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  • Let's take a look at the global market highlights and news for March 28th 2014.

  • Markets give up year to date gains Citigroup tumbles as Feds reject bank plans

  • The New Zealand dollar continues to climb As the

  • month comes to a close and winter is over traders are expecting big things for the US

  • markets. Wall Street moved between gains and losses in choppy trading Thursday, while the

  • Nasdaq Composite Index extended recent declines to near-two-month lows.

  • U.S. stocks fell erasing most of the S&P 500's year-to-date gain, as banking and technology

  • stocks led the selloff. The benchmark S&P 500 turned nearly flat for the first after

  • falling almost 1 percent this week as many of the market's biggest trading favorites

  • lost their momentum. The Dow Jones dipped 4.76 points or 0.03 percent, to end at 16-2-64.23.

  • The S&P 500 lost 3.52 points to close at 18-49.04. The NASDAQ dropped 22.3-46 points to finish

  • at 41-51.2-32. At the close, the S&P 500 was up just a fraction of a point for the year.

  • Citigroup tumbled 5.4 percent to $47.45 a day after the Fed rejected the bank's plan

  • to buy back $6.4 billion in shares and boost dividends, saying that Citi wasn't sufficiently

  • prepared to handle a potential financial crisis. A source close to the matter told Reuters

  • that Citi officials had not expected the rejection. Big tech names also dropped, including Google

  • off 1.6 percent at $11-14.28, Microsoft was down 1.1 percent at $39.36, and Amazon was

  • down 1.4 percent at $3-38.47. Twitter's market value continues to disappear.

  • Simply put, it seems that investors have come to the realization that the company may not

  • be the next Facebook or Google after all. Even though it seems like you can't turn on

  • the television or go online without some promotional hashtag hitting you in the face #March Madness.

  • Facebook has more than 1.2 billion active monthly users. And that doesn't include Instagram

  • or any new users it may acquire when the WhatsApp purchase is complete. Twitter has "only" 241

  • million active monthly users. Google+ has more than twice as many as Twitter with 540

  • million. The Stoxx Europe 600 edged up 0.1%, adding

  • to a 2% rise in the previous two sessions. Asian markets were mixed, with China's Shanghai

  • Composite losing 0.8%, while Japan's Nikkei Stock Average rose 1%.

  • In the foreign exchange market Economic data was mixed. Pending home sales for February

  • fell for an eighth-straight month versus expectations of a slight increase. Meanwhile, weekly jobless

  • claims declined to a four-month low, while economists forecast a slight rise. And fourth-quarter

  • gross domestic product growth was raised to 2.6% from a previous estimate of 2.4%, just

  • missing expectations of 2.7%. The euro struggled near a three-week low against

  • the dollar on Friday, weighed by recent dovish talk from several European Central Bank (ECB)

  • officials. The New Zealand dollar continued its bull run, hitting a 2-1/2-year high against

  • the greenback and a six-year peak versus the yen. The euro last traded at $1.37-44, having

  • touched three-week lows of $1.37-28 overnight, on track to end lower for a second straight

  • week. Against the yen, the common currency stood at 1-40.41 yen after slipping to three-week

  • lows of 1-40.19.

  • In the commodity space gold trimmed a second weekly loss as investors weighed speculation

  • a drop below $13 hundred an ounce will spur demand against signs of a U.S. recovery, which

  • may add to the case for tapering. Platinum and palladium advanced.

  • Crude oil headed for a second weekly advance amid shrinking stockpiles at the U.S. oil

  • storage hub in Cushing, Oklahoma, and concern the crisis in Ukraine threatens supplies from

  • Russia. The contract gained $1.02 to $101.28 yesterday.

  • This is Amy Anderson from OptionRally signing off. And of course I'm waiting for your LIKE

  • below if you enjoyed today's Market Watch. Have a great weekend

Let's take a look at the global market highlights and news for March 28th 2014.

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B1 percent yen market weekly month week

News finance today 28/3/14

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    richardwang posted on 2014/03/31
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