Stocks are down slightly after closing near long-term highs yesterday.
They're also digesting political and economic news from Europe, where the Bank of England increased its asset-purchase program and the European Central Bank left its key lending rate unchanged. The ECB also has a press conference at 8:30 a.m. ET, where the Greek debt situation will likely be discussed.
The Dow Jones Industrial Average, S&P 500, and Nasdaq are down by less than 0.1 percent in pre-market trading. All three are at or near all-time highs, with the Nasdaq back to levels last seen in early 2001. Stocks are incrementally higher in Europe, with the German DAX up by about half a percent. The U.K.'s FTSE 100 and France's CAC 40 are also modestly higher.
Asian markets dropped marginally, following big gains the previous session. There were no major headlines or economic data out of the region overnight.
Another big event that could impact sentiment is the release of initial jobless claims in the U.S. at 8:30 a.m. ET.
Commodities are mixed, with oil and silver increasing by less than 1 percent. Copper and agricultural goods, however, are down. Gold is up by less than 0.2 percent.
Foreign exchange is mildly bearish, with the euro, Australian dollar, and Canadian currency down slightly against the greenback. But so-called safety currencies such as the yen and Swiss franc are down as well.
In company-specific news, Cisco Systems was the big earnings report after the bell last night. Results beat estimates on the top and bottom lines as spending by big telecom firms rebounded. Shares had been climbing into the release and fell slightly after the news became public.
Diamond Foods cratered more than 40 percent after announcing that it would restate financial statements for the last two years. The news vindicated fears by some traders that the company hadn't properly accounted for its transition from a non-profit cooperative to a public company.
Groupon also dropped 11 percent after announcing a surprise loss for in its first quarterly release as a public company. Akamai Technology is rallying 14 percent on better-than-expected earnings and revenue.
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