U.S. stock futures are higher this morning after eurozone leaders said they reached a deal to provide further bailout aid to Greece. China is still in the news after stock-market roller coaster ride, reasoning that the economy is still growing fast and that panic among mom-and-pop buyers is behind the recent slide.
The U.S. dollar is up, oil is sliding and the markets are expected to open higher.
Here is the current market situation from CNN Money
European markets are broadly higher today with shares in France leading the region. The CAC 40 is up 1.78% while Germany's DAX is up 1.23% and London's FTSE 100 is up 0.69%.
BRUSSELS (AP) — After months of acrimony, Greece finally clinched a bailout agreement with its European creditors on Monday that will, if implemented, secure the country's place in the euro and avoid financial collapse.
The terms of the deal, however, will be painful both for Greeks and their radical left-led government, which since its election in January had vowed to stand up to the creditors and reject the budget cuts they have been demanding.
Before it can get 85 billion euros ($95.07 billion) in bailout cash and support for its banks to reopen, the Greek government will have to pass a raft of austerity measures that include sales tax increases, reforms to pensions, and labor market reforms. Greece will be on a tight timetable to implement its reforms.
BRUSSELS (Reuters) - Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euros bailout to keep the near-bankrupt country in the single currency.
Just released by the website of the Greek Prime Minister is Tsipras' statement about many things but most importanttly how he plans to "fight" to regain the "lost national sovereignty" - sovereignty which one may ask was lost by whom exactly...
Prime Minister Alexis Tsipras' statement following the conclusion of the Eurozone Summit
We have been fighting hard for six months now, and we fought until the end to achieve the best possible outcome, an agreement that will enable the country to get back on its feet, and for the Greek people to be able to continue to fight.
We faced tough decisions, tough dilemmas. We assumed responsibility for the decision in order to prevent the most extreme objectives from being implementedâ€"those pushed for by the most extreme conservative forces in the European Union.
The agreement calls for tough measures. However, we prevented the transfer of public property abroad, we prevented the financial asphyxiation and the collapse of the financial systemâ€"this was planned to the last detail â€" having recently been designed to perfection, and in the process of being implemented.
Finally, in this tough battle, we managed to gain the restructuring of the debt and a financing process for the medium-term.
We were aware that it would not be an easy task, but we have created a very important legacy. An important legacy, and a much-needed change throughout Europe. Greece will continue to fight, and we will continue to fight, so that we can return to growth, regain our lost national sovereignty. We earned our popular sovereignty. We sent a message of democracy, a me ...
Shares in Pacific Plywood, a Hong Kong-listed small-cap money lender, plunged by 27% today after the company said it agreed to buy mainland P2P site Caiji from its controlling shareholder in an all-stock deal worth at HK$2.4 billion, or $310 million.
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