Stock indexes are up 1% heading into afternoon trading as investors are optimistic about some kind of stimulus news from the Federal Reserve this week. The Fed started a two day meeting today and will have an announcement tomorrow afternoon.
Recent economic data in the U.S. has shown weakness in jobs and manufacturing.
In Europe, Greece is working on forming a coalition government led by last weekend’s election winner New Democracy, a conservative party who supports the recent bailout deal and wishes to stay in the EU.
The G20 is also meeting this week in Mexico. Leaders from the world’s leading economies will mainly discuss Europe’s debt crisis. European leaders have said they will consider steps toward a banking union.
Microsoft (MSFT) shares are rallying today after the company unveiled its own tablet yesterday dubbed the Surface. The Surface will run Windows 8 and have front and rear cameras. No pricing or release details were released at yesterday’s conference.
With half the trading day left the Dow is up 121 points, the Nasdaq is up 35 points and the S&P 500 is up 14 points.