LONDON — European stocks fell and Wall Street was set for a modest open on Monday despite gains in Asian markets overnight.
KEEPING SCORE: In early trading, Germany's DAX lost 1.1 percent to 11,901.03 points and France's CAC 40 shed 0.8 percent to 5,048.05. Britain's FTSE 100 was down 0.1 percent at 7,014.63. On Wall Street, the futures for the Standard & Poor's 500 and Dow were both flat after both indexes rose On Friday.
GREECE FOCUS: In Europe, traders were looking to a meeting on Monday between the leaders of Greece and key creditor Germany for signs of progress in Greece's debt negotiations. The country is in talks with its European rescue lenders on what reforms it must make to be eligible to receive more loans. Although Greece faces a cash crunch in coming weeks, the talks have been slow and investors are hoping that the meeting between Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel can get them moving.
ASIA'S DAY: The Shanghai Composite Index rose 2 percent to 3,687.73 points and Tokyo's Nikkei 225 gained 1 percent to 19,754.36. Hong Kong's Hang Seng added 0.5 percent to 25,494.51. Benchmarks in Taipei, New Zealand and Singapore rose. Seoul's Kospi was unchanged at 2,036.59. India's Sensex shed 0.2 percent to 28,209.71, and Sydney and Bangkok also declined.
U.S. OPTIMISM: Investors will be looking at whether U.S. stocks can extend a strong run from last week, when they were boosted by a rebound in oil prices and earnings from Olive Garden owner Darden Restaurants and sportswear giant Nike. That came after the Federal Reserve implied at the end of its two-day meeting Wednesday that it was in no hurry to hike rates with U.S. economic growth and inflation low.
THE QUOTE: "On current statements, no central bank in the developed world is going to raise rates before June. In fact, the market believes no central bank will lift rates before September," Evan Lucas of IG Markets said in a report.
ENERGY: Benchmark U.S. crude shed 41 cents to $46.16 per barrel in electronic trading on the New York Mercantile Exchange. The contract soared $1.04 on Friday to close at $46.57.
CURRENCY: The dollar fell to 119.80 yen from Friday's 120.03 yen. The euro rose to $1.0898 from $1.0820.