Futures Pointing To Early Pullback On Wall Street

(RTTNews) - After seeing substantial volatility over the course of the two previous sessions, stocks may move moderately lower in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 56 points.

Uncertainty about the situation in Greece may weigh on Wall Street following yesterday's mixed comments regarding the embattled nation's negotiations with its creditors.

While Greek Prime Minister Alexi Tsipras told reporters his government is close to an agreement to secure funding from its lenders, European Commission Vice President Valdis Dombrovskis said the two sides still have a ways to go.

The outcome of a meeting of G7 finance ministers in Dresden today and tomorrow could shed more light on how Greece's international creditors seek to end the impasse.

The downward momentum on Wall Street also comes on the heels of a sell-off in China, as the Shanghai Composite Index plummeted by 6.5 percent.

The weakness was seen as a reaction to announcements by several brokers concerning tightening requirements on margin financing ahead of an IPO influx next week.

On the U.S. economic front, the Labor Department recently released a report showing an unexpected uptick in initial jobless claims in the week ended May 23rd.