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Morning Brief


European calls are indicating a lower open this morning amid various downgrades by Moody’. Monday evening, the agency stated that it may cut the triple-A ratings of France, the United Kingdom and Austria.

In Asia, the Nikkei average is trading higher while the Hang Seng index is trading slightly in the red. The Bank of Japan kept its policy rates unchanged Tuesday, but surprised the market by increasing its asset purchase program.

U.S. stocks rose Monday after the Greek government approved a key austerity package, lifting hopes the nation will qualify for more bailout money and avoid a messy default.

The Dow Jones industrial average rose 73 points, or 0.6%, to end at 12,874. The S&P 500 added 9 points, or 0.7%, 1,352. The Nasdaq rose 27 points, or 0.9%, to 2,931.

Events Today

Companies reporting on Tuesday include Intercontinental Hotel Group and Actelion. Swedbank reported profit in line with expectations and said it would cut costs.