LISBON, May 23- President Anibal Cavaco Silva thanked Portugal's patron saint for a long-delayed approval of Lisbon's bailout review last week, but the head of state could claim a share of the credit for himself.» Read More
The Dow passes 13,000 and falls back, reports CNBC's Mandy Drury. Time will tell, she says, where the market goes from here. The Dow hasn't hit 13,000 since May 2008. Gasoline the highest it's ever been this time of year. Home Depot shares hit highest level since May 2002. Wal-Mart shares are lower, however, as Q4 net falls 15 percent due to higher costs.
European shares remain lower, even as the Dow breaks the 13,000 mark and the Greeks reach a bailout deal. Euro zone finance ministers seal $172 billion bailout for Greece. Spanish T-bill yields fall sharply at first auction following Greek deal. And UK public finances post biggest monthly surplus in four years.
Stock index futures pointed to a rise in U.S. equities on Tuesday after euro zone finance ministers finally sealed a bailout for Greece. European shares steadied on Tuesday after hitting seven-month highs on Monday, with strategists saying the focus would now turn to the bleak outlook for Greece's economy after the country secured a bailout package.
US futures point to Wall Street opening higher after a mixed session on Friday. European shares slipped back from near seven-month highs on Tuesday, with strategists saying the focus would now turn to the bleak outlook for Greece's economy after the country secured a bailout package and averted a messy default. Asian stocks also dipped, concerns that the deal is only a short-term fix kept stocks subdued.
With markets closed in the US for the Presidents' Day holiday, the focus was firmly on Europe and the afternoon meeting of euro zone finance ministers with a positive resolution being increasingly priced in by investors. European shares closed up on expectations that Greece will get its second bailout, and after China cut the amount its banks must hold in reserve.
With markets closed in the US for the Presidents' Day holiday, European shares hit a near seven-month high on Monday after China eased its monetary policy further over the weekend in an effort to fight slowing growth, with mining stocks among the main winners. Asia markets across the assets rose as expectations that Greece will secure a second bailout buoyed investor appetite for riskier assets, sending U.S. crude and copper up nearly 2 percent.
The U.S. market is being spurred by better economic news, and a look at the stock moves today, including Apple losing steam in China; Gilead Sciences shares dropping after patients being treated with its hepatitis c drug have had relapses, and Google is slightly lower on a Wall Street Journal reporting the company bypassed Apple browser privacy preferences, reports CNBC's Amanda Drury.
European stocks rise on renewed hopes for a Greek bailout and CNBC's Michelle Caruso-Cabrera takes a look at the timeline of Greece's race to make the March 20th debt payment and CNBC's John Harwood has the details on the House passing the payroll tax cut extension, and the CNBC news team take a look at the global market movers on the last trading session of the week.
European stocks were higher as hopes that an agreement on a debt swap for Greece to help it cut its huge debt increased. Expectations of a resolution for Greece, coupled with better-than-expected data from the US on Thursday, pushed up Asian stocks. In the US, futures indicated a broadly flat open for Wall Street, after German chancellor Angela Merkel canceled a trip to Italy because German President Christian Wulff announced his resignation after state prosecutors asked parliament to remove his legal immunity over accusations that he accepted favors. Wulff said his actions had always been fair.
US stock index futures were indicating a slightly higher open for Wall Street on Friday, just after German President Christian Wulff announced his resignation after state prosecutors asked parliament to remove his legal immunity over accusations that he accepted favors. Wulff said his actions had always been fair. European stocks were higher on hopes that an agreement on a debt swap for Greece was on the way while the same hopes, coupled with the better-than-expected data from the US on Thursday, pushed up Asian stocks.
"If you go through the data, on the balance sheets and such," Erik Nielsen, chief economist at Unicredit, told CNBC, "Europe as a whole looks pretty wealthy compared to the US and the UK." The issue, he added, is a matter of distribution.
CNBC's Mandy Drury looks at the U.S. markets, which are up on strong economic data. Moody's bank downgrade threat has a slight impact on some U.S. banks. GM earns record profit of $7.6 billion for 2011. Marriott says room rates have risen in most areas of the world. Amazon is downgraded by Morgan Stanley and is down today, as a result.
European markets come off lows after good U.S. economic data. Unemployment in Portugal jumps to 14 percent in Q4. French yields fall below 1 percent at 2-year note sale. Greece's far right Laos Party reportedly won't commit to austerity measures. Polls show 40 percent of Greeks support anti-austerity leftist parties. Greece says it hopes to wrap up bailout agreement by Monday. With Art Nolan, independent trader.
U.S. stock index futures were signaling a lower open for Wall Street on Thursday after closing down the previous session, with the Dow logging its sharpest decline this year and ahead of a string of economic data. European stocks were down as well, while the euro hit a three-week low on worries about a possible delay of a second bailout for Greece.
US futures point to a flat open for Wall Street. European shares opened lower on Thursday, with investor sentiment hit by further hurdles in the Greek bailout deal and by the prospects of more ratings downgrades for the region's financial institutions. Asian shares fell sharply reversing the previous day's rally.
CNBC's Mandy Drury looks at the U.S. markets, which are mixed after a positive start. Shares of Yahoo are lower after talks with Alibaba break off. Zynga is also lower after the company warns of a booking slowdown. Apple is up again for the ninth consecutive say. And Kellog's is up after agreeing to acquire Pringles from P&G.
European shares pare early gains on reports of possible delay in Greek bailout. Bank stocks are mostly higher, though off the day's best levels. Bank of England raises 2-year inflation forecast to a higher than expected 1.8 percent. Italy slides back in recession as economy contracts .7 percent in Q4. German economy shrinks less than expected to .2 percent in Q4.
U.S. stock index futures pointed to a sharply higher open for Wall Street, as European shares rallied on the back of economic data that was not as bad as expected. Germany's gross domestic product shrank by less than expected, while the euro zone economy shrank but a north-south divide was evident as France grew while Italy contracted. Banks were leading European stocks up, after BNP Paribas hit its earnings targets and said it saw positive signs for the year.
US Futures point to a higher open for Wall Street after a mixed trading session yesterday. European stocks rose on Wednesday following better-than-feared GDP figures for Germany and France, and as debt-stricken Greece appeared to be nearing a political consensus on painful budget cuts. In Asia markets rose on Greece while comments from China's central bank governor saying Beijing would continue to invest in euro zone government debt aided sentiment.
Mandy Drury reports U.S. markets are in the red, not in honor of Valentine's Day, but because of disappointing retail sales. Gap is up on a Citi upgrade, but Avon swings to Q4 loss and plans layoffs. Financials, including Bank of America, are down today. But Apple is up and, for the moment, worth more than Microsoft and Google combined.