Stock futures pared early losses Monday after Sunday's elections in France and Greece rattled investors' confidence.
Dow futures were off 41 points. Nasdaq 100 futures traded down 8.25 points and S&P 500 futures dipped 4.2 points.
Voters in France dumped President Nicolas Sarkozy for socialist
candidate Francois Hollande. Hollande ran in opposition to the austerity
measures backed by Sarkozy, calling for higher taxes to support growth
and more involvement from the European Central Bank.
In Greece's parliamentary elections, 60% of the popular vote went to
fringe parties, but fell short of
producing a clear majority. The vote
put the country's stance on austerity programs in doubt.
In stocks, BroadSoft (BSFT)
dropped 17% ahead of the opening bell. The communications software
provider reported first-quarter revenue and adjusted earnings above
analyst consensus views. The company raised its full-year earnings
guidance, but offered second quarter revenue guidnace below expecations.
Leaders were mostly quiet ahead of the open.
TJX (TJX),
owner of the TJ Maxx and Marshall's chains, climbed 2% ahead of the
open. The IBD 50 stock ended last week just below a fresh high atop a
solid run following a rebound from 10-week support in December.
Colombia-based oil producer Ecopetrol (EC)
pulled back 3% in premarket trade. Also an IBD 50 stock, it reversed in
heavy trade off a new high last week, after rebounding from support at
its 10-week moving average.
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