At 8:00 a.m. futures are modestly higher, the dollar is down against major world currencies, and the price of oil is slightly down per barrel. The market is poised to open in the flat to slightly higher range.
Reviewing the financial articles, not much has changed from Monday. Investors will be waiting to see what happens in Greece as that country has decided to vote against its interest and elect a pro-austerity minded government. Right now there is only primarily speculation to answer that question but the likelihood of Greece staying in the eurozone seems greater.
As we know Spain is an economic mess as well and there is probably greater concern surrounding that country's financial stability and future among investors. All of this eurozone mess affects the global economy and negatively impacts world markets. It's hard to see this changing although one would suspect that periodically other financial news will dominate the eurozone.
Investors will be getting data on the housing market today and the big deal, the real big deal will be the end of a longer Fed meeting on Wednesday. Naturally investors are looking for QE3. If that were to happen, equities will probably go right back up into the DOW at 13,000+.
CNN: Stocks: Eyes on Europe again
The winning (Greek) New Democracy party could announce a coalition government as soon as Tuesday.
...banking and debt worries in Spain have moved into greater focus.
...the Federal Reserve's two-day meeting, which ends Wednesday.
Housing starts for May are expected...
No comments:
Post a Comment