Greek Deal Failure May Depress Dow
LONDON -- Futures for the Dow Jones Industrial Average (INDEX: ^DJI) , S&P 500, and Nasdaq indexes were all suggesting a fall of about 0.5% in opening trade this morning.
Ongoing concerns remain over the situation in Greece, where politicians have so far failed to agree on a coalition deal. At home, the latest figures for job openings could also cause concern.
Among individual stocks, Citigroup and Bank of America (NYS: BAC) are active ahead of the bell as European banks lost further ground. Elsewhere, Electronic Arts might drop in early trade following disappointing results.
Across the Atlantic, the U.K.'s FTSE 100 (INDEX: ^FTSE) started the day relatively quietly, with the index dropping slightly, thanks to ongoing falls in large mining stocks. There was no repeat of yesterday's Greece-related volatility, but concerns are still evident, with most European markets trading lower through the morning.
News of a 2.8% increase in industrial production was not enough to stop Germany's DAX index from losing about 1% in morning trading, while France's blue-chip CAC 40 index lost nearly 2%, making it the day's worst European performer. There was some relief for Spanish markets, however, as news filtered out that a further bailout for some of Spain's most troubled banks could be in the cards.
In U.K. trading, insurance giant Aviva was lifted following news that its CEO had resigned, while Tesco (OTC: TSCDY) (ISE: TSCO.L) and Vodafone (NAS: VOD) both rose on as investors sought "safe havens." Indeed, one of these famous British blue chips might be the company that recently inspired billionaire Warren Buffett to invest more than $1 billion. And you can discover the name of the company and the price he paid in this latest free report.
In earnings news, Walt Disney is due to release quarterly earnings after the close tonight. The stock was lifted yesterday thanks to recent box-office successes, and investors are expecting that progress to be reflected in the latest figures. Satellite television provider DIRECTV will release its figures before the market opens, as will Molson Coors Brewing.
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