U.S. stock exchange traded funds were poised for a lower open Monday as European governments pushed back a decision to provide a financial lifeline to Greece.
Dow futures slipped about 50 points in premarket trade while SPDR S&P 500 ETF (NYSEArca: SPY) shed 0.4%.
Also before the bell, ETFs that invest in European equities posted sharper declines with investors fixated on a confidence vote in George Papandreou, Greece’s prime minister. The government is trying to push through unpopular austerity measures. [Europe ETFs Fall as Spotlight Stays on Greece]
The dollar strengthened against the euro on Monday morning, another sign the so-called risk-off trade. PowerShares DB US Dollar Bullish (NYSEArca: UUP) rose fractionally in premarket. [Dollar, Euro ETFs Back for Technical Test]
ETFs that profit from gains in Wall Street’s “fear gauge” also rose after rallying last week. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX) climbed about 2% in Monday’s premarket. The exchange traded note follows futures based on the CBOE Volatility Index. [ETF Options Traders Position for Volatility, Weak Euro]
PowerShares DB US Dollar Bullish
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