Paras Madho is a Director of the Market Watch & Corporate Actions, Global Corporate Client Group for NYSE Euronext (NYSE: NYX). In this...
Ahead of the Bell: Dow futures are trading down 7 points and S&P futures are trading down 2 points following a proposal by France that would voluntarily roll over maturing Greek debt for 30 years, allowing the government to implement its five-year austerity plan. According to plan details, banks would reinvest 70% of the proceeds realized from maturing Greek debt from 2011 through 2014 and cash out the remaining proceeds. Of the 70% reinvested, 50% would go into a 30-year bond and 20% would go into zero-coupon AAA rated bond with deferred interest. The plan needs IMF and EU approval. German banks seemed encouraged by the proposal. Meanwhile in Greece, workers have walked off their jobs in a two-day strike and thousands have gathered in front of the Parliament to protest the austerity measures.
Feel the love – XOXO begins trading on the NYSE today (The Knot, Inc. transfers from Nasdaq and changes its name)! Happy Tuesday, have a nice day.
DJIA up 108.98 pts/+0.91%/12,043.56
S&P up 11.65 pts/+0.92%/1,280.10
Nasdaq up 35.39 pts/+1.33/2,688.28
Dow Futures down 7 pts/-0.07%
S&P Futures down 2.50 pts/-0.19%
Nasdaq Fut down 2.75 pts/-0.26%
CAC 40 +0.55%
NIKKEI 225 +0.74%
HANG SENG +0.09%
Overseas: World stock markets were up today. European and Asian markets were up after a proposal by France to address the Greek sovereign debt crisis.
Economic Reports: Consumer Confidence expected to be 62.0 @10:00 a.m.
Gold:up $3.10 to $1,501.85
Oil:up $0.62 to $91.31
EUR/USD 1.4271 -0.0016
USD/JPY 80.8350 -0.0800
GBP/USD 1.5961 -0.0026
Volatility Index (VIX): As of the close of business Monday, June 27, the VIX is down 0.54 pts to 20.56
Companies Reporting Quarterly Earnings: None as of yet.
Today’s Opening and Closing Bells:
The Knot Inc. Celebrates 15th Anniversary, Transfers Listing to the NYSE, Changes Name to XO Group Inc. (XOXO). Co-Founder and CEO and Carley Roney, Co-Founder and Editor in Chief will ring the opening bell.
Hill International visits the New York Stock Exchange. Chairman and CEO Irvin E. Richter and President and COO David L. Richter will ring the closing bell.