Equities exchange traded funds were poised for big gains Tuesday on hopes Europe’s bailout fund will be leveraged so it can do more to calm the debt crisis.
SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA) rose 1.7% before the bell as Dow futures added 180 points. European stock ETFs listed in the U.S. were also set to rally at the open.
Greek Prime Minister George Papandreou said he can guarantee Greece will meet its austerity goals, Dow Jones Newswires reported.
Speculation of an increase in the European Financial Stability Facility boosted stocks Tuesday, although Reuters reported German Finance Minister Wolfgang Schaeuble denied such a move is planned. S&P has warned that leveraging the EFSF could lead to ratings downgrades for Germany and France, according to the report.
The Dow ETF is down about 3% year to date.
SPDR Dow Jones Industrial Average ETF
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