lunes, 6 de febrero de 2012

Stocks edge lower amid Greece jitters.

NEW YORK (CNNMoney) -- U.S. stocks fell at Monday's open, as investors anxiously await a Greek government decision on budget cuts that are key to securing a second bailout and avoiding default.
Dow Jones industrial average (INDU) lost 43 points, or 0.3%. The S&P 500 (SPX) shed 4 points, or 0.3%. The Nasdaq (COMP) dropped 10 points, or 0.3%.

After failing to strike a deal over the weekend, political leaders in Greece are set to resume talks Monday.
They're trying to reach a deal on austerity measures and financial reforms necessary for a €145 billion bailout package from the European Union, International Monetary Fund and European Central Bank.
Without the bailout money, the risk is that Greece will miss a €14.5 billion bond redemption in March. That could lead to a disorderly default, a development that would likely have severe consequences for the global financial system.
"Greece is the single largest determinant with what's going on with regard to sentiment," said Dan Greenhaus, equity market strategist at BTIG. "But there's a level of exhaustion. There's a sense that we want to get it over with."

What's next for Europe?

For most of 2012, investors have largely ignored problems in Europe, pushing up all three indexes.
The Dow ended last week at its highest level since May 2008, while the Nasdaq -- up more than 11% for the year -- finished at its highest level since December 2000. U.S. stocks rallied Friday, following a much larger-than-expected increase in hiring and a surprise drop in the unemployment rate.
Companies: Shares of Alpha Natural Resources (ANR) fell after the company announced late Friday that will reduce coal production by four million tons due to weakening demand.
Over the weekend, Micron Technologies (MU, Fortune 500) appointed Mark Durcan to lead the company after CEO and chairman Steve Appleton died Friday in a small-plane crash in Boise, Idaho. Durcan, who will also be the director of the Micron's board, previously served as chief operating officer and chief technical officer.
Meanwhile, investors will also continue to keep an eye on quarterly corporate results.

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