For a third day the FTSEurofirst 300 index closed 0.6% higher at 987.13 points. The Dow Jones industrial average dropped 0.20% to 10,038.38. The Standard & Poor’s 500 Index dropped 0.22% to 1,068.13. The Nasdaq Composite Index was down 0.1% at 2,147.87. The Nikkei gained 31.09 points to 9,963.99. The Topix inched up 0.2 percent to 883.50.

At today’s summit, European Union leaders will lay the groundwork for a financial rescue of Greece, however supported provided is likely to require  a commitment from Greece to get it economy in order. The US December trade deficit climbed to $40.2bn (£25.8bn) after a large jump in oil imports, this was unexpected which suggested that the US economic growth wasn’t as strong as initially thought in the fourth quarter.

Due for release today is the AUD Employment Change, AUD Unemployment Change, EUR EU Economic Summit, USD Unemployment Claims and NZD Retail Sales.

By Greg Secker

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