U.S. Stocks head for gains after Greece approves key austerity package

“U.S. stocks were poised for early gains Monday, after the Greek Parliament approved a key austerity package,” CNNMoney reports.

“The Dow Jones industrial average, S&P 500 and Nasdaq futures were higher ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET,” CNNMoney reports. “The Greek Parliament voted early Monday to approve a package of austerity reforms, marking a key step toward securing a second bailout worth €130 billion from the European Union, International Monetary Fund and European Central Bank.”

“Greece needs the money to avoid a potential default on a €14.5 billion bond redemption in March. Sunday’s vote clears one of the hurdles the Greek government must overcome to qualify for the bailout,” CNNMoney reports. “The vote came amid escalating public protests against the reforms, which include job and salary cuts for government workers, pension reforms and other measures to reduce government spending.”

CNNMoney reports, “European stocks were higher in morning trading. Britain’s FTSE 100 jumped 0.8%, the DAX in Germany edged up 0.3% and France’s CAC 40 rose 0.4%. Asian markets ended mixed. The Shanghai Composite (SHCOMP) was unchanged, while the Hang Seng (HSI) in Hong Kong added 0.5% and Japan’s Nikkei (N225) climbed 0.6%.”

Read more in the full article here.

MacDailyNews Take: In pre-market NASDAQ trading, AAPL is currently knocking on $500’s door, up $5.85 (1.19%) to $499.27.


  1. The Greek parliament can keep agreeing to economic reforms, but they’ll keep breaking their promises, ad infinitum. This will all end badly until Greece is kicked out of the EU.

    1. It sounds like your parenting skills are limited to throwing the baby out with the bathwater. Greece needs to learn a few lessons on keeping promises. That is a given but it will take time. The perceived level of corruption in Greece is very high and with a series of changes instituted from pressure from the rest of Europe and the world will eventually bring about the true reforms in the character of the Greek nation.

  2. Financial markets are an indicator of hope; certainly not reality. Greece is the tip of the iceberg. Spain/Italy etc. are bigger problems for the EU banks.Whether or not Greece remains in the EU has no bearing on the broad economic fallout if Greece defaults.

      1. The people suffer because they are lazy.

        Government isn’t the answer. Government is the problem.

        There is no such thing as a free lunch. Welcome to reality, Europe. Hopefully, the U.S. wakes up in time. Statism is a recipe for failure, malaise, and suffering.

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