Greece on Brink of Financial Ruin as Emergency Summit Begins

An emergency summit is underway in Brussels today to discuss the next steps with Greece after its residents rejected terms of a bailout package Sunday. The finance ministers say they expect a new proposal from the Greek authorities. Ahead of the summit, German leaders said it sees no immediate reason to restart bailout negotiations after the referendum. Advanced Micro Devices (AMD) said it expects second quarter revenue to be lower than its previous guidance, citing weak demand for personal computers. The semiconductor company expects a revenue decline of 8% versus 3% previously. AMD shares were down 12% in the premarket. Advance Auto Parts (AAP) is set to replace Family Dollar (FD) in the S&P 500 Index. Today is the new deadline for Iran and 6 World Powers to reach an agreement on Iran's Nuclear Program.