US Stock Index Futures Down On Greek Worries

Futures on major US stock indices point to a lower opening Tuesday as growing concerns over political instability in Greece weighed on sentiment.

Futures on the S&P 500 are down 0.61 percent, futures on the Dow Jones Industrial Average are down 0.54 percent and Nasdaq 100 futures are down 0.68 percent.

The political gridlock in Greece after two major parties failed to win enough parliamentary seats to form a coalition raised new fears that the debt-ridden country will default and quit the euro.

Antonis Samaras, leader of the New Democracy party that won the biggest share of the vote, said on Monday that it was impossible to form a coalition government. The attempt is now passed to the leader of the No. 2 party, the radical leftist Syriza, Alexis Tsipras. He has now three days to form a government.

On the corporate front, Wynn Resorts and Electronic Arts will be in focus. Wynn Resorts Ltd. (WYNN) shares declined 1.53 percent to $1.92 in pre-market session as its first-quarter earnings fell short of expectations.

Electronic Arts Inc. (EA) shares will be in focus as its first quarter earnings guidance fell short of expectations. The company expects first quarter adjusted net loss to be in a range of $0.45 to $0.40 per share on revenue of $500 million, while analysts expect net loss of $0.33 per share on revenue of $577.91 million.

On the earnings front, Walt Disney Co, OfficeMax Inc, Discovery Communications, Fossil Inc, Tenet Healthcare and DIRECTV will release their quarterly earnings.

On Monday, US stocks ended flat as concerns over election results in Europe faded and better-than-expected economic data in the US and Germany renewed optimism about economic recovery.

European stocks are currently trading lower with FTSE 100 down by 19.92 points, DAX30 down by 74.63 points and CAC 40 down by 55.27 points.