U.S. stock index futures were flat this morning as a strong jobs report on Friday increased expectations that the Fed's could raise interest rates as soon as September. U.S. markets are expected to open flat and wikk show 'some' green mid-morning as WTI oil remains steady and the U.S. dollar falls.
Here is the current market situation from CNN Money
European markets are mixed. The FTSE 100 is higher by 0.24%, while the CAC 40 is leading the DAX lower. They are down 0.57% and 0.44% respectively.
European stocks slipped into the red as wrangling over Greece's financing deal continued to cast a shadow over markets.
FRANKFURT (Reuters) - The appointment of John Cryan as chief executive of Deutsche Bank sent shares in Germany's largest lender up 8 percent on Monday as investors judged the Briton a more credible contender than his two ousted predecessors to revive its fortunes.
Greek Minister of State Nikos Pappas and Deputy Foreign Minister Euclid Tsakalotos are in Brussels today, for political negotiations, Bloomberg reports, as Athens seeks to address short-term liquidity concerns on the heels of a fractious week that began and ended with fire and brimstone rhetoric from PM Alexis Tsipras.
Recapping, Tsipras penned a lengthy and scathing op-ed late last month before submitting what he called a "reasonable" proposal to creditors last Monday. An emergency meeting between the EU top brass produced a draft agreement on Tuesday. Tsipras promptly shot it down, before delivering a speech to the Greek parliament on Friday during which he expressed his disappointment at the troika's tactics and continued to insist that creditors were attempting to "blackmail" Greece. Over the weekend, EU Commission President Jean-Claude Junker reportedly declined a phone call from Tsipras because there "was nothing to talk about." The Greek government has denied the call ever took place.
World leaders meeting in Germany for a G-7 summit put up a united front, after US President Barack Obama put Greece on the agenda. "There was unanimity of opinion in the room that it was important for Greece and their partners to chart a way forward that builds on crucial structural reforms," The White House said, with spokesman Josh Earnest adding that "there is obviously a deadline looming [and the President] is certainly hopeful that Greece and their partners will be able to chart this path without undue volatility."
"There is full agreement at the G-7 that everything must be done in order to avoid Greece ...
While there were key macroeconomic data out of Asia earlier in the session, with Japan revising its Q1 GDP up from 2.4% to 3.9% (due to an upward revision to capex) making some wonder if it simply didn't snow in Japan this winter, as well as Chinese trade data that was once again disappointing with the third consecutive drop in exports coupled with an 18.1% collapse in imports hinting that nothing is going well in China's economy (which once again sent stocks soaring this time up another 2.2% on certainty another PBOC rate cut is imminent, pushing the PBOC to a fresh 7-year high of 5,132), it was actually a leaked Obama comment on the strong USD that moved markets.
Shortly before 3 am Eastern, BBG blasted the following:
FRENCH OFFICIAL: OBAMA SAID STRONG DOLLAR IS PROBLEM
Which promptly set the USD tumbling:
... before just one hour later, the US realized leaks like this are not allowed, the Fed as an "independent" organization, and that Obama really meant the strong USD is good if anything, we got the following headline:
U.S. OFFICIAL: OBAMA DIDN'T SAY STRONG DOLLAR WAS A PROBLEM
Which in turn strenghtened the USD...
... but only modestly showing that the market realized the official US position had indeed been leaked and that as explained before, the Fed is cornered, on one hand unable to hike due to further USD profit-crippling strength, on the other unable to keep rates low over market stability and credibility concerns.
ATHENS (Reuters) - Greece's government considers its reforms proposal to lenders as the basis for a deal but is willing to compromise to meet the needs of euro zone and IMF creditors, the government spokesman said on Monday.
The largest U.S. public pension fund intends to sever ties with roughly half of the firms handling its money, one of the most aggressive industry moves yet to reduce fees paid to Wall Street investment managers.
LONDON (Reuters) - More sales of German government bonds weighed on European stock markets on Monday, while the dollar retreated after a report - later denied - that President Barack Obama had expressed concern over its strength after a year-long rally.
KRUEN, Germany (Reuters) - A senior U.S. official denied on Monday a news wire report that President Barack Obama had told a Group of Seven industrial nations' summit that the strong dollar was a problem.
America's youth has become mired in a dire debt. Part of this reality is caused by what seems a perennial rise of college tuition. A tertiary education is highly praised; but everything has a frailty. Four years of college, specifically, involves one or more opportunity costs with the most noteworthy ones deriving from monetary deprivations.
NEW YORK (Reuters) - General Electric Co is near a deal to sell its private equity lending unit to the Canada Pension Plan Investment Board (CPPIB), a person familiar with the matter said, as the conglomerate takes a big step in a planned massive pullback from its finance operations.
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