Market Update
Stock index futures were trading with a negative bias, as markets fell globally on account of continuing sovereign debt concerns in Europe.
At the time of writing, S&P 500 futures erased 2.6 points to 1311 while Nasdaq futures slipped 2.25 points to 2299.
The fiscal state of Greece and several other indebted nations, continued to keep investor sentiment on edge, with strength in perceived safe havens such as the U.S. dollar and gold signaling a flight of capital out of equities. But some base metals, thanks to a Goldman Sachs report that urged investors to buy copper and zinc.
In the United States, a slew of macro-economic data is set to be released: the MBA Mortgage Index, the FHFA Housing Price Index and reports on durable orders and crude inventories are due before and after the opening bell.
On the earnings calendar, firms including 99 Cents, Costco Wholesale, Gigamedia, Guess and Hormel Foods report quarterly results.
Shares in Applied Materials were trading 5.6% lower in pre-market trading after the firm posted its earnings after market close and its earnings outlook disappointed.