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US STOCKS-U.S. futures fall as Greece uncertainty continues
July 6, 2015 / 11:34 AM / 2 years ago

US STOCKS-U.S. futures fall as Greece uncertainty continues

* Futures down: Dow 138 pts, S&P 14.25 pts, Nasdaq 35.5 pts

By Tanya Agrawal

July 6 (Reuters) - U.S. stock index futures fell on Monday after Greece rejected debt bailout terms, throwing the future of the country’s euro zone membership into further doubt.

* World markets fell, but less sharply than expected and analysts attributed the relatively muted reaction to expectations the European Central Bank would act to limit any damage.

* The ECB’s governing council began a conference call at 1000 GMT (6 a.m. ET) Monday to decide how long to keep Greek banks afloat. German Chancellor Angela Merkel and French President Francois Hollande will meet in Paris in the afternoon.

* Greece’s finance minister quit and Prime Minister Alexis Tsipras said his government was ready to return immediately to negotiations with creditors in a bid to open shuttered banks.

* Data due on Monday is expected to show that the pace of growth in the U.S. services sector slowed in June from the previous month. The Institute for Supply Management’s services index data is expected at 10 a.m. ET.

* U.S. stocks closed slightly lower on Thursday ahead of the long holiday weekend and as investors digested mixed jobs data which dampened the economic outlook.

* Some analysts say the combination of the Greek crisis and tepid employment data puts off a September rate hike by the Federal Reserve. The Fed has said it will raise rates only when it sees a sustained economic recovery.

* Health insurer Humana’s shares rose 3.7 percent to $194.50 in premarket trading after bigger rival Aetna said on Friday it would buy the company for about $37 billion. Aetna fell 6 percent at $118.05.

Futures snapshot at 7:26 a.m. EDT:

* S&P 500 e-minis were down 14.25 points, or 0.69 percent, with 288,294 contracts traded.

* Nasdaq 100 e-minis were down 35.5 points, or 0.8 percent, on volume of 36,264 contracts.

* Dow e-minis were down 138 points, or 0.78 percent, with 33,678 contracts changing hands. (Editing by Savio D‘Souza)

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