Major indexes in Europe and Asia closed with slight gains. On Friday, the Labor Department releases its monthly look at the job market. FROZEN: "The market today looks a little frozen, because it's going to face some really revealing stuff in the next 72 hours," said Jim Paulsen, chief investment strategist at Wells Capital Management.» Read More
Twenty-seven European nations and the IMF agreed to a mammoth E750 billion plan to stabilize the financial markets.
It was pretty wild out there. But instead of chalking this up as simply panic in the market, we should see it as a huge wake up call. All is not well.
Panic has gripped stock markets worldwide over the Greek debt crisis and the threat of a debt-deflation contagion through banks in Europe (primarily) and the U.S. that own the bonds of Greece, Portugal, Spain, and so forth. If these bond asset prices collapse totally, lending facilities would be badly crimped for both the short and long term.
Lazard has been hired to assist Greece with its finances. The speculation is Lazard has been hired to assist Greece with a restructuring of its debt. That, of course, has been denied. These guys always deny, deny, deny until it's done.
Once passed, the bill will be signed into law and then presented to the Euro Zone meeting on Friday night. There is likely to be a constitutional challenge to the agreement, but this will not impede the flow of money to Greece.
The ink was barely dry on the $150 billion EU/IMF bailout of Greece when world stock markets tanked on two major fears.
Last Friday, I stated that the vote this week on Friday in Germany was analogous to what occurred in the US Congress leading up to the TARP vote. The uncertainty would drive down the Euro and raise questions over the viability of the union. Now, we’re seeing another aspect arise: attempting to scare the German politicians into voting yes.
The market is already beginning to ask if the German public and the EU have the stomach for a rescue package for Portugal, Spain, Ireland and even for Italy.
The Greek debt crisis is beginning to take a back seat, while the earnings season has got off to a solid start, therefore stocks are once again a good place for investors, Bruno Verstraete, CEO of Nautilus Invest in Zurich, told CNBC Tuesday.
Despite yields on Greek debt falling after the bailout deal, analysts and investors warn that there are still pitfalls that could threaten the single European currency.
European officials are finally getting spurred into action by the danger of contagion and sources in the City say Greek debt is a screaming buy.
A lack of competitiveness, not credit default swaps (CDS), brought Greece to the brink of financial catastrophe, former Greek Finance Minister Yannos Papantoniou told CNBC.com Wednesday.
The market reaction to the debt crisis in Greece and the euro zone has spooked investors across the world and led to heavy selling of stocks. But is the crisis actually impacting real businesses, given Greece makes up only two percent of euro zone gross domestic product?
Germany's reticence to come to the rescue of the Greek government has been widely criticised across the euro zone.
Whispers of contagion are sending a chill through bond markets, while the euro is likely to fall further and things don't look pretty for stocks. Smart money is likely to go into gold.
The Nasdaq 100 index is showing a "pretty good uptrend," noted Roelof van den Akker, technical analyst from ING Wholesale Banking Tuesday.
The Dow Jones Transport Index, widely believed to be a predictor of where US markets are going, shows signs of bottoming out, Roelof van den Akker from ING Wholesale Banking told CNBC.
A market bottom is nowhere in sight and safety of investment still beats quality as a choice for investors, as markets remain extremely volatile, Nick Parsons, head of strategy at nabCapital Markets told CNBC.
European shares were set to open little changed on Tuesday as recessionary fears weighed ahead of the U.S. presidential election tracking the U.S. markets on Monday, while Asian stocks were mixed.
Scarcity of Volkswagen stocks after Porsche bought up nearly all the remaining free float triggered a short squeeze that pushed VW's market capitalization above that of Exxon at some point Tuesday.