Will they? Won't they? The world awaits the decision from Greece's parliament as to whether it will support the austerity and reform measures to which Greece's prime minister has agreed. We believe consensus expectations are that they will in fact get approval, but there will be nervousness until the final vote is in.
For all the worries in regard to China's stock market plunge, second-quarter gross domestic product in China rose 7%. The concern is what happens now, as Chinese consumers feel poorer given the drubbing the stock market has taken.
The Shanghai Composite Index traded 3% lower today, and around a quarter of the stocks of mainland firms remain suspended from trading.
At 7:45 a.m. ET, the S&P 500 futures were up 2.00, the Dow futures up 15.00 and the Nasdaq futures up 9.25.
In the U.S., Federal Reserve Chair Janet Yellen will testify before Congress this morning beginning at 10 ET.
In M&A news, Celgene (CELG) has agreed to acquire Receptos (RCPT) for $7.2 billion in cash, or $232 a share, a 12% premium to Receptos' closing price on Tuesday.
The earnings calendar is heating up with notable reports from BlackRock (BLK), PNC Financial (PNC), Bank of America (BAC), US Bancorp (USB), Delta Air Lines (DAL), Kinder Morgan (KMI), Intel (INTC), and Netflix (NFLX).
At 8:30 a.m. ET, we'll see the June month-over-month PPI Final Demand report with consensus at 0.2% and the July Empire Manufacturing report with consensus at 3.25. At 9:15 a.m. ET, the June Industrial Production report will be released with consensus at 0.2%. At 10:30 a.m. ET, the DOE Energy Inventories are released and at 2 p.m. ET we get the Fed's Beige Book.