US STOCKS-Wall St falls as Greek deadline looms; indexes up for week

viernes 19 de junio de 2015 16:40 GYT
 

* 8point3 shares debut below IPO pricing

* S&P 500 posts largest weekly gain since late April

* Indexes off: Dow 0.56 pct, S&P 0.54 pct, Nasdaq 0.31 pct (Updates to market close)

By Rodrigo Campos

June 19 (Reuters) - U.S. stocks fell on Friday ahead of a summit next week that could decide whether Greece will need to print its own currency and ditch the euro.

Euro zone leaders are scheduled to meet on Monday night in a last-ditch effort to reach a deal with Athens. As bank withdrawals across Greece ballooned to about 4.2 billion euros this week, the European Central Bank boosted its emergency funding for Greek banks.

Friday's decline in stocks "has to do with the meeting on Monday," said King Lip, chief investment officer at Baker Avenue Asset Management in San Francisco. "It's sort of the last lifeline they are going to throw out to Greece and people are selling ahead of that because of the uncertainty."

Lip said, however, that any sharp selling because of developments on Monday could be yet another buying opportunity for investors in U.S. stocks.

"If Greece leaves the union, that removes an uncertainty and is actually good for the markets over the long run; if there is a resolution, that is also good," said Lip. "In some way, whatever happens on Monday is a win-win and (a market selloff) is a buyable dip."   Continuación...