Financial markets across the globe continued to ride the wave of good US economic news Tuesday morning, despite concerns in Greece and Spain. In the US, markets are poised for a strong opening, but analysts are waiting for key economic data to be released this week.
Oil prices made small gains above $78 a barrel Friday but remained near eight-month lows after signs of slowing global economic growth triggered a sharp plunge this week. Most indicators hint at a continuing slide for oil prices.
Oil prices fell near $83 per barrel Monday as worries lingered over the eurozone debt crisis despite optimism over Greek election results. Benchmark oil prices for July were down $0.75 to $83.28 a barrel.
On a day that Moody's downgraded the safety rating of six German banks over the eurozone debt crisis, major stock indexes that have been roiled by the crisis rose 2 percent on the Spanish rescue hopes.