NEW YORK ( TheStreet) -- The great Greek debt saga is at near panic mode (appropriately) with stocks down overseas, and I believe the following quote helps investors understand where things stand.

Yanis Varoufakis, Greece's Finance minister said today: "I am against increasing the corporate tax, but then again I am against raising the tax on hotels and against cutting the pensions of people who live below the poverty line. These issues are putting me and my government in an impossible position, having to make a bad choice among really hard, difficult bad choices."

Well, making a bad choice, or a series of bad choices is what got you here, so choose wisely. Greece maintains that its creditors are still pointing forth demands that it cannot agree to. Either way, the deadline for the 1.6 billion euro ($1.8 billion) debt repayment due to the International Monetary Fund is Tuesday. Buckle up.

Meanwhile, in China, the Shanghai Composite Index continues to get mauled, giving up 7.4% of its value today after yesterday's 3.5% beat down, as valuations continue to be stretched by high speculation and as those positions are being unwound due to a tightening of the leverage requirements.

Bloomberg reported that General Electric's (GE) healthcare finance unit has received multiple bids, which are believed to include bids from Capital One (COF), Apollo Global (APO), Ares Management (ARES), and Ventas (VTR). A sale is rumored to be able to bring in over $11 billion as GE - a holding of the Dividend Stock Advisor portfolio -- unloads GE Capital's businesses.

U.S. equity futures are a bit higher this morning, with gold down slightly and the dollar not meaningfully changed.

The earnings calendar is light today with Finish Line (FINL) being a notable earnings report this morning.

At 10 a.m. we will see the June University of Michigan Sentiment report, with expectations of 94.6.

Happy trading!

  • Spending by Japanese consumers increased for the first time in more than a year in May, with the labor market tightening. Household spending rose 4.8% in May from a year earlier, more than a median market forecast for a 3.4% gain. The jobless rate was steady at 3.3% in May, the lowest in 18 years and close to levels policymakers consider as near full employment. Job availability also improved to hit the highest level in 23 years, data showed on Friday.
  • Talks about Greece's bailout have been postponed to Saturday as the eurozone finance ministers group failed for the fourth time to reach a compromise with Greece. Greek PM Alexis Tsipras is likely to hold talks with German Chancellor Angela Merkel and French President Francois Hollande on Friday, a Greek official said.
  • Airbnb is on the cusp of agreeing financing worth $1.5 billion that would raise its valuation to $24 billion, the Financial Times reports. The company has become popular with Chinese tour groups, a demographic that is set to increase.
  • U.K. Prime Minister David Cameron was warned by European leaders that the European Union's values were "not for sale" as he presented his requests for reform for Europe ahead of an "in or out" referendum that is due to be held in Britain sometime in the next two years.
  • U.S. defense information technology SRA International is exploring the possibility of an IPO that would value it at around $2 billion including debt, Reuters reports. SRA's owner, private equity firm Providence Equity Partners, is working with investment bank Citigroup (C) on an auction for SRA, and has contacted other companies in the sector, as well as buyout firms, to gauge their interest, the report says.