U.S. stocks followed European markets lower on Thursday as a deadline approached in Greece's debt talks. Greece remained stuck in negotiations with its creditors over releasing more emergency funds ahead of a debt payment due Friday.
KEEPING SCORE: The Dow Jones industrial average slid 126 points, or 0.7 percent, to 17,951 as of 12:01 p.m. The Standard & Poor's 500 index lost 13 points, or 0.6 percent, to 2,102, and the Nasdaq composite lost 24 points, or 0.5 percent, to 5,076.
LULL: Trading in the U.S. stock market has turned quiet over the past month as economic growth and corporate profits have looked flat. "It's a stone's throw from an all-time high, and it's also a stone's throw from a yearly low," said Hank Smith, chief investment officer at Haverford Trust.
MERGER TALKS: A report that Dish Networks is talking to T-Mobile US about a possible merger sent both companies' stocks up in early trading. The Wall Street Journal said that the two sides have yet to nail down crucial details, including a purchase price. Dish's stock jumped $4.10, or 6 percent, to $74.91, while T-Mobile's surged $1.57, or 4 percent, to $39.86.
JAMMED: Before the market opened, J.M. Smucker reported a loss in its latest quarter even though sales climbed. The maker of Folger's coffee said higher prices for coffee beans and a strong dollar pinched results. Smucker's stock fell $3.04, or 3 percent, to $11.15.
EUROPE: Major European markets finished broadly lower. Germany's DAX sank 0.7 percent, while the CAC-40 in France fell 0.9 percent. The FTSE 100 index of leading British shares lost 1.3 percent. Greece's main index slumped 1.3 percent.
GREECE AGAIN: Greece remains at an impasse with its creditors over key steps after a meeting between Prime Minister Alexis Tsipras and the head of the European Union's executive arm failed to yield an agreement to release vital bailout loans. The two sides remain far apart on issues such as sales taxes and pensions.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.