Stocks are sliding

Stocks are lower and the euro is surging on Tuesday morning.

Near 9:48 a.m. ET, the Dow was down 89 points, the S&P 500 was down 10 points, and the Nasdaq was down 28 points.

Stocks closed higher yesterday to start June in the green.

The euro is having a big day, rallying as much as 2% to cross the 1.11 level against the dollar.

Greece met with its creditors on Monday night and has submitted a list of reforms. But Eurogroup President Jeroen Dijsselbloem said a deal with creditors is still far, according to Bloomberg.

The rally also came after data showed that eurozone inflation read positive for the first time since last November.

The US dollar index was down more than 1%, at around 96.17.

Auto sales data for May is rolling in, and companies are crushing estimates so far.

General Motors beat expectations with a 3% jump in sales (versus 0.1% estimated), while Ford recorded a 1.3% decline in sales, less than the 3.1% slump forecast.

At 10:00 a.m. ET, we’ll get the reading on factory orders for April.

NOW WATCH: 11 little-known facts about Hillary Clinton

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at