May 14, 2012-Euro Debt Concens Push Stocks Lower

The plethora of worries plaguing the eurozone has apparently found their way across the Atlantic, as indicated by the U.S. index futures, which point to a lower opening. In the absence of any major domestic economic catalysts, traders may stay glued to the events that unfold in the Eurozone debt crisis saga, as the region battles its debt woes. A key Eurogroup meeting and the developments in Greece to break the political impasse could be the focus of the markets in today's session. U.S. stocks extended their slide in the week ended May 11th, as the political impasse in Greece, a lack of any major domestic economic catalysts and a couple of insipid corporate tidings spooked markets. Manufacturing and retail sales are among the key economic reports due for release in the unfolding week. Traders are expected to closely track the results of the manufacturing surveys for May by the New York Federal Reserve and the Philadelphia Federal Reserve, the Federal Reserve's industrial production report for April, the Commerce Department's retail sales report for April, the FOMC minutes and the weekly jobless claims report.