Futures Slip as Greece Talks Remain in Focus
Stock index futures edged lower Tuesday, tracking struggling European markets lower after a handful of mixed earnings and amid ongoing uncertainty over Greek debt talks.
In Athens, protestors took to the streets to oppose austerity measures as leaders started another round of talks to secure a bailout and avert default.
A messy default in Greece could lead to problems for other euro zone countries and hinder the U.S. recovery.
Coca-Cola climbed after the beverage giant reported better-than-expected resultsand announced a new cost-savings program.
Yum Brands gained after the parent company of KFC
BP posted earnings slightly above forecasts and a better-than-expected dividend increase. Meanwhile, CEO Bob Dudley told CNBC that the firm's multi-million dollar disposal program—its effort to raise funds which will also help to cover the costs of the Gulf of Mexico oil spill—was on track.
And Toyota Motor edged higher after the Japanese automaker reported stronger-than-expected earningsand raised its annual forecast on cost cuts and Japanese government subsidies.
UBS slipped after the Swiss bank predicted further weaknessin investment banking and reported fourth-quarter profit that fell by more than 40 percent.
Disney and Hartford Financial are among companies slated to report after the closing bell.
On the economic front, December consumer credit numbers are out at 3 pm ET.
Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill before the Senate Budget Committee at 10 am ET. Investors will be on the lookout for a change in tone after last week’s strong jobs report.
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Coming Up This Week:
TUESDAY: 3-yr note auction, consumer credit; Earnings from Disney, Hartford Financial, Panera Bread
WEDNESDAY: Mortgage applications, oil inventories, Fed's Williams speaks, 10-yr note auction; Earnings from Sanofi, CVS Caremark, Sprint Nextel, Time Warner, Cisco, Groupon, Visa, WholeFoods
THURSDAY: BoE announcement, ECB announcement, jobless claims, wholesale trade, 30-yr bond auction; Earnings from PepsiCo, Rio Tinto, Vodafone, Credit Suisse, Sirius XM Radio, Dunkin' Brands, Petrobras, Activision Blizzard, Expedia, LinkedIn
FRIDAY: International trade, consumer sentiment; Earnings from Barclays
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