TMS: Futures point to lower U.S. markets; Canadian dollar down
TORONTO — The futures market is pointing to a lower open for U.S. stock markets after they were closed Monday for the Memorial Day holiday.
The expected move comes as European markets move lower with concerns over Greece’s debt crisis overshadowing news from China of support for new infrastructure projects.
Worries persist that Greece might miss looming IMF repayments if it fails to receive bailout funds from creditors demanding it outline reforms and promise to meet cost-cutting targets.
In corporate news, Charter Communications is spending US$55.33 billion to acquire Time Warner Cable in a cash-and-stock deal that would create one of the largest pay-television and broadband operators in the U.S. As part of the agreement, Charter will also buy Bright House Networks for more than US$10 billion.
In commodity markets, the July oil contract was down 39 cents at US$59.33 in trading in New York.
The Canadian dollar was down 0.34 of a U.S. cent at 80.87 cents.
