Futures markets and currencies are welcoming news on Sunday of approval for further austerity measures in the Greek parliament. The news could support the markets but earnings will still dominate over the next week.
The markets anxiously waited but got no relief on the deal between Greece and the Institute of International Finance (IIF), the organization representing private debt holders. With the S&P 500 now up 19.6% off its November lows and the euro up about 4.5% against the dollar over the last couple of weeks, the market could see a significant sell-off if the news is less than optimal.
Global air carriers have confessed that they are getting ready for some turbulence. While they don’t see a recession on the way, their shares are pricing in a shift in the economic outlook.
Over a year after Chile’s LAN Airlines and Brazil’s TAM agreed to team up to become Latin America’s biggest carrier, the regulators have finally given their approval to the deal.