By Anora Mahmudova and Carla Mozee, MarketWatch
But losses in sight for the month
U.S. stock futures moved higher Tuesday, as calm appeared to
return to markets following a Greek-led stock rout that drove Wall
Street to its worst session of the year on Monday.
Futures came off their lows following a report that last-ditch
efforts to revive talks
(http://www.marketwatch.com/story/last-ditch-efforts-underway-to-revive-greek-talks-report-2015-06-30)
between Greece and its creditors were under way.
Futures for the Dow Jones Industrial Average rose 84 points, or
0.5%, to 17,604, while those for the S&P 500 index were higher
by 12 points, or 0.6%, at 2,063. Futures for the Nasdaq-100 index
gained 20 points, or 0.5%, to 4,398.
On Monday, stocks world-wide fell after negotiations aimed at
steering Greece away from debt default broke down. On Wall Street
(http://www.marketwatch.com/story/us-stocks-set-for-sharp-losses-with-greece-on-brink-of-default-2015-06-29),
the S&P 500 index and the Dow Jones Industrial Average each
lost their gains for the year, as they fell 2.1% and 2%,
respectively. The Nasdaq Composite tumbled 122.42 points, or 2.4%,
to 4,958.47.
Tuesday morning, investors also are set to wrap up the second
quarter and the month, with a reading on consumer confidence and an
update from the housing sector ahead.
For the quarter, the Nasdaq is holding to a thin gain of 1.2%,
while the Dow and S&P 500 were looking at losses of 1% and
0.5%, respectively. The indexes are each facing declines of more
than 2% for the month.
Greece on Tuesday is slated to miss its 1.54 billion euro ($1.71
billion) payment to the International Monetary Fund, and the
country's bailout program also expires the same day. Questions
remain about the future of the country as it heads toward a
referendum
(http://www.marketwatch.com/story/yay-or-nay-greeces-referendum-will-be-complicated-2015-06-29)
Sunday that is being framed as a vote on whether Greece should stay
in the eurozone.
"Financial markets are likely to settle down a little on Tuesday
following widespread panic-driven selling at the start of the
week," said Craig Erlam, senior market analyst at Oanda, in a note.
"I don't think markets were particularly ready for those
developments...as we're just so used to an 11th-hour deal that I
think people just assumed that would happen again," he said.
Data: At 9 a.m. Eastern Time, the S&P/Case-Shiller home
price index for April is due. A June reading of the Chicago
purchasing managers index is expected at 9:30 a.m. Eastern.
The Conference Board's report on consumer confidence for June is
slated to release at 10 a.m. Eastern, and economists polled by
MarketWatch expect the reading to rise to 97.5 from 95.4 in
May.
Stocks to watch: ConAgra Foods Inc. (CAG) shares rose 1.3% after
the company reported fiscal fourth-quarter earnings and said it's
planning to exit the private-label business as it focuses more on
growing its consumer and commercial foods segments.
Blackstone Group (BX) said it would sell its U.S. security
services business AlliedBarton to French investment firm Wendel for
about $1.67 billion.
General Electric Co. (GE) has agreed to sell its European
private-equity finance business to Japan's Sumitomo Mitsui Banking
Corp. for about $2.2 billion.
Microsoft Corp. (MSFT) is expected to see active trade after it
said Monday it will exit the ad-sales business and has contracted
AOL Inc. (VZ) to handle all its ad sales
(http://www.marketwatch.com/story/aol-takes-over-majority-of-microsofts-ad-business-2015-06-29)
across Microsoft's properties.
For more on today's notable movers read Movers & Shakers
column
(http://www.marketwatch.com/story/microsoft-apollo-education-conagra-in-spotlight-2015-06-29).
Other markets: Chinese shares bounced back from heavy selling
(http://www.marketwatch.com/story/china-shares-fall-as-rest-of-asia-is-calm-2015-06-29)
seen Monday, pulling the benchmark from losses that ended in
bear-market territory. Japan's Nikkei ended higher by 0.6%. But
European stocks extended their losses
(http://www.marketwatch.com/story/european-stocks-mired-in-red-with-greek-default-expected-2015-06-30)
as investors continued to wrestle with Greek-related worries.
Oil prices were higher, while gold futures eased.
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