Opening calls are indicating a higher open this morning, after losing some of its momentum last week due to slowing Chinese economy and fears that the debt crisis will be revived.
In Asia, the yen weakened after posting the biggest weekly advance this year, while copper rose. Asian stocks fell for a second day as corporate profits trailed estimates and Italy’s prime minister warned that Spain could reignite Europe’s debt crisis.
U.S. stocks flip-flopped Friday but closed slightly higher as investors remained skittish about the health of the economy after the latest report on home sales signaled further trouble for housing.
Both Germany and France hold bond auctions Monday, with the former tendering 3 billion euros in 12-month bills at 10:30 a.m. GMT, and France tendering 7 to 8 billion euros in various bills at 1:50 p.m. GMT.