NEW YORK ( TheStreet) -- U.S. stock futures followed European markets lower Monday as uncertainty regarding additional aid for Greece continued to constrain the market. Futures for the Dow Jones Industrial Average were down by 63 points, or 58 points below fair value, at 11,875. Futures for the S&P 500 were lower by 7 points, or 7 points below fair value, at 1259, and Nasdaq futures were off by 10 points, or 9 points below fair value. Stocks ended last week on either side of the flat line as the market weighed mixed data against signs that Greece may be closer to getting a financial aid package. After failing to agree on specifics regarding a new aid package for Greece over the weekend, European finance ministers meeting early Monday delayed a decision on a set of rescue loans for the country.
Greece needs the next installment to avoid bankruptcy next month. The FTSE in London was losing 0.8%, and the DAX in Frankfurt was falling 1.1%. Hong Kong'sHang Seng declined 0.4% while Japan's Nikkei added 0.03%. Greece will likely remain the market's focus since there are no economic releases scheduled for Monday's session.
PNC Financial Services ( PNC)
agreed to purchase the U.S. retail banking unit of Royal Bank of Canada ( RY) for a price that represents a $112 million discount to the book value of Royal Bank's U.S. retail operations. Qatar Airways said it would order six Boeing ( BA) 777 jets with a value of $1.7 billion. Japanese electronics company Panasonic ( PC) said it expects a fiscal 2012 profit of 30 billion yen ($373.7 million), a decrease of nearly 60% from the prior year because of the March 11 earthquake and tsunami. The August crude oil contract was shedding $1.23 to trade at $92.17 a barrel. Gold for August delivery was down by $1.40 at $1,537.70 an ounce. The benchmark 10-year Treasury rose 9/32, diluting the yield to 2.915%. The dollar strengthened against a basket of currencies, with the dollar index up by 0.4%. . -- Written by Melinda Peer in New York.