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Markets are called flat this morning. This is what's happening today:
Greek election winner Antonis Samaras begins a second day of talks to form a coalition after holding “constructive” meetings with two party leaders, racing to forge a government that keeps bailout aid flowing. Samaras secured initial agreement yesterday from Socialist Pasok leader Evangelos Venizelos, the former finance minister who negotiated the second rescue, and said he’d hold further talks today with Fotis Kouvelis, the leader of the Democratic Left party. If those three team up, they will hold a majority of 179 seats in the 300-member Greek parliament.
With German Chancellor Angela Merkel offering little flexibility on emergency loans needed to keep Greece in the euro and avert economic collapse, leaders in Athens are scrambling to forge a government that can negotiate changes to some of the austerity measures linked to the E240b pledged by international lenders.
Spain, which has asked euro-region governments for as much as 100 billion euros to help shore up its banks, reported yesterday that bad loans jumped in April to 8.72% of total lending, the highest since 1994. The 10-year Spanish yield surged above 7%. They closed the session at 6.874%.
Federal Reserve policy makers will bring new forecasts to their June 19-20 meeting today and probably will mark down their April central-tendency estimate for growth of 2.9% to 2.4% this year.
Stock to watch: Microsoft (Price $29.84, Price Target $35)
Microsoft Corp. unveiled its own indows-powered tablet computer called Surface, altering its trategy of focusing on software and relying on partners to make he machines in a renewed attempt to take on Apple Inc.’s iPad.
The tablet has a 10.6-inch display and will run the new ersion of Microsoft’s operating system, Chief Executive Officer teve Ballmer said at an event yesterday at Milk Studios in Los ngeles. The device’s cover serves as a full keyboard with a rack pad. Surface will be available later this year.
For further information on Microsoft or other stocks and bonds we follow, contact our offices on 25688688.
Good day and happy trading!
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