Market News

March 12, 2013  Tue 7:03 AM CT

U.S. equity index futures are indicating a lower open this morning, threatening to break a seven-day winning streak by the S&P 500.

Futures on the S&P 500 and the Nasdaq 100 are down about 0.2 percent as investors may be ready to take a breather from rallies that have reached multi-year highs, with no major economic reports scheduled today. The CBOE Volatility Index, which typically moves inversely to the SPX, fell more than 8 percent yesterday 11.56--its lowest close since February 2007.  

China led Asian bourses lower overnight after the country launched a probe a investment products, helping to drive down the Shanghai Composite by 1.04 percent and Hong Kong's Hang Seng by 0.87 percent. Japan's Nikkei fell 0.28 percent even as the yen continued its decline.

European indexes are mixed but mostly flat so far. Germany's DAX and France's CAC 40 off fractionally as of this writing. The U.K. FTSE 100 higher, but by less than 0.1 percent.

Precious metals are stronger today, with gold and silver both up nearly 1 percent. Copper is also slightly higher. Other commodities are little-changed, including oil and natural gas.

In company-specific news, VodaFone is up sharply in pre-market trading after the company announced last night that its CEO is stepping down. Yum Brands is also trading higher after same-store sales beat quarterly forecasts. BlackBerry is up modestly amid deal rumors and the pending introduction of its new handsets.
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