(By Balachander) U.S. stocks closed in red as weak domestic sales data and persisting worries over Europe's finances dented sentiment.
S&P 500 Index shed 0.70 percent to end at 1,314.88. The Dow Jones Industrial Average dropped 0.62 percent to finish at 12,496.38. The Nasdaq Composite Index lost 0.86 percent to close at 2,818.61.
On the US economic front, the Commerce Department reported retail sales dropped for the second straight month to 0.2 percent in May. April retail sales were revised down into negative territory to a 0.2 percent fall from 0.1 percent rise. Meanwhile, the U.S. Labor Department said core producer price index in May rose 0.2 percent, while the headline index declined 1.0 percent.
In European news, eurozone industrial production declined 0.8 percent in April following a 0.1 percent fall in March, according to a report from Eurostat. Borrowing costs in Spain and Italy climbed to more than 6.7 percent and 6.2 percent, respectively, raising contagion concerns. Attention also shifted to second round of elections in Greece on Sunday.
Hot Stocks Of The Day: DELL, JPM, SMG, REGN, CASY, DDD, CTCT, KITD
Dell Inc. (NASDAQ: DELL) added 2.55 percent after the Round Rock, Texas-based personal-computer maker announced it will start paying dividends from its third quarter.
JPMorgan Chase & Co. (NYSE:JPM) rose 1.57 percent after Chief Executive Officer Jamie Dimon testified to the Senate about the bank's $2 billion trading loss.
Scotts Miracle-Go (NYSE:SMG) tumbled 6.60 percent after the Marysville, Ohio-based maker of lawn and garden care products warned of shortfall in 2012 earnings and sales, citing slowing consumer demand.
Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) plunged 12.49 percent after privately-held Ophthotech Corp. reported clinical trial results for an eye drug, showing superior efficacy over Regeneron's Eylea drug.
Casey's General Stores Inc. (NASDAQ:CASY) dived 12.90 percent after the operator of convenience stores based in Ankeny, Iowa posted fourth-quarter earnings that missed market expectations.
3D Systems Corp. (NYSE:DDD) retreated 7.70 percent after the provider of three-dimensional (3D) printers said it is offering to sell shares in an underwritten public offering of roughly $100 million.
Endeavour International Corp. (NYSE:END) declined 1.94 percent after the Houston, Texas-based oil and gas explorer announced an offer public offering of shares to fund its current development operations.
Constant Contact Inc. (NASDAQ:CTCT) tumbled 14.86 percent. The online marketing company said it has acquired SinglePlatform, a New York-based startup that helps small businesses get found online, for $70 million plus potential earn-out. The company reduced 2012 EBITDA forecast to reflect the transaction-related costs.
KIT digital Inc. (NASDAQ:KITD) soared 18.69 percent after the provider of online-video technology said it is discussions with several parties for a possible sale of the company.
European markets ended mixed, with Germany's DAX dipping 0.14 percent to close at 6,152.49. France's CAC40 fell 0.55 percent to finish at 3,030.04. The U.K. FTSE 100 rose 0.18 percent to end at 5,483.81.
Among Asian markets, the Shanghai Composite Index gained 1.30 percent to end at 2,319.58. Hong Kong's Hang Seng rose 0.82 percent to close at 10,026.52. Japan's Nikkei 225 advanced 0.60 percent to close at 8,587.84. India's BSE Sensex finished at 16,880.51, up 0.11 percent.
Commodity & Currency Scan:
Crude oil futures dropped 1.10 percent to $82.400 per barrel and natural gas futures lost 1.52 percent to $2.198 per million metric British thermal units. Gold futures added 0.29 percent to $1,618.5 per ounce, while silver futures declined 0.50 percent to $28.805 per ounce.
In the currency market, the euro gained 0.58 percent against the U.S. dollar to $1.2576. The British pound fell 0.35 percent against the greenback to 1.5517, and the dollar shed 0.21 percent against the Japanese yen to 79.3600.