LONDON -- Markets look set to rebound following yesterday's falls, with the Dow Jones Industrial Average
After two consecutive days of disappointing economic data, close attention will be paid to today's figures. They'll include the latest ADP employment report, expected to show an increase in jobs, and weekly jobless claim figures, which are expected to remain unchanged. Also due are revised GDP figures, which may show that GDP grew by only 1.8% in the first quarter, rather than the previously stated 2.2%.
In Asia, markets fell again on eurozone fears and disappointment at slowing economic expansion in India, where first-quarter GDP growth was just 5.3%, the lowest in eight years.
Across the pond, European investors were back in the market today, sending the main indexes upwards in a cautious rebound after yesterday's losses. At 7 a.m. EDT, the FTSE 100 was 0.6% higher, France's CAC 40 was 0.4% higher, the German DAX was up 0.2%, and Spain's IBEX 35 was 0.5% higher.
The main eurozone news today is the Irish referendum over whether to accept the EU Fiscal Stability Treaty. Acceptance would give the bailed-out country access to the new European Stability Mechanism -- Europe's new 500 billion euro bailout fund -- but would require continued strict austerity measures. The Irish are expected to vote in favor of the deal.
In other European news, German unemployment fell marginally, and Greek retail sales are down a sizable 16% on the year.
In company news, Anglo-Dutch computer company Logica saw its share price rise 64% following confirmation of a takeover bid from Canada's CGI Group
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Earnings releases today include Joy Global
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Roland Head owns no shares of the companies mentioned. The Motley Fool owns shares of Berkshire Hathaway and Joy Global. Motley Fool newsletter services have recommended buying shares of Berkshire Hathaway. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.