Stocks (^GSPC) in the U.S. are not joining in a big global market selloff after Greek voters said "no" to new austerity measures demanded by creditors. The vote has increased fears Greece will be forced to exit the Euro zone.
Yahoo Finance's Aaron Task indicates that while U.S. stock futures plunged on the news, the reaction has been much more muted since the opening bell.
"It's a worry but it's not a 'Lehman moment,' as some people thought it might be," he says. "It's 'contained bloodshed,' I would call it. It's not a 'Katie bar the door' kind of wild selloff, but it's early in the day and early in this process."
Task points out one reason why U.S. investors might not be too panicky over the Greek situation is the possibility it might lead the Federal Reserve to hold off on raising borrowing costs.
"The Fed is watching these developments very closely," he notes. "And so strength in the dollar and possible 'Grexit' and the possible ramifications of that-- one more reason why the Fed may delay any rate hike."
Task adds he's keeping his eye on the July 20th "new" new deadline in this saga. That's when the next big Greece debt payment to the EU is due.
Along with Greece, another topic on many investors' minds is second quarter earnings season, which kicks off this week. Alcoa (AA), Pepsi (PEP) and Walgreens (WBA) will be the first big names to report.
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eBay (EBAY) The stock is up in the pre-market. Paypal CEO Dan Schulman tells the Financial Times his firm will be on the hunt for international acquisitions once it is spun off from eBay later this month. Schulman says he will make acquisitions a priority in order to drive growth and keep competitors at bay.
Humana (HUM) Shares are higher ahead of the bell. It was announced over the holiday weekend that the insurance company is being bought by larger rival Aetna (AET) for $37 billion. However, today Humana is warning second quarter and full year profit will be well below analysts' estimates.
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