NEW YORK (MarketWatch) � U.S. stock futures fell Friday, along with the euro and commodities, as European finance ministers set conditions for Greece to meet before they release another round of funds.
Greece must approve an austerity plan into law and find 325 million euros in spending cuts before euro-zone nations back another round of funds for Athens, with the deal falling apart due to concerns coming elections in Greece could derail the country�s commitments.
�Whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets,� said Peter Boockvar, equity strategist at Miller Tabak.
�A failed vote will likely lead to a hard default which may be what the Greeks want at this point where a clean slate can be established.�
Futures for the Dow Jones Industrial Average �fell 93 points, or 0.7%, to 12,749 and those on the Standard & Poor�s 500 stock index �slipped 11.80 points, or 0.6%, to 1,336.50.
Nasdaq 100 futures �fell 20 points to 2,541.00.
Click to Play Stocks inch higher, shrug off GreeceShares drifted up Thursday as investors took stock of a Greek refinancing deal and continued improvement in the U.S. labor market.
A risk-averse mood appeared to be settling in for investors on Friday, with commodities also lower.
Most Asian markets closed down and the Stoxx Europe 600 index XX:SXXP �fell 0.6% after euro-zone finance ministers meeting late Thursday would not sign off on a second bailout package for Greece until that country�s parliament approves austerity measures.
Greek officials agreed on a draft agreement late Thursday that will cut Greek debt to 120% of gross domestic product, and include a 22% cut in the private-sector minimum wage. Greece�s major unions called a 48-hour nationwide strike on Friday.
�It�s been like pulling out teeth getting this far and then [the] EU has asked for more,� said Simon Smith, chief economist at FxPro in London. �I would not be surprised if over [the] weekend we get a repeat of the referendum debacle seen toward the end of last year, where domestic sentiment turns against the EU.
�The issue is that EU leaders are saying that Greece cannot be allowed to default or leave, but without that ultimate threat, they are riding roughshod over the EU, IMF and ECB,� Smith said, in e-mailed comments.
In the U.S., the Commerce Department will release the December trade deficit data at 8:30 a.m. Eastern time, while the University of Michigan/Thomson Reuters consumer-sentiment index for February will be released at 9:55 a.m. Eastern.
At 12:30 a.m. Eastern, Federal Reserve Chairman Bernanke will discuss the state of the U.S. housing market at the National Association of Homebuilders International Builders� Show in Orlando, Fla.
The earnings calendar is light for Friday. Ahead of the bell, Laboratory Corp. of America LH , NYSE Euronext NYX �and PPL Corp. PPL �are due to release results.
Shares of Nuance Communications Inc. NUAN �fell after the company reported first-quarter profit and revenue that fell short of analysts expectations.
Shares of LinkedIn Corp. LNKD �rose in pre-marketing trading on Friday. The company reported adjusted fourth-quarter earnings of 12 cents a share late the prior day, against expectations for 7 cents a share.
U.S.-listed shares of Barclays PLC BCS �UK:BARC �could be active. The U.K. bank said 2011 net profit fell amid lower investment banking revenue, but it also said it had an �encouraging start� to this year. The bank said it would cut its bonus pool by 26%.
Crude-oil futures for March delivery �fell $1.58 to $98.26 a barrel as the International Energy Agency lowered its estimate for global oil demand growth in 2012 to 800,000 barrels a day, against a prior forecast of 1.1 million barrels a day.
A strengthening dollar was also weighing on crude, with the dollar index DXY , which weighs the dollar against a basket of six major rivals, rising to 79.015 against 78.582 in late North American trading on Thursday.
The euro EURUSD � fell to 1.3194 versus the dollar.
Gold futures for April delivery �fell $27.40 to $1,713.80 an ounce.
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