US Futures Mixed as Greek Anti-Austerity Party Wins Election to Spell Potential Euro Zone Instability

U.S. stock futures were mixed Monday, with the Dow Jones Industrial Average and the S&P 500 pointing lower and the Nasdaq 100 flat but in the black, after the Greek opposition party Syriza, which opposes austerity measures imposed on the country by the European Union as terms for the bailout of the country, won the election Sunday.

The party is in favor of continued aid from the euro zone, and wants to retain the euro as currency, but reports leading up to the election suggested that some European leaders were preparing for the scenario that Greece might exit the common currency if Syriza won the election.

In economic data, the Dallas Fed general business activity index is expected to be at 4.0 for January, down from 4.1 in December and within the wide consensus range of a decline to -5.0 and an increase to positive 7.3, according to data compiled by Econoday.

The week will also bring data on new home sales in December on Tuesday; the Federal Open Market Committee is expected to leave rates unchanged on Wednesday and on Friday, data are expected to show that GDP grew 3.2% in Q4, down from 5.0% in Q3.

For Monday, eyes were on Microsoft ( MSFT ), which reports earnings after-hours. MSFT was higher 0.5% in recent pre-market trade.

S&P Futures

spfutures.org@imediaone.com

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