Tuesday, 2 June 2015

Futures lower as Greece uncertainty weighs

U.S. stock index futures were slightly lower on Tuesday, tracking European markets, as uncertainty lingered regarding the outcome of Greece's negotiations with creditors.
* Greece must repay four loans totaling 1.6 billion euros ($1.8 billion) to the International Monetary Fund this month, starting with a 300 million euro payment on June 5.

* The leaders of Germany, France and Greece's international creditors agreed late on Monday to work with "real intensity" as they try to reach a deal that would prevent Athens from defaulting and potentially leaving the euro zone. [ID:nL5N0YN3O]

* Adding pressure to stock futures, the dollar .DXY hit a 12 1/2-year high against the yen in Asian trade before pulling back to trade down against the Japanese currency and the euro.

* Investors will also keep a keen eye on a slew of U.S. economic data due this week for clues regarding the timing of the Federal Reserve's first rate hike in nearly a decade.

* Data due on Tuesday include April factory orders at 10:00 a.m. ET (1400 GMT). Demand for U.S. manufactured goods is likely to be flat after a strong showing in March.

* The U.S. auto industry will report industry sales for May and analysts expect demand to be flat or down slightly from last year. That data is expected at 1:30 p.m. ET.

* Plug Power (PLUG.O) jumped 8.9 percent to $2.92 in premarket trading after the fuel cell maker announced an expansion of a contract with Walmart Canada.

* Youku Tudou's (YOKU.N) shares were up 4.9 percent at $28.99 after the company and Disney (DIS.N) formed a Marvel online movie marketing partnership. Disney was unchanged from its closing price of $110.96.

No comments:

Post a Comment