U.S. Futures, Asian Markets Higher on Greek Election Results
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U.S. stock futures and Asian markets are rallying overnight following this weekend's Greek election, which suggests that an imminent Greece exit from the Euro is not in the cards.
S&P 500 futures last traded up 5 points to 1342.50. The NIKKEI is up 1.8 percent and the Hang Seng is up 1.6 percent.. While sharply higher, all are off the highs.
In Greece, with votes nearly all counted, the pro-bailout New Democracy had 29.6 percent of the vote and 129 seats out of the 300 seats in Parliament. The anti-bailout Syriza party had 26.9 percent and 71 seats.
While equities are stronger, some point to last week's short-lived euphoria around a Spanish bank bailout. After an initial knee-jerk higher on the news, stocks sold off and bond yields for on-the-edge Eurozone countries like Spain and Italy surged.
S&P 500 futures last traded up 5 points to 1342.50. The NIKKEI is up 1.8 percent and the Hang Seng is up 1.6 percent.. While sharply higher, all are off the highs.
In Greece, with votes nearly all counted, the pro-bailout New Democracy had 29.6 percent of the vote and 129 seats out of the 300 seats in Parliament. The anti-bailout Syriza party had 26.9 percent and 71 seats.
While equities are stronger, some point to last week's short-lived euphoria around a Spanish bank bailout. After an initial knee-jerk higher on the news, stocks sold off and bond yields for on-the-edge Eurozone countries like Spain and Italy surged.
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