Stocks Modestly Lower as Greece Remains in Focus

U.S. Market
Stocks were modestly lower this morning as Greece remained in focus.

Negotiations over Greece’s debt appeared to be deadlocked after the Greek government rejected a proposed six-month extension to the current bailout. Greek stocks fell on the news while yields on Greek bonds soared.

At midday the Dow, S&P 500 and Nasdaq were each down less than 0.1%.

Stocks on the Move
Shares of Medtronic (MDT) were up 3.2% after the firm announced better-than-expected results. The firm said that excluding one-time items it earned $1.01 per share, above the 97 cents a share expected by analysts. The outperformance was driven by a 8% boost in U.S. revenue.

Foreign Markets
European markets were mixed as investors mostly shrugged off Greek worries. In late trading, the FTSE 100 was up 0.6%, the Paris CAC was unchanged while Germany’s DAX was down 0.3%.

Asian shares were also mixed. The Shanghai Composite was up 0.8%, the Hang Seng was 0.2% higher while the Nikkei 225 was off 0.1%.