Peter Schacknow, Senior Producer, CNBC Breaking News Desk
The major U.S. stock averages may have stabilized during the Thursday session, but June is still shaping up as an ugly month for Wall Street's bulls.
The Dow and S&P 500 are close to breakeven for the week, putting both in danger of their seventh straight week of losses, and June is shaping up as the worst month for the major averages since May of 2010.
Greece, of course, continues to be a primary focus for investors, with a cabinet reshuffling the latest news to come out of Athens.
Prime Minister George Papandreou has replaced finance minister George Papconstantinou with Evangelos Venizelos, who challenged Papandreou for the party leadership in 2007.
Today's notable economic reports both come after the opening bell: the University of Michigan's latest consumer sentiment index comes at 9:55am ET, with economists looking for a preliminary June reading of 73.8, compared to the May's final tally of 74.3.
At 10am ET, the Conference Board's index of leading economic indicators is expected to register a 0.3% increase for May, reversing a drop of the same size for April.
Blackberry maker Research In Motion (RIMM) tops our stocks to watch list this morning, after the company cut its profit outlook for the current quarter and the fiscal year.
It was the second time this year RIM has cut its outlook, and its stock fell more than 14% in after-hours trading.
We'll also watch shares of Bankrate (RATE), which debuts today after pricing its IPO
at $15 per share, in the middle of the expected range of $14 - $16.
ING Groep (ING) has sold its ING Direct online U.S. banking business to Capital One (COF) for $9 billion, in a deal that was announced after the close but was widely reported in advance.
Celgene (CELG) may get some positive action today, as the FDA approves expanded use of its lymphoma drug Istodax.
Crude oil futures are down once again this morning on fallout from the Greek debt crisis, putting crude on track for a 5% fall this week. That would be its biggest weekly drop since early May.
The situation in Greece is also helping push the euro down to a nearly 3-week low vs.the U.S. dollar.
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