The turmoil in Ukraine could trigger a market correction, says Kenny Polcari. But don't let that scare you. Just pay attention.» Read More
*Citigroup lowers 2013 profit as a result of fraud. *Salesforce.com raises revenue outlook, shares up. NEW YORK, Feb 28- U.S. stock index futures pointed to a slightly lower open on Wall Street Friday, with the S&P 500 coming off a record close and after the U.S. government slashed its estimate for fourth-quarter economic growth.
U.S. stock index futures pointed to a lower open on Friday, ahead of the official second estimate of fourth quarter 2013 economic growth.
*Fourth-quarter GDP growth cut to 2.4 percent rate. WASHINGTON, Feb 28- The U.S. government slashed its estimate for fourth-quarter growth as consumer spending and exports were less robust than initially thought, leaving the economy on a more sustainable path of modest expansion.
*Freeport McMoran says Indonesia unit may have to call force majeure. LONDON, Feb 28- Copper steadied on Friday but looked set to close flat on the month on lingering worries over a slowdown in China, though soothing comments by Federal Reserve Chair Janet Yellen limited losses.
NEW YORK, Feb 28- U.S. fund mangers cut equity weightings in their model global portfolios to the lowest level in four months in February even as the benchmark Standard& Poor's 500 hit new record highs, according to a Reuters poll.
James Bullard, Federal Reserve Bank of St. Louis president & CEO, shares his thoughts on Europe's recession and the Fed's asset buying program. All of the things that we've been worried about over the last couple of years have dissipated, says Bullard.
*Salesforce.com raises revenue outlook, shares up. NEW YORK, Feb 28- U.S. stock index futures dipped on Friday, with investors reluctant to make big bets after the S&P 500 closed at a record and ahead of closely watched data on economic growth.
If the slowdown in the U.S. economy turns out to be more than just weather, St. Louis Fed's Bullard is still unlikely to revise his positive forecast.
James Bullard, Federal Reserve Bank of St. Louis president & CEO, shares his thoughts on the outlook on housing and whether the Fed is like to change its pace of tapering.
James Bullard, Federal Reserve Bank of St. Louis president & CEO, discusses whether this winter's harsh weather impacted recent economic data. The spate of soft data is not enough for me to revise my forecast, says Bullard.
*Euro tops $1.38 for first time this year. LONDON, Feb 28- European stocks reversed course and fell on Friday, and the euro rose to its highest level this year after an unchanged reading of euro zone inflation cooled growing expectations the European Central Bank could ease monetary policy as early as next week.
Steven Ricchiuto, Mizuho Securities chief economist, and Richard Steinberg, Steinberg Global Asset Management president & CIO, share their outlook on the markets. We have a target of 1,930 on the S&P 500 but are taking some profits, says Steinberg.
LONDON, Feb 28- Gold steadied around $1,330 an ounce on Friday and was on track for its biggest monthly gain in seven as persistent concerns about a slowdown in the U.S. economy hurt the dollar.
WASHINGTON-- The Commerce Department issues its second of three estimates of how fast the U.S. economy grew in the October-December quarter. The report will be released at 8:30 a.m. EST. SLOWER GROWTH: The forecast is that growth will be revised lower to an annual rate of 2.5 percent for the fourth quarter, according to a survey by FactSet.
LONDON, Feb 28- Russia's rouble stayed near five-year lows to the dollar on Friday, hit by fears about instability in neighbouring Crimea, but Ukraine's hryvnia rebounded, trading 5-10 percent firmer on hopes of an IMF loan.
*Freeport McMoran says Indonesia unit may have to call force majeure. LONDON, Feb 28- Copper dipped on Friday and looked set to close flat on the month on lingering worries over a slowdown in China though soothing comments by Federal Reserve Chair Janet Yellen limited losses.
The U.S. is set to slash its estimate of fourth-quarter growth as exports and restocking by businesses were less robust than previously thought.
*Man Group rises; Erste, Pearson slip. LONDON, Feb 28- European shares edged higher on Friday, with cyclical stocks boosted by positive company news and expectations that a further drop in euro zone inflation may prompt the European Central Bank to ease policy.
LONDON, Feb 28- European stocks rose on Friday, supported by expectations a low reading of euro zone inflation later in the day will force the European Central Bank to ease monetary policy further and a record high close on Wall Street the previous session.
TOKYO, Feb 28- Asian stocks edged up in late trading after a volatile session on Friday, as investors weighed unrest in Ukraine against Federal Reserve Chairwoman Janet Yellen expressing confidence in the strength of the U.S. economy.