US Futures Slightly Lower as Markets Await European Leaders Meeting on Greece

U.S. stock futures were trading slightly in the red Wednesday ahead of a meeting between European leaders Wednesday and Thursday that could give clues about Greece’s fate, even as expectations were low for a resolution to the standoff.

On Wednesday, European finance ministers will meet and then European leaders meet on Thursday. The rhetoric between Greece and its creditors has swung from conciliatory to acrimonious and back over the last few days.

Greece is seeking a bridge-loan to give it time to negotiate a longer-term agreement that would underpin its plans to roll back austerity measures while European leaders and Germany has shown little willingness to budge from the original terms of the bailout that was extended to the country.

In equities, Pier 1 Imports ( PIR ), which imports home decor and furniture, plunged 34% to a 3.5-year low before the market opened after cutting its 2015 guidance and as Telsey Advisory cut its price target on the stock by to $ 13 from $ 17. Rite Aid ( RAD ) rose 5.3% after agreeing to buy pharmacy benefit manager EnvisionRx for $ 2 billion in cash and stock.

You may also like...

Rules of Discussion on US Futures Slightly Lower as Markets Await European Leaders Meeting on Greece

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is strictly prohibited
5. Spam links are not allowed. Too much promotion or using Contact info in ID will lead to account ban.
IMP : Members are requested to flag any violations to keep Forum Clean.
Loading comments …