Greek Austerity Deal, Good Jobs News Sends Futures Higher

[Stocks-to-Watch]

Stock futures had been trading in negative territory early this morning, but two key pieces of news that came in around 8:30 a.m. reversed the momentum. The government announced that jobless claims fell by 15,000 last week to 358,000, another strong reading. And Greek leaders came to a deal on austerity measures, at least in principal, that could keep the country from defaulting on loans that come due next month.

Dow futures rose 11 points to 12,854; S&P 500 futures rose 1.7 points to 1,348.7.

Pepsico (PEP) fell 2.6% after releasing disappointing earnings projections. Groupon (GRPN) fell 11% after posting an unexpected loss. Diamond Foods (DMND) plunged 40% after the company’s audit revealed problems, and the board removed the CEO and CFO. Visa (V) rose 3.9% after beating earnings expectations.



Original Article Source by Barrons.com