The Dow Jones industrial average climbed up 1.68%, to 10,268.81. The Standard & Poor’s 500 Index gained 1.80%, to 1,094.87. The Nasdaq Composite Index gained 1.40%, to 2,214.19. The Nikkei climbed 272.58 points to 10,306.83. The Topix rose 2.2% to 904.63.

Yesterday, European ministers told Greece that it may need to reconsider how it will bring its debt under control. In preparation to clear their books of troubled mortgages, US banks are considering doing this through “short sales.” Short sales at Bank of America, Wells Fargo, JPMorgan Chase and Citigroup are expected to rise this year, house prices in some parts of the US still continue to fall.

Due for release today is the GBP Claimant Count Change, GBP MPC Meetings Minutes, USD Building Permits and USD FOMC Meeting Minutes.

By Greg Secker

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