Morning Wire — US Stock-Index Futures Down Sharply

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US index futures are somewhat higher this morning as talks between Greece and other Eurozone countries adjourned without a resolution. Creditors are reportedly seeking a 4% coupon on new Greek bonds, exactly double what the European Central Bank and the IMF have offered. European markets are also sinking today, while markets in India and Japan are up. Markets in China and Hong Kong are closed for the lunar new year holiday.

At about 8:30 a.m. ET, Germany’s DAX is down -1.04% at 6,369.44 and France’s CAC 40 is down -1.10%, at 3,301.61. In London, the FTSE 100 is down -0.84%, at 5,734.20.

In Asia, the Hong Kong and Shanghai exchanges remain closed for the lunar new year holiday. The Nikkei index closed up 0.22%, at 8,785.33.

Dow futures are down -0.33%, at 12,608.00. The Nasdaq 100 is down -0.35%, at 2,426.50 and the S&P is down -0.49%, at 1,304.70.

In the currency markets, the US dollar is weaker against the British pound and stronger versus the euro and the Japanese yen. The US dollar index is up 0.165% at 79.930.

In commodities, WTI and Brent crude are lower this morning, with WTI down -0.34% at $99.24/barrel and Brent is down -0.17% at $110.39/barrel. Gold is down -0.69% this morning, at $1,666.80/ounce.

Paul Ausick