Stocks consider Greece deal

@CNNMoneyInvest February 21, 2012: 9:07 AM ET
premarkets

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NEW YORK (CNNMoney) -- U.S. investors finally can consider an actual deal to help Greece avoid default when trading begins Tuesday.

S&P 500 (SPX), Dow Jones industrial average (INDU) and Nasdaq (COMP) futures were slightly higher. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

After weeks of negotiations and market speculation, eurozone finance ministers completed a deal early Tuesday that will provide Greece with the €130 billion in funding it needs to avoid default next month.

For its part in obtaining this second bailout plan, Greece needs to make severe budget cuts that reduce its debt to a figure 121% of its gross domestic product by 2020. Currently, debt is 160% of GDP. (CNN: Eurozone approves new bailout for Greece.)

In the United States, retailers including Dow component Wal-Mart Stores (WMT, Fortune 500) released their quarterly results..

U.S. markets were closed Monday for Presidents Day. Shares finished mixed Friday with the Greek situation still unresolved.

World markets: European stocks were lower in afternoon trading. Britain's FTSE 100 (UKX) eased 0.3%, the DAX (DAX) in Germany dipped 0.7% and France's CAC 40 (CAC40) shed 0.6%.

Perilous road for European stocks

Asian markets ended mixed. The Shanghai Composite (SHCOMP) gained 0.8% and the Hang Seng (HSI) in Hong Kong ticked up 0.3%, but Japan's Nikkei (N225) lost 0.2%.

Companies: Wal-Mart reported quarterly earnings and revenue that fell short of the consensus of analysts surveyed by Thomson Reuters. Shares eased about 1% in premarket trading.

Home Depot (HD, Fortune 500) reported fiscal fourth-quarter earnings and revenue that topped analysts' expectations. The home improvement retailer cited favorable weather as a reason for its strong performance, saying sales at U.S. stores open a year or more climbed 6.1%. Home Depot stock rallied 3.5% in premarket trading.

Macy's (M, Fortune 500) reported better-than-expected earnings and sales that were in line with forecasts. Shares rose 4.5% in premarket trading.

Dell (DELL, Fortune 500) reports its quarterly results after the bell. The computer maker is expected to report earnings of 52 cents per share, down slightly from 53 cents a year ago, on revenue of $15.97 billion. Competitor Hewlett-Packard (HPQ, Fortune 500) is scheduled to report earnings on Wednesday.

Wynn Resorts (WYNN) shares climbed 5.5% in premarket trading, after reports claimed that the company will buy out Japanese gambling tycoon Kazuo Okada's 20% stake at a big discount.

Currencies and commodities: The dollar was little changed against the euro and the British pound, but rose versus the Japanese yen.

Oil for March delivery, in its final day of trading, rose $1.49 to $104.73 a barrel. The more active April contract gained $1.29 to $104.89 a barrel.

Gold futures for April delivery climbed $21.60 to $1,747.70 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.04% from 2.01% late Friday.  To top of page

Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
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