U.S. Index Futures Drop on Greek Deadlock With S&P 500 at Record

U.S. stock-index futures fell, after the Standard & Poor’s 500 Index closed at a record, as talks between Greece and its European creditors broke down.

Contracts on the Standard & Poor’s 500 Index expiring in March declined 0.2 percent to 2,088.5 at 9:36 a.m. in London. Futures on the Nasdaq 100 Index were little changed, with the underlying gauge at its highest level in almost 15 years. Dow Jones Industrial Average futures lost 25 points, or 0.1 percent, to 17,957. U.S. markets were closed for a holiday on Monday.

As officials negotiate the future of Greece’s bailout program, concern is rising that leaders on either side won’t reach a compromise. Discussions aimed at finding common ground between the Mediterranean nation and its creditors ended on Monday without breaking an impasse. With no deal, the government could run out of money by March and be forced to choose between breaking election promises or abandoning the euro.

Signs of easing tension between Greece and European leaders helped push U.S. equities to record levels last week. The route this year has not been easy the S&P 500 has rallied 5.1 percent in February after losing 3.1 percent in January for its worst month in a year. That evens out to a 1.9 percent gain for 2015, trailing most developed markets.

Source : Bloomberg