Stock index futures edged lower on Tuesday after a report Greece wants to renegotiate a deal it struck for financial aid reignited concerns about the stability of the debt-ridden country.
Greece's government, concerned that the International Monetary Fund could impose tough conditions in exchange for aid, wants to bypass an IMF financial contribution, senior government sources in Athens told Market News International.
Although a high ranking official at the Greek finance ministry denied the report, the euro fell against dollar as investors sought a safe haven and shied away from riskier assets.
There is speculation out there that the combination of the European Union and International Monetary Fund assistance in reducing the national budget deficit of Greece may falter, said Arthur Hogan, chief market analyst at Jefferies & Co in New York.
S&P 500 futures fell 2.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 13 points, and Nasdaq 100 futures lost 4 points.
Shares of Massey Energy Co
Top U.S. coal miner Peabody Energy Corp
The Federal Reserve will release minutes from its March 16 policy setting meeting, at which the Federal Open Market Committee reiterated its intention to keep interest rates ultra low for an extended period. The committee will issue the minutes at around 2 p.m. (1800 GMT).
We're going to try to glean something from that because everybody wants to know when the Fed is going to make their move, said Hogan.
As the U.S. economy improves, Treasury debt prices have fallen, with benchmark yields rising to touch 4 percent for the first time in 10 months, after upbeat data boosted bets the economic recovery will quicken.
U.S. stocks rose on Monday, pushing the Dow up near the 11,000 level, as signs of a turnaround in the U.S. labor market bolstered hopes the economy is strengthening and the profit outlook is brightening.
(Reporting by Edward Krudy; Editing by Padraic Cassidy )