Markets are making some strange moves this morning.
They're heading in the opposite direction to what you would expect.
Here are the four things you need to know before the opening bell rings in New York:
1. Greek drama: European markets are pushing higher in early trading, despite the fact that Greece and its creditors were unable to reach a deal on the country's debt crisis Thursday. Traders appear to be taking the news in their stride as they hope for a last-minute deal at a meeting of top EU leaders Monday.
Without an agreement very soon, Greece could miss a payment to the International Monetary Fund due at the end of the month, making it the first developed country to ever default on IMF debt.
And there are concerns that Greek banks will continue to bleed deposits as account holders fear the country may fall out of the eurozone.
2. Chinese correction: The main Chinese stock markets in Shanghai and Shenzhen have officially entered correction territory, with each of the key indexes down by about 13% over the last few days.
Investors have grown increasingly wary of what many analysts describe as a bubble.
The pain was most acute on Friday, when the Shanghai Composite shed 6.4% and the Shenzhen A Share index dropped by 5.9%.
3. Calm in the U.S.: U.S. stock futures are looking remarkably placid despite the turmoil overseas.
The Nasdaq closed at an all-time high -- 5,132.95 points -- Thursday after surging 1.3%. It also set an intraday record of 5,143.32, topping the previous all-time high of 5,132.52 from more than 15 years ago.
The Dow Jones industrial average and S&P 500 also jumped by 1% on Thursday.
Related: Nasdaq closes at record high
4. Market movers -- ConAgra, Macerich: ConAgra Foods (CAG), a Nebraska-based food company, saw a 7% jolt in its stock in extended trading after hedge fund JANA Partners announced it bought 7.2% of the company's shares.
In a disclosure filed with the SEC, JANA Partners said ConAgra's share are "undervalued and represent an attractive investment opportunity."
ConAgra is behind brands including Orville Redenbacher popcorn and Reddi-wip whipped cream.
Shares in Macerich Co (MAC), which owns and operates regional shopping malls in the U.S., dropped by 6% in extended trading after local authorities gave it approval, along with a partner, to revamp The Gallery mall in Philadelphia. The redevelopment will reportedly cost well over $300 million.
Correction: An earlier version of this article incorrectly stated that ConAgra is based in Nevada. Its headquarters is in Omaha, Nebraska.
