The weekend is over, and markets are starting off on a negative note.
Already, both US futures and the euro have clawed back some initial selling, but both are still pointing clearly lower.
Here’s S&P futures via FinViz:
Obviously all eyes are on Europe, and right now we’re in a holding pattern.
The Greek default rumours didn’t pan out this weekend, and in fact Prime Minister Papandreou sounded committed to the austerity/bailout plan.
Conversely, the smoke signals out of Germany indicate that hope is fading to save the country.
By the time action really begins in Europe in Monday, we’ll likely know a lot more.
UPDATE: Japan is getting smashed out the gate:
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