U.S. stocks were down Monday, as investors wait for the final details of Greece’s bailout extension.
News of the extension pushed the Dow and S&P 500 to record closes Friday, when it was announced that Euro zone finance ministers had agreed to continue the bailout process through June. The deal is contingent, however, upon Greece submitting a list of reform proposals today.
Back here in the States, the week’s highlight will be Fed Chair Janet Yellen’s two-day testimony in front of Congress on Tuesday and Wednesday. Yellen testifies before the legislative body on a semi-annual basis, and investors will watch her words carefully for any signs of impending interest rate hikes.
Manufacturing and home sales data are also due during this coming week.
Here are the numbers from Wall Street on Monday:
Dow Jones Industrial Average: 18,100.60 (-39.84)
NASDAQ: 4,957.56 (+1.59)
S&P 500: 2,107.99 (-2.31)