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Market News


European Markets

Opening calls are indicating a lower open this morning.

Asian Markets

 

The Hang Seng is trading lower in Asia.

 

US Markets

 

U.S. stocks slid Monday as investors grew wary over whether political transitions in Greece and Italy will help resolve Europe’ debt crisis.

“Europeans delivered the necessary policy response to avert a meltdown,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. “But, for sure, this is unlikely to be a silver bullet and many questions still remain.

The lingering uncertainty sparked a modest pullback Monday, following Friday’ big rally. The Dow Jones industrial average dropped 75 points, or 0.6%, the S&P 500 lost 12 points, or 1%, and the Nasdaq composite fell 22 points, or 0.8%.

 

Events Today

 

Speakers on Tuesday are expected to include Klaus Regling, CEO of the European Financial Stability Facility and Michael Madelain, President and COO of Moody’ Investor Services.

The European Commission will propose changes to rules on credit rating agencies such as Moody’ and Standard and Poor’ on Tuesday, which are expected to tighten current regulations.

Key economic data on Tuesday includes European Union flash estimate gross domestic product, out at 10:00 London time, when the ZEW Indicator of Economic Sentiment in Germany will also be available.

Swedish fashion retailer Hennes and Mauritz announced that its average same-store sales fell 2.7 percent in October compared with a 3 percent rise in October last year, hit by the European debt crisis and unfavorable weather.

From the UK, low cost airline Easyjet releases its full year results on Tuesday, telecommunications firm Cable and Wireless reports interim results and luxury goods firm Burberry is also due to report.