(MENAFN- ProactiveInvestors) U.S. stocks were slightly lower in early trading Wednesday as Greece worries about a debt deal weighed on investors.
The finance minister of Greece is meeting with his eurozone counterparts today in Brussels where he is expected to propose a four-pillar overhaul of his country's current bailout program. On Tuesday US stocks recorded sizable gains erasing losses from the previous two sessions with the Dow jumping 140 points on hopes for a Greek debt deal.
On the economic calendar in the US today the only government report comes at 2:00pm ET when the Treasury issues the January budget statement with forecasts calling for a $20 billion deficit.
Oil prices were volatile this morning ahead of supply data last down 27 cents at $49.76 a barrel in New York again dropping below the $50 a barrel mark. The International Energy Agency said yesterday that ample global supplies would still swell world inventories before investment cuts begin to significantly dent production.
Gold futures rose $3 to $1234 an ounce as investors shied away from risk.
In corporate activity () has become the first US company to have its stock close with a market value above $700 billion after shares surged yesterday following news that it has signed a partnership with First Solar () to build an $850 million solar energy farm in California.
() topped profit estimates by 4 cents today while revenue also came in above forecasts though it said it expects a "challenging and volatile" macroeconomic environment this year.
() cut its guidance for the year citing higher-than-expected expenses and softer than anticipated sales in January and February. The company also announced the retirement of its CFO Charles Turner.
After the closing bell Tesla () Cisco () and Whole Foods (NYSE:WFM) are slated to report quarterly results. Tesla's CEO Elon Musk is reportedly prepared to fire overseas executives amid weak Chinese sales according to a Reuters report.
In other news () is buying Eat24 for $134 million as competition for online takeout orders heats up. Chico's FAS () is reportedly in talks to be acquired by private equity firm Sycamore Partners in a deal valued at more than $3 billion.
() said it has agreed to buy EnvisionRx a pharmacy benefits manager for about $2 billion. The target company is a portfolio company of private equity firm TPG.
European markets were lower today led by a drop in Greek shares while Asian stocks finished mixed.
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