European debt meeting

Futures are screaming higher, S&P's are up 28 points on top of a 12 point gain on reversal yesterday. Lets see if the big boys fade this open. We have GDP at 830am along with other reports.

If you havent already heard the outcome of the meeting here is a link

“There was no way that this agreement was ever going to include everything that dotted the i’s and crossed the t’s, but what they did do is show a sense of unity and determination in recognizing what needed to be done,” said Mike Lenhoff, chief strategist at Brewin Dolphin in London.

“I don’t think they [euro-zone leaders] are floundering any more,” he said. ”There was discord, conflict and tension [before]. All of that energy now seems to be far more productively focused on these three or four points they have agreed.”

Equity markets in Asia and Europe soared Thursday on news of the deal. The pan-European Stoxx 600 index XX:SXXP +3.48% rose 3%, while France’s CAC-40 indexFR:PX1 +5.51% rallied 4.8%.

http://www.marketwatch.com/story/us-stock-futures-rally-after-eu-debt-deal-2011-10-27?dist=beforebell