasuries on Jobs as Commodities Gain

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S&P 500 Index futures and European stocks gained after U.S. employers increased payrolls in March. Commodities rose and Treasuries advanced.

S&P 500 futures added 0.4 percent at 9 a.m. in New York. The Stoxx Europe 600 Index rose 0.4 percent, advancing for a ninth day. The yield on 10-year Treasuries dropped four basis points to 2.76 percent. Yields on Spanish, Italian and Irish securities declined to all-time lows and the average yield on junk-rated corporate bonds dropped to a record. Copper jumped 0.6 percent and West Texas Intermediate oil climbed 0.8 percent.

Employers hired more workers last month and the unemployment rate held at 6.7 percent, Labor Department figures showed today. Europe™s central bank signaled yesterday it may use quantitative easing to ward off deflation. The value of global stocks rose to a record $63.2 trillion this week as a private report showed U.S. companies added jobs while Federal Reserve Chair Janet Yellen said accommodative policies will be needed for œsome time.

The S&P 500 slipped 0.1 percent from a record yesterday. It™s gained 1.7 percent this week, the most in almost two months.

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U.S. Stock-Index Futures Gain as Investors Await Payrolls Report

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U.S. stock-index futures advanced, with the Standard & Poor™s 500 Index hovering near a record, as investors await payrolls data that may show employers added jobs at a faster pace last month.

Desarrolladora Homex SAB soared 17 percent in late New York trading after the Mexican homebuilder said it is in loan talks with billionaire Sam Zell. Genco Shipping & Trading Ltd. fell 5.2 percent in early trading after the operator of dry-bulk cargo ships reached a pact with lenders for a Chapter 11 bankruptcy reorganization.

Futures on the S&P 500 expiring in June gained 0.2 percent to 1,886.5 at 10:46 a.m. in London. The equity benchmark gauge climbed 1.7 percent this week, the most in almost two months, and reached a record on April 2. Dow Jones Industrial Average contracts added 25 points, or 0.2 percent, to 16,526 today.

Employers picked up the pace of hiring in March for a third month, economists project a report will show at 8:30 a.m. in Washington. Payrolls rose by 200,000 after a 175,000 gain in February. The jobless rate probably fell to 6.6 percent from 6.7 percent, the forecasts show.

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