US stock futures are lower, but the market is more or less shaking off another weekend of headlines out of Greece.
This weekend we were prepared for a “make or break” meeting between Greece and its European creditors. And while there is still no indication that we’re going to see a deal emerge, the market is — right now at least — fairly unconcerned.
Shortly after the US futures open, Dow futures were down about 74 points while S&P 500 futures were off 10.
These modest declines, however, are not all that unexpected.
After 3 weeks of what to most US investors seems like “more of the same” from Greece it isn’t a total shock that markets aren’t moving much on these headlines.
As it stands right now, there is no deal in Greece, talks are continuing, and Greece has until Wednesday to get its parliament to sign off on a proposal that would allow talks to begin again.
On the currency side, the euro was doing basically nothing.
And so you’ve got to look at this a few ways.
Markets are indicating that not much has changed.
But with the hashtag #ThisIsACoup trending on Twitter, it seems that the political situation in Europe is very much nearing an inflection point.
Read the tea leaves as you see fit.
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