Stock News

U.S. Stock Futures Decline on Greece Concerns

DEVELOPING STORY:

*US Stocks Open Lower

*DJIA Falls 61; Exxon Mobil, Chevron Down Most

*S&P 500 Down 4; Energy Stocks Fall Most

*Nasdaq Composite Falls 2

MORE TO FOLLOW.

Earlier:

U.S. stock futures fell Wednesday, weighed down by declines in European stocks as investors continued to eye developments between Greece and its creditors.

Dow Jones Industrial Average futures slipped 38 points, or 0.2%, to 17755. S&P 500 futures fell three points, or 0.2%, to 2059 and Nasdaq-100 futures lost three points, or 0.1%, to 4273. Changes in stock futures don’t always accurately predict moves in the stock market after the opening bell.

Greece’s new government wants to ease conditions on its bailout program. The current bailout is due to expire at the end of the month. The Eurogroup of finance ministers meets Wednesday in an emergency session to discuss Greece.

France’s CAC 40 fell 0.4% and Germany’s DAX lost 0.2%. The Stoxx Europe 600 index declined 0.3%.

“The constant political interplay in Europe winds up playing considerable tug of war on sentiment,” said Jack Caffrey, equity portfolio manager at J.P. Morgan Private Bank. “Markets prefer greater certainty,” he added.

Stocks have seesawed this year, with the Dow up just 0.3% in 2015 so far and 1% below its record of 18053.71, through Tuesday’s close. The S&P 500 is up 0.5% for the year and remains 1.1% below its closing high of 2090.57. Headlines about Greece’s debt negotiations have led to swings in U.S. stocks lately, even though many investors believe a deal will be reached. The prospect of an eventual interest-rate increase in the U.S. is also adding to volatility.

In commodity markets, crude-oil futures fell 0.2% to $ 49.90 a barrel. Gold futures added 0.3% to $ 1236.30 a barrel.

Treasury prices rose slightly, pushing the yield on the 10-year note down to 1.987% from 1.991% on Tuesday.

Among individual stocks, Wal-Mart Stores Inc. said Wednesday it will invest about 340 million Canadian dollars ($ 270.1 million) to expand in Canada, building 29 new supercenters and expanding its distribution network. Shares fell 0.7% in premarket trading.

Akamai Technologies Inc. said Wednesday its fourth-quarter earnings rose 21% on broad revenue growth. Shares rose 4.5% premarket.

Time Warner Inc. said revenue slipped 1% in its December quarter. The company also raised its quarterly dividend by 10% to 35 cents. Shares rose 1% in premarket trading.

Write to Saumya Vaishampayan at saumya.vaishampayan@wsj.com

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