Greece, fiscal cliff weigh on U.S. stock futures

Greece, fiscal cliff weigh on U.S. stock futures
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MADRID (MarketWatch) — U.S. stock-market futures pointed to a lower start for Wall Street on Monday, with investors focusing on continued negotiations over the so-called fiscal cliff and discussions among euro-area finance ministers over the next tranche of aid for Greece.

No major economic data are on the agenda.

Futures for the Dow Jones Industrial Average (CBOT JZ2) fell 57 points, or 0.4%, to 12,904, while those for the Standard & Poor’s 500 index (GLC:SPZ2) shed 6.8 points, or 0.5%, to 1,398.50.

Futures for the Nasdaq 100 index (CME:NDZ2) dropped 7.75 points, or 0.3%, to 2,626.50.
“We could see U.S. markets start positively, but they’re a bit nervous about Greece,” said Henrik Drusebjerg, senior strategist at Nordea Bank. He said prospects for a so-called Santa Claus rally lie in the hands of global politicians.

The Dow industrials (DJI JIA) rose 1.4% on Friday, marking its first close above 13,000 since Election Day on Nov. 6. The blue-chip benchmark netted a 3.4% weekly gain, as the Standard & Poor’s 500 index (SNC:SPX) rose 3.6%
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