US index futures are sharply higher this morning, reacting to the Greek parliament’s approval of the new austerity measures that will likely release the $172 billion the country needs to pay its bills and keep functioning. European and Asian markets have also responded positively to the Greek vote. Violent protests on the streets of Athens against the wage and job cuts don’t seem to have much impact on markets, but the last time this sort of thing happened in Greece, it forced a change in government. But maybe this time is different.
At about 8:15 a.m. ET, Germany’s DAX is up 0.82% at 6,747.54 and France’s CAC 40 is up 0.66%, at 3,395.42. In London, the FTSE 100 is up 1.05%, at 5,913.77.
In Asia, the Hang Seng index closed up 0.50%, at 20,887.40 and the Nikkei index closed up 0.58%, at 8,999.18. The Shanghai exchange closed down -0.01%, at 2,351.85.
Dow futures are up 0.69%, at 12,855.00. The Nasdaq 100 is up 0.74%, at 2,567.25 and the S&P is up 0.75%, at 1,350.80.
In the currency markets, the US dollar is weaker against the British pound and the euro, and stronger versus the Japanese yen. The US dollar index is down -0.33% at 78.741.
In commodities, WTI and Brent crude are higher this morning, with WTI up 1.17% at $99.82/barrel and Brent is up 0.97% at $118.45/barrel. Gold is up 0.50% this morning, at $1,733.90/ounce.
Paul Ausick
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