Stock index futures dipped Monday, tracking losses in Europe amid concerns over whether Greece can avoid a messy default.
Greece failed to meet another deadlineMonday to strike a deal to secure the 130 billion euro ($170 billion) rescue, pushing the debt-ridden nation closer to a default, which could threaten other euro zone nations.
Last week, the Dow crossed into bull territory thanks to gains driven by the government employment report, but investors expressed skepticism over whether the rally seen at the start of the year could continue.
In company news, General Motors aims to raise its profit margin to 10 percent over the next few years, up from the current margin of about 6 percent, Daniel Ammann, chief financial officer, told the Wall Street Journal in an interview.
Among earnings, Hasbro posted earnings that edged above estimates. This comes after the toymaker last month expected lower-than-expected sales for the holiday quarter, citing weak post-Thanksgiving demand in the United States and Canada.
Humana reported a gain in earnings that came in line with expectations. The health insurer also raised its full-year profit forecast. Still, shares of the firm slumped in pre-market trading.
Yum Brands is slated to post earnings after-the-bell tonight.
Facebook plans to start showing advertisementsto users on mobile devices in an effort to find a new source of revenue ahead of its heavily-anticipated IPO, the Financial Times reported on Monday.
The paper also reported that Glencore will pay an 8 percent premiumto seal its merger with Xstrata, more than initially expected.
There are no economic data of note on Monday’s agenda.
U.S. Federal Reserve Bank of St.Louis President James Bullard speaks on "Inflation Targeting in the U.S." before the Union League Club of Chicago.
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Coming Up This Week:
MONDAY: Earnings from Yum Brands
TUESDAY: 3-yr note auction, consumer credit; Earnings from BP, Coca-Cola, Toyota, UBS, 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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