By Chuck Mikolajczak
NEW YORK (Reuters) - U.S. stocks were poised to open modestly lower on Monday, after the Dow and S&P closed at records on the heels of an agreement by euro zone finance ministers to extend Greece's bailout by four months provided it draws up a list of reforms.
Greece will present its economic reform plans on Monday to seal the euro zone financial lifeline, but the government drew criticism from a veteran leftist and ruling party member that the deal let voters down. The deal is conditional on Greece's European and IMF creditors accepting the reform list.
"In spite of Germany taking a hard line, the proposals will most likely be accepted by the EU and the reason for that is simply Greece cannot afford to depart from the euro zone, not because Greece is a big economy, but from a psychological standpoint," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
"The EU does not want Greece to leave, because if (it does), it sets a precedent and opens up a new can of worms ? who would be next?"
The equity market gains led each of the three major Wall Street indexes to their third weekly advance on Friday, with the Nasdaq on an eight-session winning streak as it closed in on the 5,000 mark for the first time in nearly fifteen years.
Existing home sales data is due at 10:00 a.m., the first in a flurry of economic reports this week that will help investors gauge the strength of the housing sector.
S&P 500 e-mini futures
Oil prices fell, with Brent
Canada's Valeant Pharmaceuticals International Inc
Asahi Kasei Corp <3407.T>, a Japanese chemicals maker, said it would buy Polypore International Inc's
Home Loan Servicing
Dow component Boeing
(Editing by Bernadette Baum)
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