bailout? the greek prime minister sent a letter to creditors last night. he says he will accept their proposal as a basis for compromise. there are still sticking points. among the biggies, pensions and tax discounts. germany passes finance minister does not care much for the offer. wolfgang says greece has not provided any basis for talking about serious measures to her the u.s. and cuba are taking another step toward normalizing relations. they will announce today the restoration of diplomatic ties as plans to reopen embassies after a total of 54 years. in the last six months the u.s. has removed cuba from the list of state sponsors of terrorism. it also made it easier for americans to travel to cuba. president obama will be making a statement on the opening at 11:00 a.m. right here today. matt: diplomats have given themselves another week to reach a deal on nuclear programs. john kerry in vienna, the russian foreign situation is moving in the right direction. the u.s. and
of course therefore, price goes down. dollar index, you see it there as well. a bit stronger this morning. how are things in europe you ask in i will tell you. strong. the dax 2.5% gain. cac up almost 2% and the uk having a positive day if you are on the market. it starts with greece this morning. the prime minister sends a letter agreeing to a bailout on slightly different terms. is this all too little too late? plus the first day of the second half. adp data better than expected ahead of a jobs report tomorrow. the dow wraps up the month of june down just over 2% and ensuring a deal. ace buys chubb keeping the chubb name but, of course it is the ultimate inversion, as i like to say, selling out to a company that is based in zurich. both stocks are up sharply. the accretion numbers very strong. jim and i will have a lot more on that. futures up sharply on hopes for a greek debt deal. the prime minister says athens could accept the bailout offer if things were changed. this a
the reality is you are always in the woods when you own stocks. it s just that the woods aren t necessarily as dark and scary some days as they seem on others. today when the sun came out, dow rallied, s&p gained and nasdaq climb ed climbed. take monday when the stock market woods were really frightening. talks with greece broke down. the $70 billion puerto rican municipal bond market collapsed. china morphed from the bull to the bear in one fell swoop with a gigantic decline. lions and tigers and more important, bears! oh my. all these developments were startingly negative. before this weekend, many thought greece was on the verge of a deal. puerto rico was supposed to be doing badly but a solution that spared real pain seemed in hand. china had been in total bull market as stocks became available to the masses many borrowing money to do so. it seemed like such a sure thing. that was easy. i don t want to down play these negative issues. what you must learn, you must ass
away from the video giant. welcome to countdown, i am guy johnson. anna: and i and and edwards at headquarters in london. it is 6:00 here on thursday morning. welcome to the program. let s find out where the greek obsession has taken the markets in the last 24 hours, this has been the picture over the close. for equities in the middle of morning, there seemed signs of come from eyes from the government in athens. those were rained on a little bit, gains in the equity markets were trimmed a bit, as the prime minister retreated and called for a no vote to be supported on sunday during the referendum. that did not start some of the optimism for the close of the equity markets, and into the u.s., as well. if we look at the u.s. markets, they moved higher. the big story came from oil, oil dropping the most in three months as stockpiles of crude increase. also, airline stocks were hit on newsday faced antitrust area more of those stories as a move ahead. move over greece, we are
you can bet that even a mediocre quarter will be rewarded with applause and a rally. hallelujah now, i for one think that oil is going to stay lower longer. we ran up to that $34 level as we did earlier today. we start getting some real resistance because there are so many strapped oil companies out there that need to dump crude on the market or sell futures to hedge and bring in cash. it s almost impossible to get over that 34, 35 hump. that s why i urge you to understand the rhythm we have got going here in this market and recognize that occasionally we ll get sell-offs in the stocks of companies that deliver fantastic quarters but have the misfortune of reporting on a day when oil goes down. that could be where the opportunity comes in. what do i mean? let s take salesforce.com which reported the best quarter of any technology company in 2016. you know i don t like to chase. the stock missed almost 10% after the quarter. i said you have to be careful because there coul