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Morning Brief


Opening calls are indicating a flat open in Europe as talks between Greece and its lenders continue.

In the US, Stocks surged last week to their highest levels in years, but there are few key economic reports slated for the week ahead to sustain the rally.The big news last week was Friday’ report from the U.S. Labor Department, which showed a much larger-than-expected increase in hiring and a surprise drop in the unemployment rate. The Dow rose 1.6% last week, ending at its highest point since May 2008. The Nasdaq jumped 3.2% over the last five trading days, climbing to its highest level since December 2000, and the S&P 500 added 2.2%.

In Asia, stocks extended last week’s rally as consumer companies led gains after higher-than-expected U.S. jobs growth.

Events Today

Two bond auctions take place on Monday, with the Netherlands expected to tender between 2 to 4 billion euros worth of 3-month and 6-month T-bills at 10 a.m. GMT, followed by France’s bond sale of between 7 billion to 8 billion euros in its weekly T-bill auction at 1:50 p.m. GMT.