US stocks are expected to follow the lead in Asia and Europe with significant gains likely following the announcement that a deal has been reached to address the on-going European debt crisis.
“Given the extent of what needed to be achieved here and the disparate views, one cannot fail but to be impressed that the EU officials have managed to carve out this plan,†Charles Diebel, head of market strategy at Lloyds Banking Group Plc in London, said in a research note. “The announcement is enough to buy some time and generate a moderate risk-on phase.â€Â
Source: Bloomberg
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