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European shares were seen mixed on Thursday, as investors take a breather after a brisk two-day rally, bracing for further debt auctions in the euro zone as well as interest rate decisions.
U.S. economic reports should dominate early trading Thursday, unless the European debt crisis bubbles up again.
Stocks ended at new record highs as the Federal Reserve reported improving economic conditions across the country, and as upbeat earnings outlooks for banks lifted investor sentiment. JPMorgan and Bank of America rose, while Disney fell.
Stocks traded off the highs of the day, but remained significantly up, as the Federal Reserve reported improving economic conditions across the country, and as upbeat earnings outlooks for banks lifted investor sentiment. JPMorgan and Boeing rose, while Alcoa fell.
So, Portugal sold 1.2 billion euros of debt ($1.61 billion). Big deal. What does that prove? Surely in the context of sovereign debt, the amount is tiny. Moreover, Lisbon won't tell us who bought the paper.
Stocks gained on a brighter outlook for banks ahead of earnings releases, and as debt troubles in Europe eased after a successful Portuguese bond offering. JPMorgan and Bank of America gained.
U.S. stock index futures gained ahead of the open Wednesday and remained higher after Portugal successfully auctioned government debt, relieving some of investors' concerns about the state of the euro zone debt crisis.
The early morning hoopla Tuesday was that Japan had pledged to support the Eurozone in its continuing fight against the ill winds of threatened illiquidity by buying bonds. Probably bonds issued by the Financial Stability thing that has been set up by the European central bank.
Spain is different than other euro zone periphery countries as its fiscal position is strong, Matias Rodriguez Inciarte, vice chairman of bank Santander, told CNBC Wednesday in an interview.
European shares were set to open flat to lower on Wednesday as caution over the euro zone debt crisis prevailed ahead of a closely-watched Portuguese bond auction.
Today, Japanese Finance Minister Noda said that Japan would use its existing euro foreign exchange reserves to buy a large portion of the bonds issued by the European Financial Stability Fund.
Despite denials by the Portuguese Prime Minister Jose Socrates that the country will not be seeking financial aid from the IMF or the European Union, technical discussions are being held ‘quietly’ among European leaders about a possible bailout plan, the Portuguese newspaper Publico reported on its Web site.
Greek Finance Minister George Papanconstantinou sought to reassure investors over the country’s debt burden on Tuesday, saying spreads between Greek and German bonds were high because of broader market turbulence rather than real threat of default.
European shares were set to rise on Tuesday, after Wall Street finished off lows, and Alcoa kicked off earnings season by beating forecasts.
Worries of the european debt crisis was back in the news on Monday as Euro shares dropped sharply ahead of debt auctions this week.
European sovereign debt is the US stock market's bad penny—it keeps turning up where it's not wanted and at the most inopportune times.
Dennis Gartman, founder of "The Gartman Letter," said he still expects the euro to split into two currencies.
Will this be the week that Portugal becomes the latest euro zone country to call in the European Union and the International Monetary Fund to bail it out? The answer to that question will become clear on Wednesday when Lisbon taps the bond market for the first time in 2011.
Problems in Europe could end up dragging growth in China, hit commodity prices and derail the nascent American recovery, according to Satyajit Das, the author of "Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives".
European stocks were seen mostly unchanged on Monday, following last week's strong gains, as investors brace for this week's flurry of debt auctions in the euro zone.