Wall Street to open higher on Italy relief [Reuters]
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Source: Reuters
Wall Street to open higher on Italy relief | Reuters 4 Min Read (Reuters) - Wall Street was set to open higher on Wednesday, buoyed by a rebound in European markets after Italy indicated that it was open to reducing budget deficits and debt in the coming years. Concerns over Italy’s budget deficits and high debt levels have pressured global stock markets since the country’s ruling coalition last week tripled the previous government’s budget deficit target. “Today, so far, has been better-than-expected performance out of Europe and that’s got futures up,” said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee, Wisconsin. Antonelli said while Italy was not a gigantic catalyst for the market, but a loss out of Europe has been setting the tone for the U.S. markets. U.S. bank stocks rose, with Citigroup ( C.N ), JPMorgan Chase ( JPM.N ), Bank of America ( BAC.N ) up between 0.6 percent and 0.8 percent, mirroring a recovery in their Itali
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