Feb 132012
 

S&P reclaimed 1350 level this morning, reversing the losses on Friday. Greece was again the main cause, as Greece parliament passed austerity reforms in a vote on the weekend.

S&P ended at 1353, 9 points higher. The biggest event was the Greece parliament vote over the weekend. In the evening, Moody’s cut credit ratings for Italy, Portugal and Spain. This could negatively inpact the stocks tomorrow. The main data release for tomorrow is Retail Sales, which economists are forecasting to grow 0.8%.

NEWS:

Greek austerity steps pass, but big challenges remain (MarketWatch)

Moody’s Cuts Europe Sovereigns Including Italy, Spain (Bloomberg)