European Markets Are Headed Higher

Mariano Rajoy

Photo: flickr / Partido Popular de Cantabria

European stock markets are getting a boost this morning.The Spanish IBEX is leading the way, up 0.58 per cent. The DAX is up 0.41 per cent, the FTSE 100 in London is up 0.36 per cent, and the French CAC is up just 0.19 per cent.

France just released its 2013 austerity budget after Spain unveiled its own yesterday. Newly-elected president Francois Hollande calls it a “combat budget.”

Asian markets were mixed, with the Nikkei closing down -0.89 per cent and the Hang Seng up a slight 0.12 per cent.

Futures in the U.S. are flat right now. At 8:30 AM ET we’ll see personal income and spending releases (and Canada GDP). Then, at 9:45, we get Chicago PMI, followed by University of Michigan Consumer Confidence at 9:55.

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