- European stocks were lower, with Athens down more than 4% on Friday morning after the representatives of the International Monetary Fund (IMF) left Brussels as talks broke down. Sources quoted by the German newspaper Bild say the German government is holding concrete consultations about what to do if the Greek state goes bankrupt, including on capital controls on Greece and the possibility of debt haircuts.
- Oil prices fell after Saudi Arabia said it stood ready to raise output to meet demand, potentially adding to oversupply in a global economy that seems to be slowing down. Front month U.S. crude fell around $0.50 to $60.25 a barrel by 03:04 a.m. ET, while Brent futures were down $0.41 at $64.70 a barrel.
- Emerging markets saw the biggest outflows since the financial crisis, data from funds tracker EPFR quoted by the Financial Times show. Around $9.3 billion left emerging market funds in the week that ended Thursday, of which $7.1 billion from Chinese equity funds.
- Cash levels at the Templeton Global Fund are among the highest they have been in anticipation of the first rate hike by the Federal Reserve since the financial crisis, Franklin Templeton's lead bond fund manager Michael Hasenstab told the Wall Street Journal.
- Dish Network (DISH) is discussing with banks about possibly borrowing between $10 billion and $15 billion to fund its takeover of T-Mobile (TMUS), the Wall Street Journal reports.
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