This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Futures Rise as Greece Concerns Ease

NEW YORK ( TheStreet) -- Stock futures were pointing to a higher open as assurances from European leaders regarding Greece's debt situation eased contagion fears.

Futures for the Dow Jones Industrial Average were up by 51 points, or 54 points above fair value, at 12,064. Futures for the S&P 500 were higher by 7 points, or 8 points above fair value, at 1280, and Nasdaq futures were ahead by 10 points, or 9 points above fair value.

Stocks strengthened Monday as European leaders assured the market that Greece will enact the budgetary actions needed to avoid default.

European leaders meeting in Luxembourg on Monday said the European Union would work to contain Greece's credit crisis , and Jean-Claude Juncker, prime minister of Luxembourg, expressed his belief that Greece would put through the needed austerity measures to receive its next aid installment.

Greek Prime Minister George Papandreou faces a confidence vote in parliament on Tuesday. The country must pass strict austerity measures in order to receive the next installment of its €100 billion bailout package.

The FTSE in London was gaining 0.9%, and the DAX in Frankfurt was rising 1%. Hong Kong's Hang Seng jumped 1.2%, and Japan's Nikkei advanced 1.1%.

Members of the Federal Reserve's policy-setting arm are gathering for the first day of a two-day meeting that will conclude in a rate decision statement on Wednesday afternoon. Wall Street is largely expecting that Chairman Ben Bernanke will announce the end of the second round of quantitative easing and that the Federal Open Market Committee will downwardly revise its growth expectations for the year. The Fed's key interest rate is expected to remain untouched at 0.25%.

Shares of Walgreen (WAG) were falling 3.8% to $43.48 during the premarket session after the drugstore chain topped analysts' third-quarter profit estimates by 2 cents and said contract renewal negotiations with pharmacy benefit manager Express Scripts (ESRX - Get Report) were unsuccessful. Shares of Express Scripts were down 2.8% at $53.25.

Airbus said it received a commitment from leasing company CIT Group (CIT) for 50 of its fuel-efficient A320 aircraft at the Paris Air Show on Tuesday. Boeing (BA), meanwhile, signed a deal for eight 777-300ER jets worth $2.27 billion with Aeroflot, and a $1.2 billion deal with Norwegian Air Shuttle for 15 Boeing 737-800 planes. Boeing's stock was gaining 0.6% to $75 ahead of Tuesday's opening bell.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AZN $34.19 0.41%
ESRX $85.63 -0.12%
XRAY $60.96 -0.25%
WAG $81.65 2.05%
AAPL $119.16 1.10%


Chart of I:DJI
DOW 17,781.26 -17.23 -0.10%
S&P 500 2,087.12 -2.99 -0.14%
NASDAQ 5,127.9150 +0.39 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs