CNBC.com
Stock index futures pointed to a weaker open for Wall Street on Monday as investors remained uncertain about the outcome of a deal made by Greek politicians to approve an international bailout for Greece and grew increasingly worried about Italy’s public finances and political instability.
Italian bond yields rose to new euro era highs on Monday as nervousness over a key parliamentary vote in the country on Tuesday mounts.
Greek Prime Minister George Papandreou sealed a deal with the opposition on a crisis coalition to approve an international bailout, but details remain thin despite an EU ultimatum for Athens to get serious about tackling its problems.
Euro zone finance ministers meet in Brussels on Monday for a regular, scheduled meeting, but are likely to discuss the ongoing turmoil in the region.
Retailer Best Buy will pay $1.3 billion to buy its British partner Carphone Warehouse Group out of a fast-growing U.S. mobile phone venture, while abandoning plans for a chain of European megastores.
The move is the latest sign Best Buy is scaling back its overseas ambition, Reuters reported.
In other company news, General Motors is on track to double its annual tally to 5 million vehicles in China by 2015 despite slowing growth in the world's largest auto market, its China chief said.
MF Global is also still in the spotlight. CME Group and IntercontinentalExchange moved over the weekend to limit the fallout from the MF Global Holdings bankruptcy on futures markets by lowering margin requirements on some accounts.
Among economic indicators out on Monday, the Conference Board releases its employment trend index for October.
The Federal Reserve issues consumer credit numbers at 3 pm New York time.
Economists polled by Reuters forecast consumer credit to rise $5 billion, versus a $9.5 billion drop in August.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.