Investing.com - U.S. stocks traded higher Monday, as Greece’s approval of their austerity package added to worldwide equity optimism.
Near the close of U.S. trade, the Dow gained 0.56%, the S&P 500 advanced 0.66% and the Nasdaq Composite soared 0.90%.
Launching the risk on sentiment, Greek Prime Minister, Lucas Papademos obtained parliamentary approval for the spending cuts by a vote of 199 to 74 for the austerity plans.
Euro zone finance ministers are meeting on February, 15 to decide whether or not Greece should be approved for its second economic bailout package.
Germany and European Commission appear pleased with the austerity plans, increasing hopes that the bailout will be approved.
Meanwhile, Italian borrowing costs declined at a debt auction today. Italy’s treasury sold EUR8.5 billion 365 day bills and EUR3.5 billion 127 day bills at lower rates than previous sales.
In German news, the euro zone’s largest economy sold EUR3.01 billion of six month bills at an average yield of 0.0761%, up from a negative yield at a sale held on January 9.
Earlier, the United States saw a surprising decline in the number of first time unemployment claims last week. This solidifies hopes that the recovery is continuing in the world’s largest economy.
Earnings season is in full swing with 68% of the 280 companies in the S&P 500 reporting since January 9 beating estimates.
Apple continued its month long rally adding 1.6% after reporting doubled quarterly profit on January 24.
Advanced Micro Devices soared 3.7% after being raised by Sanford C. Bernstein & Co.
Chesapeake advanced 2.4% after the CEO vowed to cut long term debt by 25%
Regeneron Pharmaceuticals surged 13% after raising its sales forecast.
In bearish news, First Solar gave back 5% after being downgraded at Brigantine Advisors.
After the close of European trade, the EURO STOXX 50 gained 0.19%, France's CAC 40 climbed 0.11%, while Germany's DAX added 0.46%. Meanwhile, in the U.K. the FTSE 100 moved higher by 0.71
Investors are awaiting Japan’s monetary policy statement, France’s non farm payroll numbers, and retail sales, import numbers and a talk by Treasury Secretary, Timothy Geithner in the U.S. on Tuesday.
Near the close of U.S. trade, the Dow gained 0.56%, the S&P 500 advanced 0.66% and the Nasdaq Composite soared 0.90%.
Launching the risk on sentiment, Greek Prime Minister, Lucas Papademos obtained parliamentary approval for the spending cuts by a vote of 199 to 74 for the austerity plans.
Euro zone finance ministers are meeting on February, 15 to decide whether or not Greece should be approved for its second economic bailout package.
Germany and European Commission appear pleased with the austerity plans, increasing hopes that the bailout will be approved.
Meanwhile, Italian borrowing costs declined at a debt auction today. Italy’s treasury sold EUR8.5 billion 365 day bills and EUR3.5 billion 127 day bills at lower rates than previous sales.
In German news, the euro zone’s largest economy sold EUR3.01 billion of six month bills at an average yield of 0.0761%, up from a negative yield at a sale held on January 9.
Earlier, the United States saw a surprising decline in the number of first time unemployment claims last week. This solidifies hopes that the recovery is continuing in the world’s largest economy.
Earnings season is in full swing with 68% of the 280 companies in the S&P 500 reporting since January 9 beating estimates.
Apple continued its month long rally adding 1.6% after reporting doubled quarterly profit on January 24.
Advanced Micro Devices soared 3.7% after being raised by Sanford C. Bernstein & Co.
Chesapeake advanced 2.4% after the CEO vowed to cut long term debt by 25%
Regeneron Pharmaceuticals surged 13% after raising its sales forecast.
In bearish news, First Solar gave back 5% after being downgraded at Brigantine Advisors.
After the close of European trade, the EURO STOXX 50 gained 0.19%, France's CAC 40 climbed 0.11%, while Germany's DAX added 0.46%. Meanwhile, in the U.K. the FTSE 100 moved higher by 0.71
Investors are awaiting Japan’s monetary policy statement, France’s non farm payroll numbers, and retail sales, import numbers and a talk by Treasury Secretary, Timothy Geithner in the U.S. on Tuesday.