NEW YORK ( TheStreet) -- What's the reverse of a surprise party? A no-surprise party? Well, it should come as little surprise that Greece missed its own deadline for coming to an agreement with its lenders, which fuels fears that Greece may default on its debt and be forced out of the eurozone, which helped the euro to weaken today.
European equity markets were trading slightly higher on the day, while U.S. futures were trending higher.
In Asia, the Shanghai Composite closed 4.7% higher as the roller coaster ride in China continues. Shares were aided by ho-hum PMI numbers in China, where the May reading came in at 50.2, up from April's 50.1 and still illustrative of slow growth that has the market excited, as it should provide further evidence that China's central bank needs to continue its stimulus programs.
Oil was also trading lower, dipping below $60 a barrel, as OPEC commented that its production would remain high.
The Wall Street Journal reports that Intel (INTC) will officially announce it is buying Altera (ALTR) for $54 a share today, for a total transaction value of $16.2 billion.
Today we will see earnings from NGL Energy Partners (NGL) and PVH (PVH).
On the domestic economic calendar we have the April personal income at 8:30 a.m. ET, with estimates looking for 0.3%. At 9:45 a.m. the Markit U.S. manufacturing PMI, May final, is released with consensus at 53.8. At 10 a.m., we are set to get the April monthly construction spending report with consensus at 0.7%, and at 10 a.m. we'll see May's ISM manufacturing report, with consensus resting at 52.