Stocks Weaker Before Jobless Claims, Q4 Productivity

Equity markets are in the red across the globe as investors become increasingly concerned that the Greek debt tragedy could spread to other countries in the euro zone.

In the US futures are sharply lower. The Dow looks to open 48 points lower to 10,193 while futures on the S&P 500 are off 5.90 points to 1,090.50.

“The US$ index is stronger this morning, as the mood is definitely ‘risk off’ with global equity markets selling off,” said Benjamin Reitzes from BMO. “The major currencies are all weaker against the greenback, except the yen which is also benefiting from the shift away from risk.”

Commodities are also clearly heading downwards. WTI Crude oil down 71 cents to $76.27 per barrel and Spot Gold is trading $6.17 lower to $1,103.63.

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