Will they? Won't they? Who needs a big Hollywood blockbuster to keep us on the edge of our seats this summer, when the good leadership in Greece are providing us with all the suspense we can handle? Another emergency summit is set to begin, where Greek negotiators meet with their eurozone counterparts.
U.S. equity futures were modestly lower this morning, as crude oil saw some gains and the dollar weakened.
The drama in Greece is continuing to weigh on German business confidence, which weakened for the second month in a row. Ifo's business climate index fell to 107.4 in June from 108.5 in May and came in below expectations of 108.1.
In M&A news, Dutch food retailer Royal Ahold has agreed to merge with Belgium's food retailer Delhaize (DEG) bringing together a host of well-known U.S. supermarket chains including Stop & Shop, Giant, Food Lion, Hannaford and the online grocery retailer Peapod.
Earnings calls of note today include Lennar (LEN) ¿ a competitor of Standard Pacific (SPF), which is held in the Stocks Under $10 portfolio -- Monsanto (MON), Steelcase (SCS), Herman Miller (MLHR), Bed Bath &Beyond (BBBY), and HB Fuller (FUL).
The domestic calendar is meaningful today, as we brace ourselves for the final first-quarter GDP report at 8:30 a.m. Expectations are calling for -0.2% growth.
Also of note, at 10:30 a.m. we will get the DOE Energy Inventories report.
Happy trading!
Bryan Ashenberg is the portfolio manager for Growth Seeker and the fundamental analyst for Trifecta Stocks. Test drive with a free trial.
