【zt:briefing.com】S P futures vs fair value: -0.20. Nasdaq futures vs fair value: -2.80. (股市)
The stock market is on track for a flat open as futures on the S P 500 trade within a point of fair value. Index futures have spent some time on each side of their flat lines, slipping to lows after markets in Europe opened for action. However, the early weakness was short-lived and futures have been able to return to unchanged while markets in Europe remain pressured.
Last week, the Dollar Index (97.29, -0.62) registered its first decline in five weeks and the greenback is surrendering ground to its peers once again today. Most notably, the euro is higher by 0.8% at 1.0905 (+85 pips) while the yen has added 0.1% (16 pips) against the dollar (119.87). The euro could remain active as Greek Prime Minister Alexis Tsipras is scheduled to meet German Chancellor Angela Merkel in Berlin today in an attempt at creating a sustainable solution to Greece's problems. Also of note, the Financial Times has obtained a copy of a letter sent by Mr. Tsipras to Ms. Merkel, in which the Greek premier warns that Athens could miss its impending debt payments.
Domestically, corporate news has been relatively light, but the biotech space is likely to struggle early as Gilead Sciences (GILD 100.15, -2.14) trades lower by 2.1% in pre-market after Bloomberg reported that some patients who had been taking Gilead's hepatitis C drugs in combination with certain heart drugs have developed complications. Treasuries hold modest gains with the 10-yr yield lower by a basis point at 1.92%.
The Existing Home Sales report for February (Briefing.com consensus 4.90 million) will be released at 10:00 ET.
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