What Sell-Off? Europe And US Futures Are Bouncing Back

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Photo: dalechumbley on flickr

The sell-off we finally saw yesterday bled over to Asia, but it appears to be losing steam.The Nikkei 225 closed down 0.64 per cent, with the Hang Seng down 0.86 per cent and Shanghai  down 0.65 per cent.

But European markets are bouncing back, with the Stoxx Europe 600 index up 0.4 per cent.

Dow futures point to a positive open.

Investors expect Greece to announce sufficient investor participation in a debt deal ahead of tomorrow’s deadline.

German industrial production comes out at 06:00 EST, followed by Brazilian industrial production at 07:00 EST.

Things shift to the US at 08:15 EST with ADP employment change, which is expected to show 215,000 new jobs in February, from 170,000 in January. Data on US consumer credit comes out at 15:00 EST, with expectations for a big $10.45 billion increase in January.

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