Posted on 07/13/2015 4:08:01 AM PDT by expat_panama
U.S. stock markets were tipped to open higher on Monday following news that Greece and its international creditors have reached a bailout agreement.
European Council President Donald Tusk said early on Monday that euro zone leaders reached an unanimous agreement with Greece after all-night talks in Brussels to move forward with a bailout loan for Greece provided Athens implement tough reforms.
"Markets have responded very positively to the news, which comes following months of uncertainty and increasing fears that Greece could suffer a messy exit from the euro zone," Craig Erlam, a senior market analyst at currency trading firm OANDA.
"The euro saw an initial positive reaction to the deal, although those gains have been largely pared at this stage, European indices have opened very strongly and periphery debt yields are on the decline," he added.
European stock markets rallied on news of the deal, with stock markets in France and Germany trading more than 1.5 percent higher.
That helped set the tone for trade in U.S. stock index futures , with futures for the blue-chip Dow Jones industrial average trading more than 100 points higher in London trade.
The euro meanwhile was trading at $1.11, little changed on the day.
Concerns about Greece's future have dominated markets in recent weeks, with a failure to reach a cash-for-reforms deal fuelling fears that the indebted nation could become the first to leave the euro zone.
U.S. stocks closed more than 1 percent higher on Friday, recovering from heavy selling earlier in the week, as hopes for a resolution in Greece and a stabilization in China's stock market lifted sentiment.
There's little in the way of major U.S. economic news on the calendar this session, with attention turning to Federal Reserve chief Janet Yellen, who delivers her semi-annual testimony...
(Excerpt) Read more at finance.yahoo.com ...
We had a real economy, with real manufacturing, and real jobs.
Today's markets are rigged. Yes, rigged. Crony Capitalism rules.
And these clowns are not "investors."
They are worse than Vegas gamblers, playing with ficticious QE Federal Reserve "pumped" money.
A Day of Reckoning is coming.
Happy rebound day to all of our "buy-on-the-dips" traders!! Last week's end on a four-day high now has stock index futures @ +0.73% w/ metals muddling along at support levels that have served since last Feb. Only econ report is the Treasury Budg this aft but for now the news is downright copius:
- Rising Interest Rates Could Shock Investors - Roger Bootle, Daily Telegraph
- Why Investing Is Very Complicated - Sendhil Mullainathan, New York Times
- The Source of Rising Economic Worry - Noam Scheiber, New York Times
- Bernie Sanders: The Future Of The Democratic Party - Reason
I’m just reviewing the news on Greece.
Looks like the Greek deal is the Eurofolk have taken Greece’s checkbook away from them. All the money stuff has to be approved by the Eurofolk.
Is that how you see it?
Karl Marx thought Free Trade destroyed the middle class. So far he is right about that.
That’s been my take too, not because I’ve seen any new evidence to that effect but imho it’s the only realistic ‘cause-and-effect’ outcome we should be seeing about now.
How does the collapsing economy a small country with a GDP less than Louisiana affect the US stock market?
Huh. Personally I've never much found Marx to have a very good track record when it came to economics in general or trade in particular.
Refute it then. We got on this free trade suicidal band wagon big time in the 70’s. Every economic indicator shows it has devastated the middle class.
It’s pretty simple really. Greeceis a potential straw on the camel’s back. The more socialism around the world must be supported by “other people’s money” the sooner we all run out of OPM. Margaret Thatcher had the whole thing cut down to bumper sticker simple. What makes the game exciting is finding the tipping point where the freeloader demands more than the enslaved producer can physically supply. That is the day of reset. Until that day, anything keeping the fairytale afloat will be celebrated in the media. Idiots believe the media. Don’t be there on the day of reset. Continents will burn on the day of reset.
It is difficult to quantify because different countries work under different rules(for example China doesn't have OUR EPA). Because the equation has so many variables, you can't pinpoint one thing for a single cause and effect. So to make a generalization either way is dishonest. Our economy was on the track for disaster because of deficit spending, a bloated government (with too many generous pensions), too many give-away programs, and reckless spending on government projects. So, while free trade has a small part in our economic woes, it is minimal.
That's exactly the question that I was raising at the beginning, and I'm settling down to two possibilities. One is that Greece tanking means gov't bonds need higher interest rates and that poops on everyone's efforts to raise capital, and the other is that it doesn't affect it, that market prices fluctuate 'cause that's what they do and that Greece is only there so pundits can sell copy.
Why does every “Free Trade” agreement include money to retrain “displaced” US workers?
You are pretty much just plain wrong
I would argue that you should read Forbes at Forbes.com every day
If you did, you would know that there are many many young entrepreneurs working long hours at home and in garages starting new businesses. there are others that have opened real offices and warehouses and continuing to build those fledgling businesses. Some succeed, some fail.
Those generally young Americans, both men and women, know the way to the future is not trying to recreate that which became obsolete, but to create something new from scratch. That is what they are doing.
I am saying that the current Stock Market wild gains of the last 6 years are in NO WAY a reflection of the actual economic situation of this nation.
This thing is going to come crashing down, perhaps soon. I pray that when it happens, it does not plunge the entire world into Global Depression.
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