Nikkei Futures Drop as Kiwi Holds Advance; Platinum Gains

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Japanese index futures fell while contracts on the Standard & Poor™s 500 Index climbed after financial and technology companies drove a second day of declines in U.S. stocks. Platinum and palladium rebounded as New Zealand™s dollar held gains near a 2 1/2-year high.

Futures on Japan™s Nikkei 225 Stock Average dropped 0.5 percent to 14,560 by 8:05 a.m. in the Osaka pre-market, after rising in Chicago. S&P 500 futures added 0.2 percent after the U.S. gauge fell 0.2 percent to a two-week low in New York. Platinum rose for the first day this week while palladium snapped a three-day retreat. The kiwi was steady after touching the strongest level since August 2011 yesterday and forward contracts on the South Korean won climbed a third day.

Asian stocks are headed for their best week since September, rising 2.5 percent as investors brushed aside disappointing economic data to focus on gains in U.S. consumer confidence and speculation China will act to steady its economy. Japanese inflation matched economists™ estimates in February and the jobless rate dropped with retail trade data also due today. In the U.S., jobless claims unexpectedly fell and economic growth came in slower than economists projected.

Copy Source: Bloomberg

U.S. Stock Decline as Financial, Technology Shares Lead Drop

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U.S. stocks fell for the fourth time in five days, led by banks and technology companies, as investors resumed a rotation out of the bull market™s biggest winners.

Citigroup Inc. dropped the most since 2012 after its capital plan failed Federal Reserve stress tests. Accenture Plc fell 5 percent after saying it anticipates a continued œchallenging environment for its business. GameStop Corp. lost 4 percent after its earnings forecast trailed analysts™ estimates. Baxter International Inc. jumped 3.9 percent after announcing plans to split into two companies. Alcoa Inc. rallied 6.2 percent.

The Standard & Poor™s 500 Index declined 0.2 percent to 1,849.04 at 4 p.m. in New York, trimming a loss of as much as 0.6 percent. The Dow Jones Industrial Average fell 5.43 points, or less than 0.1 percent, to 16,263.56. The Nasdaq Composite Index sank 0.5 percent to the lowest since Feb. 10.

The Chicago Board Options Exchange Volatility Index, a gauge for U.S. stock volatility also known as VIX, slid 2.6 percent to 14.54.

Copy Source: Bloomberg

European Stocks Little Changed After Two-Day Rally; H&M Declines

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European stocks were little changed, after a two-day rally, as retailers fell, while food and beverage companies climbed.

Hennes & Mauritz AB lost 4.3 percent after reporting quarterly profit that missed analysts™ estimates. Babcock International Group Plc posted the biggest drop in four years after agreeing to buy private equity-owned Avincis Group. United Internet AG added 5 percent after saying that earnings jumped 25 percent last year. Marine Harvest ASA rose 2.4 percent after the salmon farmer agreed to sell U.K. farming assets to Cooke Aquaculture Inc.

The Stoxx Europe 600 Index gained 0.1 percent to 331.4 at the close of trading in London, after jumping 2 percent in the past two days. The gauge is down 2 percent this month, its biggest decline since June, amid tension between Russia and the West over Ukraine.

The U.S. and the European Union have imposed financial sanctions on Russian and Ukrainian officials as well associates of President Vladimir Putin, leaving open the threat of broader measures targeting Russia™s energy and financial sectors.

Copy Source : Bloomberg

U.S. Stocks Decline as Financial, Technology Shares Lead Drop

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Banks and technology companies led U.S. stocks lower for the fourth time in five days, as a midmorning recovery fizzled and investors resumed a rotation out of the bull market™s biggest winners.

Citigroup Inc. dropped the most since 2012 after its capital plan failed Federal Reserve stress tests. Accenture Plc. fell 6.8 percent after saying it anticipates a continued œchallenging environment for its business. GameStop Corp. lost 6.8 percent after its earnings forecast trailed analysts™ estimates. Baxter International Inc. jumped 5.5 percent after saying it will split into two companies.

The Standard & Poor™s 500 Index declined 0.3 percent to 1,847.40 at 12:18 p.m. in New York, after rising as much as 0.2 percent earlier. The Dow Jones Industrial Average slipped 13.91 points, or 0.1 percent, to 16,255.08. The Nasdaq Composite Index sank 0.6 percent.

The Chicago Board Options Exchange Volatility Index, a gauge for U.S. stock volatility also known as VIX, rose 3.6 percent to 15.46. Trading in S&P 500 stocks was 27 percent above the 30-day average during this time of the day.

Copy Source: Bloomberg         

U.S. Stocks Drop as Investors Sell Drugmaker Shares

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U.S. stocks fell, extending a decline from the last hour of yesterday™s session, as investors sold health-care stocks that have led gains in the last year, Internet companies retreated and Citigroup Inc. fell 5 percent.

The Nasdaq Composite Index slipped 1 percent, extending a decline that began on March 19 to 4.6 percent. The S&P 500 dropped 0.5 percent to 1,843.55 at 9:44 a.m. in New York. The slide erased the gauge™s gain for the year.

The S&P 500 yesterday slid 0.7 percent after President Barack Obama warned that the crisis in Ukraine may escalate. Losses extended in the last hour as investors sold companies that have led the bull market.

Gauges of technology stocks, drugmakers, and consumer and industrial companies all fell 0.7 percent in the final 60 minutes of trading yesterday. About half of the day™s 6.5 percent gain in the Chicago Board Options Exchange Volatility Index occurred during the period, data compiled by Bloomberg show.

Investors continued to sell riskier assets, as gauges of Internet and biotechnology shares sank. The S&P 500 closed at its session low, erasing nine points in the final hour.

Source : Bloomberg