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The Reformed Broker

Stocks are up, Greece is saved!

Stocks rallied with news of a new package of loans for Greece on Thursday. How long can stocks hold on to the good news?

By Joshua M. BrownGuest blogger / July 22, 2011

In this July 18, 2011 photo, specialist William Krumm works at his post on the floor of the New York Stock Exchange. Stocks around the globe climbed Friday, July 22, 2011, as investors signaled their approval of a massive new bailout plan for Greece. Is Greece in the clear?

Richard Drew / AP

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Just kidding, but the €109 billion rescue package seems to be a sufficient kick o' the can - markets continue to rally from Helsinki to Hollywood.

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Here's MarketBeat:

Pre-Market Brief:

Market tone: Stocks seen higher; euro maintains gains, dollar up against yen; Treasurys unchanged; Nymex up at $99.45; gold down at $1,585.99

Overnight action: Markets rally on Greek aid deal; Apple explores Hulu bid; Vodafone’s revenue rises 3.5%

This morning GE beat estimates easily and Hewlett-Packard's announcement of a $10 billion buyback should also help the Dow equation.

Sorry for the late start, was at Sparks Steakhouse last night with assorted hedge fund managers and media peeps. China's endemic fraud loomed large during the conversation (The People's Republic of Madoff) as did the question of which will be a bigger stimulus for New York, gay weddings or gay divorces?

My daily linkfest for financial advisors is up at WSJ here: The Good Leads

Be back with you shortly...

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