International equity markets advanced on Friday night with the bears taking a break after the recent mauling.
In Europe the FTSE gained 25 points (+0.5%) whilst the CAC (+1%) and DAX (+0.6%) were even stronger.
Stateside, the Dow Jones put on 38 points (+0.4%) to settle at 10772 whilst the S&P500 added 0.6% and the Nasdaq jumped 1.1%.
Friday night's respite came amidst knowledge that Europe's governments are speeding up the setup of a permanent rescue fund, which helped to placate jittery investors.
Commodities were weaker, with the S&P GSCI index slumping 1.4% to its lowest closing level in almost a year.
Gold was a big mover, falling as much as US$110 to US$1631.70 after the CME Group increased the margins for bullion and silver.
Silver was even harder hit, slumping 18% – the most since October 1979, whilst copper lost 6%.
This morning futures markets have reacted strongly to comments from Greece's finance minister that the country will do 'whatever it takes' to meet its budget goals.
There is no major local data due out for today's session.