Stocks: 4 things to know before the open

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Wall Street trading is set to resume Tuesday after markets were closed Monday for Presidents' Day.

But it remains to be seen whether stock markets will surpass the record highs set last week.

Here are the four things you need to know before the opening bell rings in New York:

1. Greek tragedy: Greece is one step closer to being forced out of the eurozone after debt talks with its creditors collapsed Monday.

But investors are taking the news in stride.

European stock markets are mixed in afternoon trading. Greek stock markets took a dive but then recovered most of their losses.

U.S. stock futures are looking relatively stable.

Greece has to figure out a plan to pay its bills and debts in the coming months and years, but the country's prospects are looking increasingly grim.

Greece's €240 billion ($273.1 billion) bailout program -- which is keeping it afloat -- is set to expire at the end of February. Without a new agreement with creditors, Greek banks could lose access to cash from the European Central Bank, and Greece could be ultimately forced out of the eurozone.

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2. Ukraine's shaky ceasefire: The agreed ceasefire in Ukraine isn't being observed as fighting continues in Debaltseve in Eastern Ukraine.

Continued fighting between Ukrainian forces and pro-Russian separatists threatens to put further pressure on the Russian ruble and stock markets, as international powers may consider more sanctions against Russia.

"The ruble has appreciated in recent days due to recovering oil prices," said Adam Slater, senior economist at Oxford Economics, "We think that this rebound will be limited due to the tensions in eastern Ukraine."

The ruble is rising by about 1% versus the U.S. dollar as oil futures remain steady around $53 per barrel.

A ceasefire was due to be fully implemented Sunday, and all parties involved are supposed to start withdrawing their heavy weapons on Tuesday.

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3. The motion of Transocean: Watch trading in oil services company Transocean (RIG) Tuesday. Trading volume could be higher than normal after the company announced its CEO is leaving and it's planning to slash its dividend payments.

4. Earnings update: Goodyear Tire (GT) is reporting earnings before the opening bell. Retailer Fossil (FOSL) and restaurant chain Potbelly (PBPB) will report after the close.

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