LONDON -- The futures market is suggesting the Dow Jones Industrial Average
Housing starts are expected to have risen from 654,000 in March to 690,000 in April, with the latest industrial production figures expected to be up by 0.7%.
However, the risk of Greece exiting the eurozone is now higher than ever following the country's failure to establish a coalition government, and these concerns may eventually weigh on the Dow. Anxiety over the potential fallout of a "Grexit" spooked Asian markets last night and caused sharp falls in European markets this morning. By lunchtime, the main European indexes had recovered some ground, but sentiment remained negative.
In Asia, the Nikkei closed 1.1% down, while the Hang Seng Index lost more than 3% in Wednesday's trading session. The FTSE 100
European government bond yields also moved to reflect the new level of risk, with yields on Spanish 10-year bonds reaching 6.4% and Portuguese 10-year debt climbing to 11.7%. Even German government bonds fell slightly in price, but U.K. gilt bond prices rose slightly, reflecting perhaps the security of the U.K.'s independent currency.
In company news, shares of J.C. Penney fell by 13% in German trading this morning, and Arena Pharmaceuticals
However, General Motors Co
Companies due to release quarterly earnings before the markets open this morning include Abercrombie & Fitch, Target, Deere, and Staples.
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Roland Head owns no shares mentioned in this article. Motley Fool newsletter services have recommended buying shares of General Motors. The Motley Fool has a disclosure policy.
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