On returning from the Memorial Day holiday, US stocks look set to follow European markets lower on Tuesday’s open. Political uncertainty in Greece and Spain as well as a surging US dollar are undoing any benefits for global growth from extra Chinese government stimulus announced at the weekend. Greece’s interior minister has said the country will be unable to pay its debt payments to the IMF in June without financial aid. The Greek government official comments could be hard-negotiating tactics for coming to an agreement over the terms of the bailout package with the Eurozone. The market reaction on Tuesday is more consistent with a belief Greece maybe on the cusp of default. There may be some in Germany happy to see Greece ‘fall by the euro wayside’, but a general desire amongst other nations to keep stability within the Eurozone could see some last-minute, perhaps temporary bailout deal agreed. After hearing about anti-austerity rumblings in Portugal last week, a very definite showing of voter-support for anti-austerity parties was seen from Iberian cousins in Spain. The majority of the incumbent Popular Party that presided over high unemployment and harsh anti-austerity measures was undone by newcomers Podemos and Ciudadanos in regional and local elections. Local election results suggest Spanish voters are not so much concerned by the success or failure of Syriza in Greece, they just don’t want austerity at home. China will cut import duties by as much as 50% to encourage domestic consumption and transform its economy. The measure should be a strong positive for exporters in the US targeting the Chinese market, notably auto-makers and luxury fashion retailers. The Chinese government is also seeking to drum up some private investment support for a $300bn infrastructure spending program. There is cautious optimism surrounding what is expected to be a confirmed bid for Time Warner Cable by smaller rival Charter Communications on Tuesday. US competition regulators recently scuppered Comcast’s bid for TWC. A tie-up of Charter and Time Warner Cable would certainly concentrate power within the broadband internet industry and could negatively hurt consumer choice, making it likely to see as much regulatory scrutiny as the Comcast bid. Futures suggest the: S&P 500 will open 8 points lower at 2,118 with the Dow Jones expected to open 50 points lower at 18,182 and the Nasdaq 100 23 points lower at 4,504. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.