U.S. stocks open lower on Greece concern
Xinhua, June 12, 2015 Adjust font size:
U.S. stocks opened lower on Friday as investors optimism faded regarding a resolution of the Greek debt crisis.
The IMF said Thursday its delegation had halted negotiations in Brussels and flown home because of "major differences" with Athens.
European stocks traded lower on Friday, with the ATHEX Composite off 5 percent.
Credit rating agency Standard & Poor's late Wednesday further downgraded Greece's credit rating into junk territory to CCC- from CCC+ with a negative outlook.
On the economic front, the Producer Price Index for final demand rose 0.5 percent in May, seasonally adjusted, topping expectations, the U.S. Labor Department said Friday.
Later in the morning the Michigan consumer sentiment figure for this month is due.
Shortly after the opening bell, the Dow Jones Industrial Average decreased 55.85 points, or 0.31 percent, to 17,983.52. The S&P 500 was down 7.26 points, or 0.34 percent, to 2,101.60. The Nasdaq Composite Index lost 19.30 points, or 0.38 percent, to 5,063.21.
U.S. stocks closed higher on Thursday as investors cheered a good retail sales report while remaining cautious following news on the Greece debt talks. Endi