(As of 7:28 am pacific)
With a lack of economic news this morning, investors are
looking to prospects out of Europe for direction. A report from the Financial Times that Spain
may announce an economic reform plan as soon as next week, has markets higher
in Europe and the US. According to
reports, Spain and EU officials are working together on a plan for economic
reform that could open the door for bailout funds to be released from the
EU. The news has boosted the euro and
caused the dollar to slip, while investors risk appetite appears on. Also lifting stocks are expectations of
strong sales over the weekend of the new iPhone 5. The phone hit stores today and many analysts
expect over 6 million units to be sold by Monday. Apple shares are up 0.75%. Oil has reversed its downward trend after
sliding 6% this week, and also is carrying stocks higher today. Gold and most other commodities are
higher. Interest rates are slightly
higher and volatility remains low.
