After seeing notable strength in the previous session, stocks are likely to move back to the downside in early trading on Wednesday. The major index futures are currently pointing to a sharply lower open for the markets, with the Dow futures down by 107 points.
Renewed concerns about the financial situation in Europe are likely to contribute to any early weakness on Wall Street, with rising Italian and Spanish bond yields contributing to the downward momentum.
A new poll out of Greece showing the anti-bailout Syriza party in the lead in next month's elections has also led to renewed concerns about the outlook for the debt-plagued nation.
Disappointing guidance from Research in Motion (RIMM) has also generated some negative sentiment, with the Blackberry maker saying it now expects to report an operating loss for its first quarter. The company attributed the forecast of a loss to the competitive environment.
On the economic front, the National Association of Realtors is scheduled to release its report on pending U.S. home sales in the month of April. The pending home sales index is expected to rise by 0.5 percent.
by RTT Staff Writer
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