LONDON -- In what is expected to be a light day for economic data, the Dow Jones Industrial Average
Domestic news today includes the weekly jobless claim figures, which are expected to be broadly flat from last week at 373,000. The April data for durable-goods orders is also due at 8:30 a.m. EDT, with forecasts suggesting an increase in orders after the 3.9% fall seen in March.
In Asia, the Hang Seng and Shanghai Composite indexes closed down slightly after preliminary data from HSBC suggested China's manufacturing sector has contracted again.
In Europe, last night's EU summit was inconclusive, and the outcome of the meeting suggests no new decisions will be made regarding Greece until after the Greek elections on June 17.
In addition, this morning saw the release of a mixed batch of European economic data. German GDP rose by 0.5% in the first quarter, but the latest Markit Composite PMI figures showed that private-sector activity in Germany had contracted for the first time since November. In France, the Markit PMI indicated private-sector contraction had accelerated, with a fall from 45.9 in April to 44.7 in May.
In the U.K., the Office for National Statistics published a revised estimate showing that GDP fell by 0.3% in the first quarter -- not the 0.2% originally reported -- with weak construction activity the culprit. The FTSE 100
One name likely to see heavy activity today is Hewlett Packard
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Other companies due to report earnings through the day today include HJ Heinz, Costco Wholesale, and Tiffany.
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