US Futures Slip Under Weight of Sliding Oil Prices

U.S. stock futures edged lower Monday as oil prices continued falling and as European markets were weaker amid uncertainty about Greece’s future in the Eurozone.

German magazine Der Spiegel on Monday reported that German Chancellor Angela Merkel is prepared to let troubled Greece exit the Eurozone. The magazine cited unnamed government sources as saying that Greece exiting the euro currency would be “manageable.”

West Texas Intermediate oil for delivery Feb. 15 fell 2.8% to $ 51.22 while Brent crude was down 3.2% at $ 54.60.

Reflecting the situation in Greece, and in oil markets, National Bank of Greece ( NBG ) dropped 7.1% before the bell while BP ( BP ) and Brazil’s Petrobras ( PBR ) were the most active oil producers that fell, 4% and 5.9%, respectively.

Conatus Pharmaceuticals ( CNAT ) was a bright spot, higher 35.4% as it extended its Friday rally on optimism for its upcoming release of data on its Emricasan treatment of chronic liver disease. Uranerz Energy ( URZ ) jumped 20% after Energy Fuels (UUUU) said it has agreed to buy the company. UUUU was lower 2% before the bell.

S&P Futures

spfutures.org@imediaone.com

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