U.S. stock index futures fell today as uncertainty lingered regarding the outcome of Greece's negotiations with creditors and ahead of key U.S. jobs data and concerns about the strong dollar.
Futures for the Dow Jones Industrial Average lost 29 points to 18,018, while those for the S&P 500 index gave up 0.3 percent to 2,104. Futures for the Nasdaq 100 index fell 8.25 points to 4,513.
Greece faces a debt repayment to the IMF on Friday. While the country claims it can make the payment, it’s the smallest of four totaling almost 1.6 billion euros ($1.75 billion) this month.
The dollar 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. The central bank has indicated that any increase in borrowing costs would be shallow and gradual. Economists forecast the Fed will raise rates in September.
Yesterday, the Dow Jones Industrial Average rose 0.2 percent to 18040.37. The S&P 500 added 0.2 percent to 2111.73, and the Nasdaq Composite climbed 0.3 percent to 5082.93.
DATA:
April factory orders are due at 10:00 a.m. 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.
MOVERS:
Plug Power (NASDAQ:PLUG) jumped 4.5 percent in premarket trading after the fuel cell maker announced an expansion of a contract with Walmart Canada.
ADRs of Youku Tudou (NYSE:YOKU) were up 5.8 percent in early New York trading after the Beijing-based Internet television company and Disney formed a Marvel online movie marketing partnership. Disney was unchanged from its closing price of $110.96.
Dollar General (NYSE:DG) gained 3 percent after the discount retailer posted a better-than-expected 14 percent rise in first-quarter profit, helped by higher traffic and customer spending.
Fiat Chrysler Automobiles NV (NYSE:FCAU) slipped 0.3 percent in early trading. The car manufacturer delayed the redesign or release of some current or new vehicles in North America in the past year, Reuters reported, citing suppliers familiar with the company’s plans.
American International Group (NYSE:AIG) wavered between gains and losses in early trading. The insurer will sell 50 million shares of AerCap Holdings NV in an initial public offering, according to the aircraft leasing company.
COMMODITIES:
Spot gold was little changed at $1,189.30 an ounce.
Brent Crude Oil for July was up 40 cents at $65.28 a barrel. U.S. crude was up 60 cents at $60.80 a barrel.
OTHER MARKETS:
Stock markets in Europe sank amid a flurry of diplomatic activity between Greece and its international creditors. Germany’s DAX lost 0.6 percent, paring its steepest losses on the day. The Stoxx Europe 600 Index declined 0.5 percent.
Asian markets ended mixed, with the Shanghai Composite Index closing 1.7 percent higher.