U.S. stocks were set for a weak open Monday, as investors anxiously await Greek government leaders to reach an agreement on more budget cuts that are key to securing a second bailout and avoiding default in Greece.
Europe will again be at the center of investors' focus this week as the U.S. earnings season passes the halfway mark and there is little on the economic calendar to give the market direction.
Use the Reuters Breakingviews stress test calculator to calculate how the Target core Tier 1 capital ratio and sovereign haircut levels affect the amount of capital banks need to pass the stress test.
The European Central Bank, after two rate cuts and a series of unprecedented liquidity measures, will hold its fire this month, as it assesses the impact of those previous measures, analysts say.
European stocks posted the biggest weekly gain this year, sending the Stoxx Europe 600 Index to its highest level in six months, as manufacturing increased globally and the U.S. jobless rate fell to the lowest in three years.
The surprisingly strong U.S. jobs data, and the growing momentum of a 10-week stock market rally could act as a magnet for buyers, with little in the way of new economic reports in the coming week.
