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18Jun2015 Pre-Market Commentary: Grexit Remains A Distinct Possibility, U.S. Dollar Falls, Oil Rises, Investors Concerned

Written by Gary

U.S. index futures are trading higher in pre-market activity this morning as the U.S. dollar and bond yields are showing additional weakness while Greece's drift closer to default pushed European stocks lower. Investors remain concerned about Markets peaking.

Markets are expected to open fractionally higher.


Here is the current market situation from CNN Money

What Is Moving the Markets

Here are the headlines moving the markets.

May 2015 CPI Annual Inflation Rate Is Now ZERO

by Doug Short and Steven Hansen

According to the BLS, the Consumer Price Index (CPI-U) year-over-year inflation rate is ZERO. The year-over-year core inflation (excludes energy and food) rate moderated 0.1 to 1.7%, and continues to be under the targets set by the Federal Reserve.

Kia and Hyundai Show Improvement in J.D. Power Quality Study

While the auto industry over all improved by 3 percent in initial quality, South Korean automakers improved by 11 percent, the J.D. Power study showed..

GM asking advisors for help rekindles FCA merger talk

MILAN (Reuters) - General Motors seeking advice from investment banks shows it is taking an attempt by Fiat Chrysler Automobiles (FCA) to force a merger with its larger U.S. rival seriously, analysts and traders said.

European Shares Down Ahead of Greece Talks

European shares fell ahead of a summit at which finance chiefs are expected to address an impasse in negotiations between Greece and its creditors.

EU's Vestager Defends Competition Record

Europe's top competition official denied suggestions she has pursued political goals in pursuing major overseas companies like Apple and Google.

Merkel says Greek deal still possible if Athens shows the will

BERLIN/ATHENS (Reuters) - German Chancellor Angela Merkel said on Thursday a deal between Greece and its creditors was still possible if Athens showed the necessary will, amid mounting pessimism that the austerity-hit country might crash out of the euro zone.

U.K. to End Wind-Farm Subsidies

The British government said it would end subsidies for onshore wind farms a year earlier than planned in a move that has drawn criticism from environmentalists and the Scottish government.

Exclusive: Greece has not asked Russian finance ministry for aid - deputy minister

ST PETERSBURG, Russia (Reuters) - Greece has not asked Russia's finance ministry for financial assistance and its prime minister is visiting Russia to discuss joint projects, not to seek cash, Russian Deputy Finance Minister Sergei Storchak said on Thursday.

Alibaba's Ant Financial valued at $45 billion after new funding: source

BEIJING (Reuters) - China's Ant Financial Services Group, e-commerce giant Alibaba Group Holding Ltd's internet finance affiliate, closed a private placement valuing the unit at about $45 billion, a person familiar with the matter said Thursday.

Futures rise as Fed hints at gradual rate hike

(Reuters) - U.S. stock index futures were higher on Thursday, a day after the Federal Reserve said the U.S. economy is likely strong enough to withstand an interest rate hike later this year but lowered its economic growth forecast.

Fed keeps lid on dollar, yields; Greece hurts stocks

LONDON (Reuters) - Bond yields and the dollar fell on Thursday after the Federal Reserve signalled that U.S. interest rates would rise more slowly than markets had expected, while Greece's drift closer to default pushed European stocks lower.

Oil prices rise on weak dollar, hopes of Greek deal

LONDON (Reuters) - Oil prices rose on Thursday as a weaker dollar made fuel cheaper for holders of other currencies, and on hopes of a last-minute breakthrough that could keep Greece in the euro zone and help avoid a shock to European economic growth.

Greek Central Bank Issues Dire Warning on Bailout Talks

Greece's central bank, in unusually stark language that angered the ruling party, warned that failure to clinch a deal with international creditors on desperately needed funding could "snowball into an uncontrollable crisis" for the country.

Wizz Air commits to buy Airbus planes worth $13.7 billion

PARIS (Reuters) - Hungary's Wizz Air committed to buy 110 Airbus A321neo aircraft at the Paris air show on Thursday worth $13.7 billion at list prices as the Eastern European-focused budget airline continues to expand its network and capacity.

Exclusive: Apple mines big profits from Watch band

San Francisco (Reuters) - Nearly 20 percent of Apple Watch buyers are not only shelling out hundreds of dollars for the timepiece but are springing for a spare band too, giving the tech giant a profitable second dip into customers' wallets, according to data provided exclusively to Reuters.

Small U.S. frackers face extinction amid drilling drought

WEATHERFORD, Texas (Reuters) - Oil field work was coming in fast when GoFrac doubled its workforce and equipment fleet at the beginning of last year, just one of hundreds of small oil service companies thriving on the revival of U.S. drilling.

News Analysis: Greek Exit From Euro Appears Increasingly Likely

Economists and government officials in Europe have begun to accept that little more is to be gained in this struggle to get Greece to play by the rules.

Tsipras says 'blind insistence' on pension cuts would worsen crisis

BERLIN (Reuters) - The "blind insistence" on cutting Greek pensions will only worsen the country's already dire financial crisis, Greek Prime Minister Alexis Tsipras wrote in a German newspaper commentary on Thursday.

U.S. foreclosure activity up in May as bank repossessions rise

WASHINGTON (Reuters) - Bank repossessions rose again last month, driving overall U.S. foreclosure activity to a 19-month high on an annual basis, industry firm RealtyTrac said on Thursday.

China Nears End of the Rate-Cutting Cycle

Written by Yichao Wang, GEI Associate

According to China's National Bureau of Statistics, China's consumer-price index (CPI) rose 1.2% in May from a year earlier, slower than the 1.5% increase in April. The producer-price index (PPI) dropped 4.6% in May from a year earlier, extending declines of 39 consecutive months.

Fitbit IPO Prices at $20 a Share, Above Expectations

Fitbit Inc., the maker of wearable fitness-tracking devices, priced its initial public offering at $20 a share, above already raised expectations, according to a person familiar with the offering.

Exclusive: U.S. regulators detail alleged Fiat Chrysler recall failings

WASHINGTON (Reuters) - U.S. auto safety regulators have "tentatively concluded" that Fiat Chrysler Automobiles NV did not adequately remedy safety defects in a timely manner, notify car owners of recalls or keep federal officials informed about ongoing issues, according to an official document seen by Reuters on Wednesday.Â

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