Investing.com - Financial Markets Worldwide

E Mini S&P settles 1237.50 up 13.00

ByPFGBest Forex
Published 10/26/2011, 06:29 AM
Updated 01/01/2017, 02:20 AM
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U.S. stocks rose on Wednesday, rebounding from yesterday’s slump, as reports from the EU stated that the region reached an agreement on plans to recapitalize banks, and a report out of China,, that said the Chinese along with other developing nations may
be willing to invest in the regions bailout. S&P futures climbed almost one percent in afternoon trading, after a see saw morning that saw futures prices test support
levels as early headlines from the EU did not provide any clarity as to progress being made. The headline stories from the EU have kept many investors at bay due to the ever changing story on the proposed bailouts.

Today’s Summit was the 14th in the last 21 months in the EU. There has been mounting global pressure over the EU failure for the last two years, to come to an agreement that might settle fiscal issues for the long term and not on a month to month basis.
Sources confirmed from today’s summit in Brussels that EU leaders have reached an agreement on a plan to recapitalize banks.

In fact German Chancellor Merkel along with French President Sarkozy will meet with Greek creditors tonight to break a deadlock of the terms of a Greek debt write down.  It was also reported that in a response to a European request that China may be asked to fund a package to aid the euro region’s debt crisis.  Investors should stay tuned to this story as it is still the number one Story on investor’s minds.

Economic data here in the U.S.  showed extended gains as orders for U.S. durable goods excluding transportation equipment rose in September by the most in six months.
A separate housing report showed purchases of new homes increased more than forecast
in September as discounted prices lured buyers in some sectors of the country.

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