WEDNESDAY MORNING’S TOP STORIES
By MarketWatch
Premarket news
U.S. consumer inflation rose by 0.2% in May, while the Empire State manufacturing index slipped below zero to -7.8 in June. Read about consumer inflation | Read about Empire State manufacturing
Indications: U.S. stock futures drop on Greece, growth worries
U.S. stock futures were pointing to opening losses for Wall Street Wednesday, as worries about global growth and the failure of European officials to agree on a solution to the Greek debt crisis spooked investors and the latest U.S. economic data also weighed on sentiment.
Read Indications for more U.S. market action
Europe Markets: Greece, French banks, H&M drive Europe south
European stock markets traded mostly lower with debt worries sinking Greek banks. French banks were off after being put on review for a downgrade by Moody’s Investors Service, while Swedish retailer Hennes & Mauritz fell after sales figures disappointed.
Read European Markets
London Markets: Banks, Experian and Glencore decline in London
Stocks in London were mostly lower on Wednesday with shares of Experian, Glencore International and U.K. banks all under pressure.
Read London Markets
Asia Markets: Hong Kong falls as banks sink, but Japan rises
Hong Kong stocks declined, as banks suffered from the double whammy of a reserve-requirement hike and concerns over Greece, though Japanese stocks rose, helped by exporters.
Read Asia Markets
Asia Stocks to Watch: S&P’s cuts outlook on China land developers
Standard & Poor’s lowered its outlook for Chinese real-estate developers, saying the conditions have become “increasing challenging” in view of tightened credit and restrictive government policy.
Read about S&P and China
Currencies: Dollar rallies; euro sinks on Greek debt concerns
The dollar rose against most major counterparts, getting a lift against the euro amid concerns about Greece’s sovereign debt woes.
Read more on Currencies
Futures Movers: Oil futures drop as dollar strengthens
Crude oil futures lost ground as the dollar strengthened, ahead of the release of a closely-watched inventory report.
See Futures Movers
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