U.S.
stock-index futures declined, signaling equities will slide for a third
day, as Greece and its creditors failed to break an impasse in debt
negotiations.
Standard
& Poor’s 500 Index E-mini contracts expiring in September slid 0.4
percent to 2,067.5 at 9:56 a.m. in London. Dow Jones Industrial Average
futures retreated 68 points, or 0.4 percent, to 17,644.
The
S&P 500 on Monday slipped below its average price during the past
100 days after weekend talks between Greece and its creditors broke up
acrimoniously. Disappointing factory data increased investor uncertainty
as to whether the economic recovery is strong enough to withstand a
rate increase. A report on housing today may offer further clues, with
economists forecasting weaker data for May.
The
Federal Reserve begins a two-day meeting today, at which officials are
expected to leave interest rates unchanged. The probability for a
September increase has risen to 53 percent since the central bank’s last
session, data compiled by Bloomberg show.
Investors
are looking for any signs of progress in Greece’s debt talks after the
Mediterranean nation signaled it won’t make further concessions to
unlock bailout funds needed to avoid default. Finance Minister Yanis
Varoufakis told Germany’s Bild newspaper any new proposals would need to
be worked out at a lower level before they could be presented to the
finance ministers’ meeting later this week.
Source : Bloomberg
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