Today European session gained, from Bloomberg: European Stocks Advance on Improved Earnings
“European stocks gained, rebounding from a seven-month low, as companies from Novartis AG (NOVN) to International Business Machines Corp. reported earnings that beat estimates. U.S. index futures rose while Asian shares fell.
We’re likely to see the market rise 3 percent to 4 percent in the next couple of weeks if we get good earnings,” said Andreas Lipkow.
A report today may show housing starts in the U.S. rose in June for a second month. Construction began on 575,000 houses at an annual rate, up 2.7 percent from May, according to the median projection of economists surveyed by Bloomberg News. Building permits, an indicator of future projects, fell 2.3 percent to a 595,000 rate, the survey showed.”
Support by Gold make all time high.
From Bloomberg: Gold Climbs to Record as U.S., European Sovereign-Debt Woes Spur Demand
“Gold surged to a record, gaining for a 12th consecutive day, as U.S. and European sovereign-debt woes spurred haven demand. Silver jumped to an 11-week high.”
And also updates from the Euro Summits
“European leaders are struggling to convince investors that they will agree on a second Greek bailout at a summit this week as record bond yields threaten to boost financing cost at sales of Spanish and Greek debt.
European Union government chiefs plan to meet for the second time in a month on July 21, aiming to break a deadlock over a new Greek rescue that has spooked investors. Spanish and Italian bonds yields surged yesterday, piling pressure on officials to end the turmoil. Spain and Greece sell as much as 5.75 billion euros ($8.1 billion) of bills today.”
