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U.S. stock futures pointed to a lower open Wednesday as oil prices dropped, putting the S&P 500 on track to end a two-day advance. Ahead of the opening bell, investors are waiting to get a March reading on existing home sales and earnings reports from Coca-Cola Co. and supermarket operator Supervalu Inc. S&P 500 futures fell 4.95 points, or 0.2%, to 2,088.75, while Dow Jones Industrial Average futures shed 32 points, or 0.2%, to 17,929. Nasdaq-100 futures lost 9 points, or 0.2%, to 4,517.75. The recent rally for riskier assets has “fatigued,” RBC foreign exchange analysts said in a note Wednesday. “Oil led the way after the Kuwait oil workers union decided to cancel their strike, prompting crude to fall ~$1/bbl, with other risk assets following suit.” On Tuesday, the S&P and Dow both closed up 0.3%, leaving the two stock gauges just 1.4% below their all-time highs hit last May.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

European stock markets dropped on Wednesday as oil prices headed lower after Kuwaiti oil workers ended a three-day strike. The Stoxx Europe 600 index dropped 0.5% to 347.68, falling back from a three-month closing high hit on Tuesday. Sentiment was soured by amore than 2% drop in both WTI crude oil and Brent , which weighed on Europe’s energy majors. Shares of BP PLC fell 1.2%, while TGS-NOPEC Geophysical Company ASA dropped 2.7%. On a more upbeat note in Europe, ARM Holdings PLC put on 2.6% after the chip designer said profit rose 7.6% in the first quarter. Heineken NV gained 0.8% after the brewer reported a rise in beer volumes for the first quarter, thanks to strong sales in Vietnam and China.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

European stock markets dropped on Wednesday as oil prices headed lower after Kuwaiti oil workers ended a three-day strike. The Stoxx Europe 600 index dropped 0.5% to 347.68, falling back from a three-month closing high hit on Tuesday. Sentiment was soured by amore than 2% drop in both WTI crude oil and Brent , which weighed on Europe’s energy majors. Shares of BP PLC fell 1.2%, while TGS-NOPEC Geophysical Company ASA dropped 2.7%. On a more upbeat note in Europe, ARM Holdings PLC put on 2.6% after the chip designer said profit rose 7.6% in the first quarter. Heineken NV gained 0.8% after the brewer reported a rise in beer volumes for the first quarter, thanks to strong sales in Vietnam and China.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares in Mitsubishi Motors Corp. fell 15% on Wednesday in Tokyo after it emerged that the Japanese automaker’s cars didn’t pass a fuel economy test and misconduct was a possibility. “One of our models was found to have failed part of a fuel economy test,” a Mitsubishi Motors spokesman said, according to a Reuters report. A Mitsubishi executive was slated to address issues of misconduct related to such testing at a news conference, the report added. Investors are sensitive to news about testing snafus following Volkswagen AG’s emissions scandal that erupted last year. Japanese news outlet NHK said about 600,000 vehicles could be affected, including cars that Mitsubishi makes for rival Nissan Motor Co.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.K. stocks dropped for the first time in three days on Wednesday, with a renewed selloff in oil prices driving a downbeat trading mood. The FTSE 100 index slid 0.5% to 6,376.91, easing back from the highest closing level since Dec. 2 reached on Tuesday. Oil prices were a key driver for the trading action in London on Wednesday, hitting sentiment as WTI and Brent slumped more than 2.5%. Shares of BP PLC shaved off 0.9% and Royal Dutch Shell PLC lost 0.8%. Miners, on the other hand, were among biggest gainers on Wednesday after industry giant BHP Billiton PLC cut its iron-ore production target for the year. On Tuesday, peer mining major Rio Tinto PLC also downgraded its expectations for iron-ore production after reporting a sharp fall in shipments in the first quarter. Less supply in the market is seen as a bullish signal for metals prices and could help the sector shake off years of oversupply and low prices. Shares of BHP climbed 1.6%, while Rio Tinto gained 2.4%. ARM Holdings PLC put on 3.7% after the chip designer said profit rose 7.6% in the first quarter. At 9:30 a.m. London time, or 4:30 a.m. Eastern Time, attention turns to unemployment and wage data for the U.K.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.K. stocks dropped for the first time in three days on Wednesday, with a renewed selloff in oil prices driving a downbeat trading mood. The FTSE 100 index slid 0.5% to 6,376.91, easing back from the highest closing level since Dec. 2 reached on Tuesday. Oil prices were a key driver for the trading action in London on Wednesday, hitting sentiment as WTI and Brent slumped more than 2.5%. Shares of BP PLC shaved off 0.9% and Royal Dutch Shell PLC lost 0.8%. Miners, on the other hand, were among biggest gainers on Wednesday after industry giant BHP Billiton PLC cut its iron-ore production target for the year. On Tuesday, peer mining major Rio Tinto PLC also downgraded its expectations for iron-ore production after reporting a sharp fall in shipments in the first quarter. Less supply in the market is seen as a bullish signal for metals prices and could help the sector shake off years of oversupply and low prices. Shares of BHP climbed 1.6%, while Rio Tinto gained 2.4%. ARM Holdings PLC put on 3.7% after the chip designer said profit rose 7.6% in the first quarter. At 9:30 a.m. London time, or 4:30 a.m. Eastern Time, attention turns to unemployment and wage data for the U.K.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Lexmark International Inc. shares rallied in the extended session Tuesday after the printer and software company agreed to be acquired by Apex Technology Co. and PAG Asia Capital for $3.6 billion in cash. Lexmark shares jumped 13% to $39 after hours. Under the agreement, Apex and PAG will acquire Lexmark for $40.50 a share in cash. The companies expect the deal to close by the second half of 2016.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News