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MADRID (MarketWatch) — U.S. stock futures pointed to a weaker open for Wall Street on Monday after a win by Greek opposition party Syriza in that country’s general election triggered a move out of perceived riskier assets, such as stocks
Futures for the Dow Jones Industrial Average DJH5, -0.25% fell 97 points, or 0.6%, to 17,491, while those for the S&P 500 SPH5, -0.27% slipped 9.2 points, or 0.5%, to 2,034.70. Futures for the Nasdaq 100 index NDH5, -0.19% fell 13.5 points, or 0.3%, to 4,253.50.
The futures could still make large moves from their current levels, especially after the European markets open, but if the losses hold then U.S. shares would extend their retreat from a mostly down session Friday, when the Dow industrialsDJIA, -0.79% ended 0.8% weaker, while the S&P 500 SPX, -0.55% fell 0.5%, but the Nasdaq Composite COMP, +0.16% edged up 0.2%.
News that Greek opposition party Syriza had won a general election there, raising the possibility that Greece could lose its international assistance or even leave the eurozone, appeared to weigh on the U.S. futures.
Uncertainty arising for the Greek results had a muted effect on Asia markets, but European stock futures were pointing to a weaker open for those markets. Meanwhile, the euro hit fresh lows of more than a decade late Sunday. The currencyEURUSD, +0.27% was last trading around $1.1195, but a session low so far has seen it drop to $1.1098 against the single currency.
No data is scheduled for Monday, though a Federal Open Market Committee meeting will stand out midweek. D.R. Horton Inc. DHI, -2.49% will report ahead of the bell, while and Microsoft Corp. MSFT, +0.11% and Texas Instruments Inc.TXN, +0.16% are coming after the close.
Across other markets, gold for February delivery GCG5, -0.68% rose 50 cents to $1,293.10 an ounce. London-traded copper hit a 5 1/2 year low in Asia, hit by a stronger dollar and continued concerns about Chinese demand for the commodity.
Against the dollar, the yen USDJPY, +0.37% weakened to ¥118.17, compared with ¥118.05 at Friday’s Tokyo stock close.
Some Japanese export-related stocks saw substantial losses, with Mazda Motor Corp. 7261, -4.06% tumbling 4.1%, Olympus Corp. 7733, -1.81% down 1.8%, Honda Motor Co. Ltd. 7267, -1.36% off 1.4%, and Sharp Corporation 6753, -1.33% lower by 1.3%.
South Korean markets also closed in negative territory, with the Kospi Composite Index SEU, -0.02% down less than 0.1%.
However, Chinese stocks continued to advance after the central bank’s recent moves to inject liquidity into the markets. Shanghai markets extended a five-day winning streak and rose to its highest level in more than five years, as the Shanghai Composite Index SHCOMP, +0.94% settled 0.9% higher at 3,383.18.
Hong Kong stocks also received a boost from their mainland counterparts, with the Hang Seng Index HSI, +0.24% rising 0.2%, also up for a fifth day in a row.
Australian markets were closed for a national holiday on Monday.
French prisons have become a breeding ground for Islamist extremism partly because they mistreat the Islamic faith.
QUOTATION OF THE DAY
"The middle has basically stayed the same; it hasn't improved. You've got an iPhone now and a better TV, but your median income hasn't changed. What's really changed is the penthouse has become supernice."
President Obama came to an agreement with Prime Minister Narendra Modi of India on nuclear energy, renewed a 10-year defense pact, agreed to joint military hardware production and resolved to work with India to reduce the threat of greenhouse gas emissions.
The mayor of Glendale, Ariz., which is hosting the Super Bowl, is not shy about criticizing the costs involved, particularly since the city has a reputation for betting big on sports - and paying a price for it.