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NEW YORK (CNNMoney) -- U.S. stock futures were slightly higher Monday, after Greece passed an austerity budget for 2013.
Europe is in focus as finance ministers from the 17 euro countries meet in Brussels later Monday to discuss Greece's economic reforms.
Over the weekend, Greece's parliament approved the nation's 2013 budget. The vote was a big step toward unfreezing international bailout funds, even though disagreement among its creditors could push back the timetable for when that aid will resume.
European stocks were mostly higher in morning trading. Britain's FTSE 100 rose 0.3%, the DAX in Germany ticked up 0.3% and France's CAC 40 was flat.
Fear & Greed Index
Meanwhile, Japan's economy contracted at an annual rate of 3.5% in the latest quarter, sparking concerns of a sustained regional slowdown. The GDP figures, reported Monday by Japan's Cabinet Office, were worse than economists had expected.
Asian markets ended mixed. Japan's Nikkei lost almost 1%, while the Shanghai Composite added 0.5% and the Hang Seng in Hong Kong ticked up 0.2%.
Related: Asia to power global trade growth
On the domestic front, Wall Street begins the week with a nervous eye on Washington as the nation heads towards the so-called "fiscal cliff."
Stocks sold off sharply last week on worries about the automatic spending cuts and tax increases that will kick in should lawmakers fail to cut a deal by January, potentially triggering a recession.
President Obama said Friday that he will meet with Republican and Democratic leaders this week to discuss the situation, and investors will be watching closely for any new developments.
U.S. stocks eked out tiny gains Friday, but closed out the election week down more than 2%.
Companies: Homebuilders DR Horton (DHI) and Beazer Homes (BZH) both report fiscal fourth quarter earnings before the opening bell Monday.
Beazer Homes posted a quarterly loss of $2.57 per share, falling short of analyst expectations, but the company beat estimates on revenue with $370.9 million in sales.
Homebuilders have recently benefited from signs of a gradual housing recovery. DR Horton stock has been on a tear, rising 77% over the last year, and Beazer shares are up 50% over a year ago.
Titanium Metals Corporation (TIE) climbed 41% in premarket trading. Precision Castparts (PCP, Fortune 500) announced late Friday that it will acquire Titanium Metals for $16.50 per share, valuing the company at $2.9 billion.
Currencies and commodities: The dollar lost ground against the euro, British pound and the Japanese yen.
Oil for December delivery lost 19 cents to $85.88 a barrel.
Gold futures for December delivery gained $5.20 to $1,736.10 an ounce.
Bonds: The yield on the benchmark 10-year U.S. Treasury sat at 1.61% late Friday. Treasury markets are closed Monday for Veterans' Day.
First Published: November 12, 2012: 6:11 AM ET
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