The main economic news scheduled to come out of Asia on Tuesday will be China's trade data for June. In Brussels, euro-zone finance ministers met for discussions on bailing out the Spanish banking system and creating a common regulator for the region's banks.
Euro-zone finance ministers reached a "political agreement" in the small hours of Tuesday on some details for a bailout to rescue Spanish banks, Jean-Claude Juncker, Luxembourg's prime minister and head of the Eurogroup, told reporters after the conclusion of the nine-hour meeting.
Spain also got a one-year extension to meet its deficit-reduction target, as had been widely expected. Yields on Spain's 10-years bonds rose to around 7% overnight, the point widely considered to be unsustainable, which damped sentiment in overnight trading.
Dow Jones futures prediction july 10 2012
Today's support: - 12742.25 and 12690.24(main), where a delay and correction may happen. Break of the latter will give 12658.20, where correction also can be. Then follows 12611.31. Be there a strong impulse, we shall see 12579.40. Continuation will bring 12532.90 and 2452.70.
Today's resistance: - 12860.20,12888.50 and 12957.44(main), where a delay and correction may happen. Break would bring 12971.20, where a correction may happen. Then follows 12980.30, where a delay and correction could also be. Be there a strong impulse, we'd see 13008.60. Continuation would bring 13047.38.
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