Markets Trade on a Volatile Note

The Global Markets gives out mixed clues this morning. U.S. stock futures declined, indicating the Standard & Poor’s 500 Index may erase today’s gain, after Cisco Systems Inc. projected sales and profit that fell short of analysts’ estimates. European stocks fell the most in two weeks amid renewed concern that the regions weakest economies will struggle to reduce their deficits and as companies from UniCredit SpA to Natixis SA had worse-than-estimated earnings. This morning Asian stocks climbed, with the regional benchmark index increasing for the first day in three, as Japanese banks rose on a brokerage upgrade and BHP Billiton Ltd. edged higher on speculation it may bid for a stake in Woodside Petroleum Ltd. In commodities, Oil gained for a second day in New York after a government report showed an unexpected decline in U.S. crude inventories as imports fell and refineries bolstered operating rates. Gold futures fell the most in a week as the dollar rebounded, eroding the metals appeal as an alternative asset. Silver had the biggest drop since December 2008. Copper jumped to its highest ever after Chinas inflation reached two-year high, prompting investors to seek commodities as a hedge against accelerating consumer prices. The Indian markets trade on a volatile note this morning. The Consumer Durables index trade gaining more than one percentage points. Market breadth is positive with 1,714 advances against 763 declines. The Sensex trades in red at 20,858.82 declining 16.89 points or 0.08 percentage points. Nifty trades at 6273.40 declining by 2.30 points or 0.04 percentage points.