NEW YORK (TheStreet) -- U.S. stock futures are suggesting Wall Street will open lower Monday after weekend anti-austerity votes in Greece and France created further uncertainty on whether Europe can crawl its way out of the debt crisis.
European shares were lower after Sunday's election in Greece resulted in a split Parliament in which no party looked like it would be able to form a government.
"As for the Greek elections, they resulted in complete uncertainty with the possibility of another election taking place in the near future in order to try and put in place a government that can actually have some modicum of control," said Gary Jenkins, managing director of Swordfish Research, The Associated Press reported.
In France, Socialist Francois Hollande defeated incumbent Nicolas Sarkozy in the race for president.The election had turned into a referendum on austerity measures championed by Sarkozy and his close partner, German Chancellor Angela Merkel, as they sought to lead the eurozone out of its debt crisis. Merkel suffered her own setback in regional elections on Sunday. In Asia, Japan's Nikkei 225 index dropped 2.8% to close at 9,119.14, the index's lowest close in three months.
Vladimir Putin was sworn in Monday as president of Russia, his third term. Putin has ruled Russia since 2000, first as president and then during the past four years as prime minister. His new, six-year term keeps Putin in power until 2018. He also has an option to run for a fourth term.
Micron Technology (MU) won the right to negotiate exclusively to buy Elpida Memory after offering more than 200 billion yen ($2.5 billion) for the bankrupt Japanese chipmaker, Reuters reported, citing a source with direct knowledge of the deal.
DigitalGlobe (DGI) on Sunday rejected a $792 million takeover offer from satellite imagery rival GeoEye (GEOY), saying the hostile bid undervalued the company
The Avengers made $200.3 million domestically in its debut, setting a new record. The movie, distributed by Walt Disney (DIS), breaks the previous record of $169.2 million for the debut of last year's Harry Potter finale.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV