Wall Street stock futures slip; Greece in focus

By @ibtimes on

Stock index futures signaled a lower start for equities on Wall Street on Tuesday, with futures for the S&P 500, the Nasdaq and the Dow Jones down 0.1 to 0.2 percent by 0942 GMT.

* Greece still needed a vote of approval by lawmakers on Wednesday and Thursday for the austerity measures being debated through parliament in order to receive the next tranche of the bailout program.

If it does not get the next tranche, analysts said Greece could default, sparking a Europe-wide crisis and potential credit market freeze similar to the Lehman collapse.

* Nike Inc quarterly earnings beat expectations on Monday, helping its shares gain 4.3 percent in after-hours trading.

* Swiss drugmaker Roche will try and persuade a U.S. health panel that it should retain approval for Avastin, the world's best-selling cancer medicine.

* Google said French search engine company 1plusV had been notified the company of its intention to file a 295-million-euro damage claim but declined to comment further on the matter.

* Steve Balmer, chief executive of Microsoft is set to launch its Office 365 software on Tuesday - a revamped online version of its hugely profitable Office software suite.

* French Finance Minister Christine Lagarde looked set to get the majority support of the International Monetary Fund board to become the new chief.

* Investors will watch the U.S. S&P/Case-Shiller April Home Price index at 1300 GMT and both the U.S. Richmond Fed Manufacturing Services index for June and the U.S. Consumer Confidence for June at 14 GMT, for signs that the economic recovery is back on track.

* Wall Street rose on Monday after three days of losses on optimism over Greece's austerity plan and France's proposal that French banks would roll over Greek debt.

The Dow Jones industrial average <.DJI> gained 0.9 percent, the Standard & Poor's 500 Index <.SPX> rose 0.9 percent and Nasdaq Composite Index <.IXIC> added 1.3 percent.

* European shares were flat on Tuesday ahead of a Greek parliamentary vote on austerity measures.

Join the Discussion