Stock Market Beverage Wars: PepsiCo, Coca-Cola, Snapple
This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 4.50 points to $1556.25 per contract. It seems that the stock futures are catching a bid higher after the European Union and Cyprus reached a bank bailout deal last night. Depositors with less than 100,000 euros in their accounts will not have to pay a bank levy. The levy (tax) will affect depositors with over 100,000 euros in their account. This deal will not need approval from the Cypriot parliament.
Most of the leading European stock indexes are trading higher on the news. Traders can watch for early strength in the leading European bank stocks. Some equities that are trading higher before the opening bell include Deutsche Bank AG (NYSE:DB), Credit Suisse Group AG (NYSE:CS), UBS AG (NYSE:UBS), and the iShares MSCI Europe Financials Sector Index Fund (NYSEARCA:EUFN).