Futures are Higher on the News out of Europe

by Marilou Moursund on October 26, 2011

in Banks,Credit Crisis,Debt,Foreign Markets,Uncategorized

Our markets have been held hostage since the summer to the news flow out of Europe.  The lower house of the German parliament voted to strengthen the EFSF, or the European Financial Stability Fund.  There are also rumors that the seventeen member nations of the EU have agreed to a 50% haircut on Greek debt.  The market rallies when it looks like Europe is taking its debt problem seriously.

Earnings have been a mixed bag so far.  Some industrials have surprised to the upside like CAT, HON, and BA, while others like MMM and CMI have disappointed.  There have also been disappointments in some high flyers like NFLX, AMZN, and FSLR.

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