Overnight Market Report - 9.00am
In US trade, markets retreated in a session of corrective consolidation after Friday’s big move.
A meeting of Greek political leaders to discuss reforms demanded by the troika in order for Greece to receive the second bailout package worth at least €130 billion was once again postponed to Tuesday. European leaders are now warning that time is running out for Greece, and have urged Greek politicians to accept the conditions. As a result, the market has traded relatively ‘risk off’.
Among the major averages, the Dow Jones Industrial Average was down 0.1% to close at 12845. The S&P was down a point at 1344, and the NASDAQ lost 0.1% to finish at 2902.
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