It seems like 1998 all over again. Full trading posts, CNBC spending time at the NYSE and hosts talking over one another. It's like the first trade in GM will spark some huge rally. There are a few things to know. Firstly, CNBC hosts and TV hosts know little about markets, most of them have never managed money, they are in the buisness of getting ratings for TV or Radio of the website. The real story is solving the Global crisis and the resurgence of the US Consumer during Holidays and beyond.
Stock index futures pointed to a rise of nearly 1 percent at the open on Thursday on expectations Ireland will get a giant loan to ease its debt crisis. Ireland's central bank chief said he expected the country to receive tens of billions of euros in loans from European partners and the International Monetary Fund to help shore up its shattered banks and stabilize the economy.
U.S.-listed shares of Bank of Ireland (NYSE:IRE - News) climbed 10 percent to $2.38 in premarket trading, while the FTSEurofirst 300 (^FTEU3 - News) index of top European shares was up 1.2 percent.
Concerns over European sovereign debt woes have weighed on equities in recent sessions, with the S&P 500 down nearly 4 percent since November 5.
"They've moved toward a resolution, and it looks promising that one will be reached," said Michael Holland, who oversees more than $4 billion as chairman of private investment firm Holland & Co in New York. "There was concern that there wouldn't be a deal, and if we move away from the threat of a default there, the market will clearly really like it."
Futures barely moved after data showed new jobless claims rose slightly less than expected last week. The underlying trend remained tilted toward a gradual improvement in the labor market.
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