Eurozone Solidarity: EU Leaders Agree To Recapitalize Banks Directly Through Rescue Fund, U.S. Stocks Likely to Rally

Positive sentiment rising, U.S. Stocks Likely To Rally At The Open On Europe News, investors and traders reacting positively to the latest news out of Europe, stocks are likely to move to the upside in early trading on Friday. The major index futures are currently pointing to a sharply higher open, with the Dow futures up by 194 points, hopely this positive sentiments can be longer
From Tokyo stock exchange, Japan Industrial Output Tumbles, Rebound Expected, Japan's industrial output declined for a second consecutive month in May owing to a decrease in auto production, government data showed Friday. However, firms expect a robust rebound in output in the next couple of months
Latest news from Eurozone debt crisisi, finally European Union Leaders Agree To Recapitalize Banks Directly Through Rescue Fund, The European leaders meeting in Brussels for a two-day summit have agreed to make use of Eurozone's bailout funds to recapitalize the region's banks directly once an effective single supervisory mechanism is established, relieving the governments of the burden of bailing out troubled lenders. The European Commission will present proposals for a single supervisory mechanism soon. "We ask the Council to consider these Proposals as a matter of urgency by the end of 2012."
Latest economic data from Berlin we reporting, German Retail Sales Fall Unexpectedly In May, German retail sales fell unexpectedly in May for the second month in a row as consumer spending was weighed down by weak economic prospects and the unresolved eurozone debt crisis.
Latest update Eurozone economic data, Eurozone Inflation Remains Unchanged In June, Still Above Target, Eurozone annual inflation remained unchanged at 2.4 percent in June, flash estimate released by Eurostat showed Friday.
Meanwhile, from British economic news, Mervyn King Urges U.K. Banks To Boost Cash Buffers, Bank of England Governor Mervyn King on Friday said U.K. banks should boost their cash buffers to ensure continuous lending and welcomed proposals for establishing a single banking regulator for the euro area.
Consumer spending meter based on U.S. Personal Income Increases 0.2 Percent In May, Less Than Expected, U.S. personal incomes grew by slightly less than expected in May but the slower than expected growth did not bring down consumer spending levels.
According to figures released Friday by the Commerce Department, U.S. personal income increased by $25.4 billion or 0.2 percent for May, with disposable incomes increasing by the same 0.2 percent margin. But consumer spending, known more formally as personal consumption expenditures, decreased by $4.7 billion for the month